M/S Webber Electric Private Limited (In Liqn.) v.

THE HON'BLE SRI JUSTICE M.S.RAMACHANDRA RAO COMPANY APPLICATION No.833 of 2017 in COMPANY PETITION No.28 of 1987 ORDER:

M/s.Webber Electric Private Limited, a Company incorporated under the Companies Act, 1956 (for short "the Act") was ordered to be wound up by this Court on 08-09-1989 in C.P.No.28 of 1987.

2.

There upon, the Official Liquidator took possession of the assets of the Company and sold the same for Rs.16,70,000/- through order dt.14-10-2003 in C.A.No.570 of 2003 and handed over possession of the property to the purchasers. No other assets were available to be realized.

3.

Thereafter claims were invited pursuant to order dt.28-04-2004 in C.A.No.900 of 2004 and paper advertisement was made in Deccan Chronicle and Andhra Jyothi on 01-06-2004 fixing the last date for submission of claims on 30-06-2004. Thereupon, claims were received from Syndicate Bank, CTO and APIIC, and the amount was disbursed to the creditors. 4.

The Official Liquidator states that only a sum of Rs.54,211.61 Ps is available to the credit of the Company in liquidation, that there are no other assets to the said Company and no cases are pending in any Court as per available record. According to him, there is nothing further to be done by his

MSR,J Compa_673_2017 office and he therefore prays that the Company in liquidation be dissolved.

5.

Having regard to the above statement by the Official Liquidator, it is directed that the Company in liquidation be dissolved and the Company Petition be closed. 6.

The Official Liquidator is permitted to transfer the unspent amount available in the funds of the Company to the Companies Liquidation Account in terms of the provisions of Section 555 of the Act and the half-yearly accounts filed upto 30-09-2016 and for the subsequent period from 01-04-2016 till 14-09-2017 as well as the Auditor's report thereon are taken on record. Therefore the filing of the final accounts of the Company in liquidation is dispensed with.

7.

Accordingly, this application is allowed and the Official Liquidator is permitted to dispose of/destroy the books of accounts and records of the Company any day after expiry of five

(05) years from the date of order of the dissolution of the Company. He is also permitted to incur the cost of this application to be met from the funds of the Company in liquidation. No costs.

__________________________________ JUSTICE M.S.RAMACHANDRA RAO Date: 26-10-2017 Vsv