In The Matter Of M/S Marc Medicare Ltd. (In Liqn.) Ol v. Mohammed Zafar S/O Mohd. Faizuddin And 2 ORS

(1) CAL87.09

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

NAGPUR BENCH : NAGPUR PURSIS STAMP NO.9/2024 IN COMPANY APPLICATION NO.87/2009 IN COMPANY PETITION NO.2/2005 Official Liquidator .Vs. Mohammed Zafar s/o Mohd. Faizuddin and Ors. --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Office Notes, Office Memoranda of Coram, Court's or Judge's orders appearances, Court's orders of directions and Registrar's orders --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Dr. Anjan De, Advocate for Official Liquidator. CORAM :

ANIL L. PANSARE, J.

DATE :

21.06.2024 In response to the order dated 19.01.2024, the Official Liquidator has filed pursis, disclosing the assets and liabilities of the company. According to the Official Liquidator, the total movable assets were to the tune of Rs.60,000/- of which Rs.58,487/-, has been spent towards payment of advance tax, income tax, audit fees, administrative charges, etc. Thus, the balance that remains is Rs.1,513/-. In addition, to the credit of the company lies an amount of Rs.2,083/-. Thus, as on today, the company has to its credit an amount of Rs.3,596/-. The Official Liquidator submits that the Employees Provident Fund Office, Nagpur has raised a claim of Rs.6,10,477/-, which has not been adjudicated by the Official Liquidator for want of funds.

As is evident, this amount cannot be paid for want of sufficient balance to the credit of the company. Further, this amount will be required by the Official Liquidator to meet the other administrative expenses which are more than the amount that is lying to the credit of the company. In the circumstances, I am of the opinion that the Official Liquidator cannot proceed with the winding up of the

(2) CAL87.09 company for want of funds and it is just and reasonable that an order of dissolution of the company should be made. Accordingly, the company viz. Marc Medicare Ltd., stands dissolved in terms of Section 481 (1) of the of the Companies Act, 1956. The Liquidator shall forward copy of the order to the Registrar in terms of Sub Section (2) thereof. (Anil L. Pansare, J.) Kahale