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TMI Blog2025 (1) TMI 956X X X X Extracts X X X X X X X X Extracts X X X X ..... count available with the Official Liquidator since there is no fund in the account of the company in liquidation. Conclusion - M/s. Tirupati Foundry Private Limited (In Liquidation) is hereby dissolved under Section 481 of the Act and the Official Liquidator attached to this Court stands discharged and is relieved as liquidator of M/s. Tirupati Foundry Private Limited., (in Liquidation). - HONOURABLE MR. JUSTICE NIKHIL S. KARIEL MR DHAWAN M JAYSWAL (5878) For the Applicant ORAL ORDER 1. Heard Mr. Dhawan Jayswal, learned Advocate for the Applicant, Official Liquidator. 2. By this report under Section 481 of the Companies Act, 1956, the Official Liquidator has prayed for dissolution of the company, named, M/s. Tirupati Foundry Private Limited ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dhana Soc., B/h. Apna Bazar, Alkapuri, Vadodara and premises situated at 118/112, Kazi Sayeed Street, Bombay since both premises were the personal properties. Mr. Jaiswal, learned Advocate further informed that during the pendency of winding up petition, company sold its office situated at 703-704, Marble Arch, Race Course Road, Vadodara to M/s. Hawa Controls. At the time of taking over possession, authorized representative of M/s. Hawa Controls had refused to hand over the possession of the said asset. Hence, the Officials of the Official Liquidator could not take the possession of the said premises. 6. Mr. Jaiswal, learned Advocate further apprised at the time of taking over possession of Factory No. 85, Survey No.89 89/1, Gardia, Tal. Sa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vide order dated 14.06.2006 passed in O. J. Criminal Case No. 04 of 2003 disposed the said Criminal Case wherein imposed a cost of Rs. 2,000/- each to exdirectors with a direction to deposit the same in the Registry of the Hon ble Court. 10. Mr. Jaiswal, learned Advocate apprised that this Court vide order dated 03.04.2007 passed in COMA No. 135 of 2006 preferred by GSFC, permitted GSFC to sell Factory premises of the company situated at Plot No. 85, Survey No.89 89/1, Gardia, Tal. Savli, Vadodara in association with Official Liquidator under State Financial Corporation Act, 1951. In compliance of the said order, GSFC filed company application being COMA No. 287 of 2011 inter alia praying this Court to confirm the sale of land bearing Reven ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with the winding up of a company for want of funds and assets or for any other reason whatsoever and it is just and reasonable in the circumstances of the case that an order of dissolution of the company should be made, the Court shall make an order that the company be dissolved from the date of the order and the company shall be dissolved accordingly. 14. It is also stated by the Official Liquidator in the report that prior to dissolution of the company, the Official Liquidator issued letter dated 23.05.2023 addressed to the Registrar of Companies, Gujarat, Income-Tax Department, Secured Creditors and Exdirectors of the company to inform that the Official Liquidator proposes to dissolve the said company and their objections if any. Howeve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Chartered Accountants towards preparation of Auditor s Certificate from common pool account available with the Official Liquidator since there is no fund in the account of the company in liquidation. 20. Accordingly, M/s. Tirupati Foundry Private Limited (In Liquidation) is hereby dissolved under Section 481 of the Act and the Official Liquidator attached to this Court stands discharged and is relieved as liquidator of M/s. Tirupati Foundry Private Limited., (in Liquidation). 20. In case of any difficulty, affected party, if aggrieved with the present order, may apply for reviewing the same under per the provisions of Section 559 of the Companies Act, 1956. 21. Accordingly, the report is allowed in the aforesaid terms. - - TaxTMI - TMITa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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