M/S Pudukonde Steels Ltd (In Liqn), v.

THE HON'BLE SRI JUSTICE A.RAJASHEKER REDDY COMPA.No.849 of 2017 in C.P. No.30 of 1995 O R D E R :

This Company Application is filed for an order to: i) form an opinion that the liquidator cannot proceed with the winding up and that in is just and reasonable in the circumstances of the case to order for the dissolution of the company.

ii) take on record the Half Yearly Accounts for the period from 01.04.2016 to 30.09.2016, 01.10.2016 to 31.03.2017 and 01.04.2017 to 13.09.2017 along with Audit Report.

iii) dispense with the filing of the final accounts of the company since realisation have been made on account of the company in liquidation.

iv) grant permission to deposit the unspent money available in the credit of the company's account after meeting all the incidental expenses of the winding up process, into the Companies Liquidation Account in terms of Section 555 of the Companies Act, 1956.

v) order that M/s.Pudukode Steels Ltd be dissolved with effect from the date of the order.

vi) permit the Official Liquidator to dispose of/ destroy the books of accounts and records of the company and day after expiry of 5 (five) years from the date of order of the dissolution of the company.

vii) permit the Official Liquidator to incur the cost of this application be me from the funds of the company in liquidation.

In support of the application, it is stated in para Nos.2 to 7 that an amount of Rs.21,116.19 ps and there is no assets

available in the name of the company in liquidation and no cases are pending in any Courts as per the available records and no further affairs can be pursued by the Official Liquidator.

In view of the facts and circumstances of the case, this application is allowed by dissolving the company with the following directions:

a) the Half Yearly Accounts for the period from 01.04.2016 to 30.09.2016, 01.10.2016 to 31.09.2017 and 01.04.2017 to 13.09.2017 along with Audit Reports is taken on record.

b) To dispense with the filing of the final accounts of the company in liquidation.

c) Permission is granted for depositing the unspent money available in the credit of the company account after meeting all the incidental expenses of the winding up process, into the Companies Liquidation Account in terms of Section 555 of the Companies Act, 1956. _______________________________ (A.RAJASHEKER REDDY, J) 13.12.2017 knl