Various Companies (In Liquidation) v. Na
Santosh
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION SANTOSH SUBHASH KULKARNI OFFICIAL LIQUIDATOR'S REPORT NO. 1 OF 2022 SANTOSH SUBHASH KULKARNI Date: 2023.01.06 15:11:20 +0530 In the matter of the Companies Act, I of 1956 And In the matter of Various Cos. (In Liquidation) Mr. Shatrughan Chauhan, Dy. Official Liquidator, present.
CORAM:
N. J. JAMADAR, J.
DATED :
4th JANUARY, 2023 PC:- 1.
Heard the Deputy Official Liquidator.
2.
The Court is informed that pursuant to order dated 23rd November, 2022, a dissolution notice was published in "Free Press Journal" and "Navshakti" on 1st December, 2022. 3.
An affidavit is filed reporting compliance. It is affirmed that the office of the Official Liquidator has not received any comments, claims and objections from the creditors, workers, stakeholders and share holders of 24 companies (in liquidation) which are proposed to be dissolved.
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4.
The dissolution notice published in the newspaper read as under:
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION OLR NO. 01 of 2022/ Various Companies In the matter of Dissolution of Various Companies (In. Liqn.) DISSOLUTION NOTICE Whereas the Official Liquidator attached to the Hon'ble High Court of Bombay has filed an OLR No. 01 of 2022 under Section 481 of the Companies Act, 1956 for dissolution of the Companies enlisted below. And whereas the Hon'ble High Court vide order dated 23rd November, 2022 has directed issuance of notice inviting objection, if any, in respect of the said Company (in liqn.) enlisted herein below. In compliance of the order dated 23rd November, 2022, notice is hereby given to the workers, creditors, contributories, stake holders and general public to file objection, if any, against the dissolution of the following Companies (in liqn.)
to the undersigned within 14 days from the date of publication of the present notice. In case, no objections are received, further proceedings will be initiated for dissolution of the companies (in liqn.) Any objection raised after the expiry of time stipulated herein shall not be entertained and any aggrieved person may take recourse to Rule 285 of the Companies (Court) Rules 1959 read with Section 559 of the Companies Act, 1956 as may be advised in case company get dissolved.
COMPANIES UNDER COMPULSORY WINDING UP:- Sr.
No.
Name of Company Company Petition No.
Date of winding up Vilas Udyog Ltd 12.10.1972 V. Pamlays Ltd 17.10.1972 Amar Fabricator Pvt. Ltd 15.11.1972 Sai Resorts Pvt. Ltd.
14.06.1994 Galva Steels (Bombay) Pvt. Ltd.
25.10.1994 Altra Chemicals Private Limited 19.09.1996 United Express Services P. Ltd.
05.12.1997 Dupon Silk Industries Pvt. Ltd.
13.01.1999 Sudesh Iron and Steel Works Pvt. Ltd.
10.10.1996 Harsh Exports Ltd.
27.09.1985 Folklore Communication and Management Services Pvt. Ltd.
29.06.2000 Goodluck Land Developers Pvt.
Ltd.
12.07.1999 Gopal Krishna Papers Mills Pvt.
Ltd.
24.02.1983 Collies Lines Pvt. Ltd.
22.12.1982 Madhavlal & Company Pvt. Ltd.
12.02.1986 2/4
Singland Development Company Pvt. Ltd.
22.01.1987 Padmini Textiles Pvt. Ltd.
24.10.1991 Khandesh Chemicals Limited 12.02.1986 A.H.Baily & Associates Pvt. Ltd.
11.06.1987 Popular Colour Lab Pvt. Ltd.
08.12.1998 Fine Shipping & Weaving Mills Pvt. Ltd.
04.12.1998 Super Textiles Engineering Limited 27.10.1988 Saga Publications Pvt. Ltd.
27.11.1987 Sohil Fine Chemicals Pvt. Ltd.
27.08.1990 Dated this 28th November, 2022 SD/- (CHANDAN KUMAR) OFFICIAL LIQUIDATOR HIGH COURT, BOMBAY 5th Floor, Bank of India Building, M.G. Road, Fort, Mumbai - 400 023.
Tel.:- 22670024, 22675008."
5.
In the report, the Official Liquidator asserts that winding up orders in respect of the aforesaid companies have been passed almost 20 years ago and there are no funds/insufficient funds available to the credit of the companies nor any asset is available. It is further asserted that no litigation is pending in respect of aforementioned companies and, therefore, no purpose would be served in keeping these companies under liquidation as no steps in liquidation could be carried out in these companies and it would, therefore, be appropriate to dissolve the companies. In view of the aforesaid assertion in the report and the fact that the winding up orders have been passed 20 to 50 years ago and no fruitful purpose has been achieved in the 3/4
intervening period in the winding up proceedings, the prayers in the Report appear justifiable.
6.
Hence, the report is made absolute in terms of prayer Clauses (c), (d) and (e), which read as under: "(c) If prayer clauses (a) and (b) are granted and pursuant to the said advertisement, if no proper comments, claims, objections are received from the creditors, workers, stakeholders, shareholders of the said companies (in liquidation) by the office of the Official Liquidator, this Hon'ble Court may be pleased to dissolve the said 24 companies listed in Exhibit 'E' where no Liquidation Proceeding can be carry out, under Section 481(1) of the Companies Act, 1956;
(d) If prayer clause (c) is in affirmative, whether this Hon'ble Court may be pleased to permit the Official Liquidator to transfer the said amounts lying to the credit of the said Companies (in liqn.) to the "Companies Liquidation Account" i.e. the public account of India in the Reserve Bank of India in terms of Section 555 of the Companies Act, 1956 read with Rule 283 of the Companies (Court) Rules, 1959;
(e) If prayer Clause (c) is in affirmative, whether this Hon'ble Court may be pleased to dispense with the filing of half yearly accounts as required under Section 462 of the Companies Act, 1956 as the same will not be feasible due to the insufficient funds in the credit of said companies (in liquidation)."
[N. J. JAMADAR, J.] 4/4