9911796707
TMI Blog2025 (1) TMI 956X X X X Extracts X X X X X X X X Extracts X X X X ..... COMP No. 137 of 1996 and appointed Official Liquidator as the Liquidator of M/s. Tirupati Foundry Private Ltd., (In Liquidation). 3. The report indicate that consequent upon winding up order passed by this Court, the Official Liquidator deputed his Official at the Office of Registrar of Companies, Gujarat, Ahmedabad to inspect the records of the said company maintained by the office of the Registrar of Companies, Gujarat to find out the assets and properties, liabilities, address of Registered Office, factory premises, Secured Creditors, and names and addresses of the Directors, as on the date of winding-up order, wherein it was revealed that, the company in liquidation were having following assets:-- Sr. No. Registered Office & factory ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ficials of the Official Liquidator that they have already taken possession of said assets under Section 29 of SFC Act. Hence, the Officials of the Official Liquidator could not take possession of the said assets. 7. The report indicates that the Official Liquidator filed compliance report being OLR No. 23 of 2003, inter-alia, praying the Hon'ble Court to ratify the action of not taking possession of the assets and properties of the company in liquidation. This Court vide order dated 03.04.2007 passed in OLR No. 23 of 2003 ratified the action of the Official on the basis of relevant documents / information provided by the Official Liquidator. 8. Mr. Jaiswal, learned Advocate further apprised that as per the provisions of the Companies Act, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t. Baroda in favour of the highest bidder. This Court vide order dated 16.12.2011 passed in COMA No. 287 of 2011 was pleased to confirm the sale of the said land in favour of the highest bidder for sale consideration of Rs. 157.25 Lakh. 11. The report indicates that M/s. Hawa Controls, purchaser of office No. 703-704, Marble Arch, Race Course Road, Vadodara preferred COMA No. 622 of 2006 before this Court under Section 531 & 531A of the Companies Act, 1956 for validation of the transaction. This Court vide order 12.12.2007 passed in COMA No. 622 of 2006 allowed the said application with direction to the Official Liquidator not to take possession of the property in question. 12. The Official Liquidator also stated in report that as per the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tment, Secure Creditor, ROC and Ex-directors of the company under liquidation. 15. The Official Liquidator has also further averred that half yearly statement of accounts of the Company in liquidation has already been filed before this Court as provided under Rule 298 of the Companies (Court) Rules, 1959. 16. It is therefore, contended that in these circumstances, it is not possible for the Official Liquidator to further carry out the proceedings of winding up. The Official Liquidator has also contended that even after the order of dissolution that may be passed by this Court as provided under Section 559 of the Act, the period of 2 years is available for anybody to raise the objection and file an appropriate proceeding before this Court. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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