Official Liquidator Of Agrawal Polyfil Private Limited. (In Liquidation) v. Sbi Global Factors Ltd.(Earlier Known As Global Trade Finance Ltd.) (Petitioner)
Digitally signed by MEERA MAHESH JADHAV Date:
2026.04.27 19:06:26 +0530 1/3 MEERA MAHESH JADHAV
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION OFFICIAL LIQUIDATOR REPORT NO. 95 OF 2026 In the matter of the Companies Act I of 1956 And In the matter of Agrawal Polyfil Private Limited. (in Liquidation) Sbi Global Factors Ltd.(earlier Known As Global Trade Finance Ltd.)
...Petitioner
----- Ms. Akanksha Agrawal, for the Official Liquidator (Through VC). Mr. Satyajit Roul, Official Liquidator present. Mr. J. P. Gautam, Dy. Official Liquidator present. Ms Amruta Kundap i/b Mr. Bubna for Respondent. ----- CORAM :
ARIF S. DOCTOR, J.
th APRIL 2026 DATE :
P.C.
1.
The captioned Official Liquidator's Report is for permanent dissolution of the company in liquidation. Ms. Agrawal, learned counsel for the Official Liquidator points out that the company in liquidation does not have any recoverable assets. She seeks dissolution of the company in question and consequential dispensation with the compliances which would otherwise be required during the course of final dissolution of 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
2/3 funds available; and (iii) the status of the claim of the company. The details are as follows:
Date of Winding Up Funds available Claims In CP No.
(In Rs.) 11/06/2012 4,15,300 Claims were invited via in CP No. 435 of 2010 newspaper publication with last and CP No. 10 of 2011 date as 28/07/2023. No claims were received (para 9-10) 4.
By an Order dated 27 th February 2026, this Court granted prayer (a) of the Report. Prayer (a) is reproduced as follows - " a) In view of para (13) of this report, whether this Hon'ble Court may be pleased to audit of Half Yearly Accounts and Final Account by the panel Chartered Accountant of the Official Liquidator as required under Rule 302 of the Companies (Court) Rules, 1959 and permit the Official Liquidator to pay the panel Chartered Accountant necessary fee in connection with such audit and after filing of Audit Certificate with the Company Registrar of the Hon'ble Court and after such filing the Company Registrar to take such certificate on records;"
Learned Counsel for the Official Liquidator submits that the same has been complied with. The Chartered Accountant has prepared half yearly account statement for the period of 01.04.2024 to 30.09.2025 and prepared final account statement for 01.10.2025 to 06.02.2026. 5.
Learned counsel for the Official Liquidator has 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 1, Meghal Goan Riviera Resorts Private Limited through the Official Liquidator 1 (2024) SCC Online Bom 751
3/3 2, Delfin Expo Mart Vs. Royal Homes (P) Ltd. Vs. Shree Niwas Gimi K. K. Samiti 3, Re-Vikas Motors Pvt. Ltd.
4, Indiana Spices and Foods Regency Fashions Pvt. Ltd.
5 and Lalaji Paper Mills Pvt. Ltd 6.
Industries Ltd.
6.
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.
7.
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. 8.
Hence, the Official Liquidator's Report is allowed and disposed of in terms of prayer clauses (b), (c), (d), (e) and (f). [ARIF S. DOCTOR, J.] 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