Official Liquidator Of Shri Jaggannath Films Pvt. Ltd. (In Liquidation) v. Applause Entertainment Pvt. Ltd. (Petitioner)
Digitally signed by MEERA MAHESH JADHAV Date:
2026.01.13 19:32:03 +0530 1/6 MEERA MAHESH JADHAV
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
(10) OFFICIAL LIQUIDATOR REPORT NO. 152 OF 2025 IN COMPANY PETITION NO. 304 OF 2003 In the matter of Companies Act, I of 1956;
And In the matter of Bombay Bazar Ltd (in Liquidation) Sunil S Indoria.
AND
(11) OFFICIAL LIQUIDATOR REPORT NO. 154 OF 2025 IN COMPANY PETITION NO. 160 OF 2011 In the matter of Companies Act, I of 1956;
And In the matter of Sai Shradha Shipping Agencis Pvt Ltd. (in Liquidation) Bell Finvest (India) Ltd.
AND
(13) OFFICIAL LIQUIDATOR REPORT NO. 156 OF 2025 IN COMPANY PETITION NO. 564 OF 1997 In the matter of Companies Act, I of 1956;
And In the matter of Balshia Securities Ltd (in Liquidation)
2/6 National Stock Exchange of India Ltd.
AND
(16) OFFICIAL LIQUIDATOR REPORT NO. 161 OF 2025 IN COMPANY PETITION NO. 84 OF 2004 In the matter of Companies Act, I of 1956;
And In the matter of Maha Containers Pvt.
Ltd (in Liquidation) Ispat Industries Ltd.
AND
(17) OFFICIAL LIQUIDATOR REPORT NO. 1 OF 2026 IN COMPANY PETITION NO. 179 OF 1990 In the matter of Companies Act, I of 1956;
And In the matter of Shronics Investments Engineering Pvt Ltd (in Liquidation) Balmer Lawrie & Company Ltd.
AND
(18) OFFICIAL LIQUIDATOR REPORT NO. 2 OF 2026 IN COMPANY PETITION NO. 580 OF 2009 In the matter of Companies Act, I of 1956;
And In the matter of Shri Jaggannath Films Pvt. Ltd (in Liquidation)
3/6 Applause Entertainment Pvt Ltd.
_______ Mr. Anirudh Hariani, for Official Liquidator. Mr.Satyajit Roul, Official Liquidator present. Mr. Anil Bhagure, Deputy Official Liquidator present. Mr. Vishal Jathar i/b Parinam Law Associates for Petitioner in OLR No.156/25 _______
CORAM
:
ARIF S. DOCTOR, J.
th JANUARY 2026 DATE :
P.C.
1.
All these matters were placed on board today since a common issue arises. Each of the captioned Official Liquidator's Reports seeks dissolution of the Companies in question and consequential dispensation with the compliance which would otherwise be required during the course of final dissolution of a company in liquidation.
2.
For the convenience of the Court, the Official Liquidator has prepared a list setting out (i) the date on which the winding-up order was passed; (ii) the funds available; and (iii) the status of the claim in each of the companies. 3.
The details of each of the companies are set out as follows: Sr. No.
OLR NO.
Date of winding Funds Available Claims up /provisional liquidator appointment OLR No. 152/2025 Official Rs.5772/- No claims (Bombay Bazar Ltd.) Liquidator including invited, no suoappointed as preliminary moto claims provisional expenses of Rs.
received.
liquidator on 20 5000/- deposited [Para 13 @ 7]
4/6 November 2003.
by the Petitioner, [Para 1 @ 1] which are to be returned to Petitioner.
[Para 10 @ 7] OLR No. 154/2025 Company Nil No claims (Sai Shraddha Shipping ordered to be [Para 10 @ 5] invited, no suoAgencies Pvt. Ltd.) wound up on 13 moto claims July 2012.
received.
[Para 1 @ 1] [Para 12 @ 5] OLR No. 156/2025 Company Rs.5000/- No claims (Balshia Securities Ltd.) ordered to be [Para 9 @ 4] invited, no suowound up on 16 moto claims March 1999.
received.
[Para 1 @ 1] [Para 11 @ 5] OLR No. 161/2025 Company Preliminary No claims (Maha Containers Pvt.Ltd.) ordered to be expenses of Rs.
invited, no suowound up on 30 5000/- deposited moto claims June 2010.
by the Petitioner, received.
[Para 1 @ 1] which are to be [Para 13 @ 7] returned to Petitioner.
[Para 11 @ 6] OLR No. 1/2026 Company Rs.71,384.46/- to Claims invited;
(Shronics Investments ordered to be be transferred to no claims Engineering Pvt. Ltd.) wound up on 5 the "Companies received February 1992.
Liquidation [Para 11 @ 5] [Para 1 @ 1] Account"
[Para 9 @ 4] OLR No. 2/2026 Company Preliminary No claims (Shri Jaggannath Films Pvt.
ordered to be expenses of Rs.
invited, no suoLtd.) wound up on 26 5000/- deposited moto claims July 2010.
by the Petitioner, received.
[Para 1 @ 1] which are to be [Para 8 @ 5] returned to Petitioner.
[Para 6 @ 4]
5/6 On a query from the Court as to why no claims were invited in respect of some of the aforesaid companies, it was pointed out that this was because those companies neither have any funds nor do they have any assets. This is set out in each of the reports filed by the Official Liquidator. It is in the context of these facts that the various directions have been sought. Learned counsel have also placed reliance upon various decisions which support the directions which are today sought for, useful reference can be placed upon the decision of this Court in the case of Goan Riviera Resorts Private 1, Meghal Homes (P) Ltd. Vs. Shree Niwas Limited through the Official Liquidator 2, Delfin Expo Mart Vs. Royal Regency Fashions Pvt. Ltd. 3, Vikas Gimi K. K. Samiti 4, Indiana Spices and Foods Industries Ltd.
5 and Lalji Paper Mills Motors Pvt. Ltd.
6.
Pvt. Ltd In each of the aforesaid decisions, the Court proceeded to allow dissolution of the company in liquidation since there was a lack of sufficient or substantial funds or assets, and no useful purpose would be served by keeping the process of winding-up or liquidation alive.
Mr. Hariani has also pointed out that in those petitions where deposits have been made by the Petitioners creditors, in the event the Liquidator despite best efforts is unable to refund those amounts, then the Liquidator be permitted 1 (2024) SCC Online Bom 751 2 (2007) 7 SCC 753 3 (2023) SCC Online Del 3866 4 (2023) SCC Online Del 4634 5 (2020) SCC Online Del 705 6 (2019) SCC Online Del 10739
6/6 to transfer the said amounts to the company liquidation account under Section 555 of the Companies Act 1956 .
8.
Having heard learned counsel and having perused the judgments upon which reliance is placed, I am satisfied that a case has been made out for allowing the aforesaid Official Liquidator's Report. Hence the Official Liquidator's Reports are accordingly allowed and disposed of as prayed for.
[ARIF S. DOCTOR, J.]