Home Case Index All Cases Companies Law Companies Law + HC Companies Law - 2018 (12) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (12) TMI 269 - HC - Companies LawDissolution of the company in liquidation seeked by OL - winding up process itself is completed by the Official Liquidator long ago - Held that: This Court is of the considered opinion that these series of Company Applications is nothing but a sheer abuse of process of law and these applications are absolutely not maintainable and these frivolous applications are filed for wasting public time and Court time. It is too late in the day for these applicants to make such applications when long ago the winding up process itself is completed by the Official Liquidator duly appointed by the Company Court. The property of the company itself was acquired by the KIADB and even compensation was received from the KIADB and the funds so received have been distributed among the stakeholders of the said company in accordance with the provisions of the Act and remaining amount transferred to Public Fund of Government of India. This Court is at loss to understand this kind of series of applications, when majority of them came to be disposed of and dismissed for lack of any bonafides on the part of such applicants. Still either the same lawyer or the different lawyer with the same tenor of applications has kept on filing such applications with obviously the lack of particulars, the draft of Scheme or any good reason for moving such application at this belated stage or any measure taken to show their bonafide in the matter. The Official Liquidator prays before the Court that it is needed to finally dissolve the company in question as nothing more remains to be done. The learned counsels for Applicants still press for these kind of Applications. Therefore, this Court is left with no other option but, with sense of remorse and pain, to dismiss these Applications with exemplary costs and order that filing of such Applications is strongly discouraged and put to an end.
|