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TMI Blog2021 (1) TMI 1334X X X X Extracts X X X X X X X X Extracts X X X X ..... ompany and to indemnify any person for any losses and to settle all lawful claims and liabilities which had not come to their knowledge at that stage - The Official Liquidator has further submitted that the affairs of the Company have been conducted in a manner, not prejudicial to the interest of the members, and is thus of the opinion that the Company may be dissolved with effect from the date of the filing of the petition. The prayer made in the petition is allowed and the Company is wound up and shall be deemed to be dissolved with effect from the date of the filing of the present petition, i.e. 24th December, 2020. Petition disposed off. X X X X Extracts X X X X X X X X Extracts X X X X ..... arjuna Rao Venkata Bhadriraju and Pramod Kumar Narang. 5. The Board of Directors of the Company, in their meeting held on 21st October, 2016, executed and approved a declaration of solvency under Section 488, which stated that after having made a full inquiry into the affairs of the Company, an opinion had been formed that the Company had no debts. The declaration of solvency was accompanied with a statement of the Company's assets and liabilities as on 30th September, 2016, being the latest practicable date before making of their declaration. The said declaration was filed with the Registrar of Companies, NCT of Delhi & Haryana, New Delhi, in Form 149, as prescribed under Rule 313 of the Companies (Court) Rules, 1959 and Section 488 of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r, 2016 to 16th September, 2019, before the Registrar of Companies, NCT Of Delhi and Haryana, on 30th September, 2019. As per the statement of accounts of the winding up process, a total of ₹ 47,11,630/- was recovered during the winding up process. A sum of ₹ 73,431/- was expended towards cost of publication of notices, ₹ 35,000/- towards legal charges, ₹ 80/- towards bank charges and a sum of ₹ 46,03,119/- was paid to RITES Ltd. on account of income tax refund (principal amount). 11. The winding up of the company was carried out for more than one year, and therefore, in compliance of the provisions of Section 496, the Voluntary Liquidator held a general meeting of the company and filed Form 153 and Form 154, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at it has no objection to the dissolution of the subject Company. 15. The contributory of the subject Company, i.e. RITES Ltd., through its company secretary, has submitted an indemnity bond, dated 6th December, 2019, undertaking to pay and settle all lawful claims arising in future after the winding up of the Company and to indemnify any person for any losses and to settle all lawful claims and liabilities which had not come to their knowledge at that stage. 16. The Official Liquidator has further submitted that the affairs of the Company have been conducted in a manner, not prejudicial to the interest of the members, and is thus of the opinion that the Company may be dissolved with effect from the date of the filing of the petition. 17 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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