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2013 (8) TMI 724 - HC - Companies LawWinding up Petition u/s 433(e) and (f) r.w.434 and 439 of the Companies Act - Held that:-The order and directions will not be given effect to for a period of nine weeks to enable them to make payment of the outstanding amount by that time – if no payment was made and/or neither party applies to the Court for any directions, the order for appointing the OL will become operational - the OL will file a status report by the next date. The OL was appointed and was directed to take over all the assets, books of accounts and records - The OL shall also prepare a complete inventory of all the assets before sealing the premises in which they were kept - He may also seek the assistance of a valuer to value the assets - He was permitted to take the assistance of the local police authorities, if required - Publication of the citation of the petition be effected in the Official Gazette, 'The Statesman' (English) and 'Veer Arjun' (Hindi) in terms of Rule 24 of the Companies (Court) Rules, 1959 ('Rules'). Directors were directed to strictly comply with the requirements of Section 454 of the Act and Rule 130 of the Rules and furnish to the OL a statement of affairs in the prescribed form verified by an affidavit within a period of 21 days from when the order becomes operational - They will also file affidavits in the Court, with advance copies to the OL, within four weeks setting out the details of all the assets, both movable and immovable and enclose therewith the balance sheets, profit and loss accounts and copies of the statements of all the bank accounts for the last three years.
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