The Official Liquidator v.

Comp.A.No.309 of 2021 SENTHILKUMAR RAMAMOORTHY, J.

This application is filed under Section 497(6) of the Companies Act, 1996 to pass an order of dissolution of M/s.Goodwill Financial Services Private Limited, which is the company in voluntary liquidation.

2. In support of this application, the Official Liquidator has filed a report dated 18.11.2021 along with 10 annexures thereto. M/s.Goodwill Financial Services Private Limited passed a special resolution dated 08.08.2016 for voluntary winding up and appointed Mr.A.M.Sridharan as the Liquidator. Pursuant thereto, the Liquidator submitted a report to the Official Liquidator that the affairs of the company in liquidation were fully wound up and that the final meeting was held on 08.03.2016. In such report, he stated that the final accounts were place before the members at the final meeting. A copy of the accounts were submitted to the Official Liquidator for scrutiny. It appears that a Declaration of Solvency was provided by the directors of the company on 07.03.2016 and a copy thereof was filed with the Registrar of Companies, Chennai, Tamil Nadu. The Official Liquidator has annexed relevant documents evidencing compliance with requirements for a voluntary liquidation under the 1/4

Companies Act 1956.

3. With regard to the assets and liabilities of the company, it is stated that the estimated value of assets as on the date of commencement of winding up was Rs.88,96,30,286/-. A sum of Rs.1,03,63,22,619.41/- was realized by the Liquidator from the sale proceeds of the assets of the company. The liabilities of the company were discharged from and out of the said sum. Eventually, the surplus of Rs.97,95,80,118/- was distributed in specie to the contributories of the company.

4. The Registrar of Companies has provided its no objection by letter dated 20.07.2021 which is annexure-IX to the report of the Official Liquidator. The Income Tax Department has also provided its no objection certificate dated 16.07.2021, which is annexure-X to the report.

5. Upon perusal of the aforesaid, it may be concluded that the affairs of the company were not conducted contrary to the interest of the members of the company or to public interest. As such, there is no impediment to order the dissolution of the company.

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6. For the reason stated above, M/s.Goodwill Financial Services Private Limited, a company in voluntary liquidation, is ordered to be dissolved. Consequential compliances shall be carried out. 10.12.2021 3/4

SENTHILKUMAR RAMAMOORTHY J.

bsm Comp.A.No.309 of 2021 10.12.2021 4/4