Home Case Index All Cases Companies Law Companies Law + HC Companies Law - 2015 (11) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (11) TMI 547 - HC - Companies LawWinding up petition - petitioner contending that the petitioner-Company has been defunct for long - Held that:- Registrar of Companies had declined the consideration under the Fast Track Exit Scheme, since the petitioner-Company's assets are said to have been encumbered and charged to the 3rd respondent, which was recorded by the Registrar of Companies as provided under the Companies Act. The petitioner asserted that there is no such due to the 3rd respondent and it is only for the reason of the Company being defunct that the charge was not lifted, after clearing the dues to the 3rd respondent. The 3rd respondent has also filed a counter affidavit, clearly indicating that there is no amount outstanding in the name of the petitioner herein and that no recovery proceedings are also pending. The charge noticed in favour of 3rd respondent, in the above circumstance, shall stand lifted. Thus it is only proper that the application under the Fast Track Exit Scheme be considered by the 1st respondent. Till such time, the proceedings at Exhibit P1 shall stand stayed.
|