M/S Shivaji Estate Live-Stock And Farms Pvt. Ltd., Nagpur (In Prov. Liquidation) v. None

(1) OLR16.18

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

NAGPUR BENCH : NAGPUR OFFICIAL LIQUIDATOR'S REPORT (OLR) NO.16/2018 IN COMPANY PETITION Nos.15/2002 & 16/2002 In the matter of M/s. Shivaji Estate Live Stock. WITH COMPANY APPLICATION NO.7/2017 M/s. Shivaji Estate Live Stock and Farms Pvt. Ltd. .Vs. Anil Damodhar Bharatey and 3 Others.

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 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 :

19.01.2024 Dr. De, learned counsel for the Official Liquidator, on instructions, submits that he is not pressing for order on Official Liquidator's Report No.16/2018.

Official Liquidator's Report No.16/2018 stands disposed of as not pressed.

COMPANY APPLICATION NO. 7/2017 The application has been filed by the Official Liquidator in terms of Section 454 (5) and (5A) of the Companies Act, 1956. The Directors were made accused for not submitting statement of affairs within 21 days in terms of Sub Sections (1), (2) and (3) of Section 454 of the Act. I am informed that accused nos.1, 2 and 4 were served. They, however, did not appear before the court. Accused no.3 is not traceable. Thereafter, the Official Liquidator has not taken any step to secure presence of the accused. Resultantly, there is absolutely no progress in the application for last 7 years.

(2) OLR16.18 The complaint filed under Section 454 has to be tried as summons case. Chapter XX of the Criminal Procedure Code, 1973 deals with the procedure for summons case. Section 258 provides for stopping of case at any stage by recording reasons.

In my view, what has been stated above, are good reasons to stop the proceedings. It appears that except for wasting judicial time and public money in tracing the accused, no fruitful result would be achieved in continuing with the proceedings. Had the Official Liquidator acted promptly, some fruitful result could have been expected. Having failed to do so and considering the long span of 7 years wherein there is no progress, in my considered view, the proceedings are required to be stopped/dropped in terms of Section 258 of the Criminal Procedure Code, 1973. Order accordingly.

The official liquidator shall place on record the status of assets and liabilities to proceed with the dissolution of the company.

The Court Commissioner stands discharged. The Official Liquidator shall quantify and pay the Commissioner's charges, in accordance with rules.

(Anil L. Pansare, J.) Kahale