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TMI Blog2024 (7) TMI 1262X X X X Extracts X X X X X X X X Extracts X X X X ..... Homes (P) Ltd. v. Shree Niwas Girni K.K. Samiti Ors. [ 2007 (8) TMI 447 - SUPREME COURT] where it was held that ' When the affairs of the Company have been completely wound up or the court finds that the Official Liquidator cannot proceed with the winding up of the Company for want of funds or for any other reason, the court can make an order dissolving the Company from the date of that order. This puts an end to the winding up process.' Thus, relying on the decision of the Supreme Court in Meghal Homes as also the import of Section 481 (1) of the Act, besides the facts and circumstances of the present case, these liquidation proceedings warrant to be brought to an end - The company (in liquidation) M/s. Spack Tunrkey Projects (P) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Statesman‟ (English) on 27.04.2014 and Jansatta‟ (Hindi) on 01.05.2014. 4. As per the records maintained with the Registrar of Companies, NCT of Delhi and Haryana, the registered office of the company (in liquidation), was situated at 2nd Floor, Abhishek Tower, D-2, Alaknanda Commercial Complex, New Delhi and was subsequently changed to 1102/1109, Padma Towers, Rajendra Place, New Delhi, with effect from 02.05.2004. Further, the following persons were shown to be the Ex-Directors of the company (in liquidation): (i) Sh. Balvinder Mohan Khullar; (ii) Sh. Rajeev Chadha; and (iii) Mrs. Prem Chadha, W/o Sh. Rajeev Chadha 5. As regards the Ex-Directors, it is stated that their statements under Section 130 of the Companies (Court) Ru ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rakba 71 Kanal and 9 marlas situated in village Suripuri, Tehsil Ballabgargh, Distt. Faridabad, Haryana. Possession taken on 24.01.2006 Status: The same was sold by the State Bank of Indore (Secured Creditor) under Section 13 (2) of SARFAESI Act, 2002 on 28.07.2009. 4. Agriculture out of Khasra no. 5/8/3(0- 13), 8/3/3(0- 12) and 5/9(8-0) Mortgaged share 825 Sq. yds Out of total rakba 5596 Sq yds. situated in village Surirpur, Tehsil Ballabgarh, Distt. Faridabad Haryana. Possession taken on 24.01.2006. Status: The same was sold by State Bank of Indore (Secured Creditor) under Section 13(2) of SARFASEI Act, 2002, on 28.07.09. 7. It is stated that although the Secured Creditor has the right to proceed with respect to the mortgaged properties, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat the balance remaining as on 12.05.2024 is Rs. 37,947.49/- and that no expenses towards liquidation are sought to be recovered from the funds available with the company (in liquidation). 11. In light of the prevailing facts and circumstances, this Court is of the opinion that these liquidation proceedings warrant a quietus, and the company (in liquidation) should be dissolved as the Official Liquidator cannot proceed any further with the winding up process. It would be expedient to invite reference to the decision of the Supreme Court in Meghal Homes (P) Ltd. v. Shree Niwas Girni K.K. Samiti Ors. (2007) 7 SCC 753 , the relevant observations of which are reproduced hereinbelow: When the affairs of the Company have been completely wound up ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... alance, if any, to the Common Pool Fund and thereafter, to close the books of accounts of the company (in liquidation). 16. A copy of this Judgment be communicated to the Registrar of Companies within 30 days by the Official Liquidator. CO. PET. 36/2003 17. Accordingly, the present company petition and pending applications, if any, stand disposed of. CRL.O.(CO.) 5/2006 18. This is a Criminal Complaint preferred against the Ex-Directors of the company (in liquidation) instituted at the behest of the Official Liquidator under Section 454 of the Companies Act, 1956. 19. Since the company stand dissolved, no useful purpose would be served in keeping this complaint pending as the same has not become infructuous. 20. Accordingly, this complaint i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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