9911796707
TMI Blog1999 (8) TMI 728X X X X Extracts X X X X X X X X Extracts X X X X ..... e of company application. 2. Perused the application, affidavit-in-support of the application, affidavit in reply filed by the petitioner and the rejoinder and additional rejoinder on behalf of the applicant. Perused also the report filed by the Official Liquidator dated 19-7-1999. 3. The brief facts of the case are that Centura Synthetics Ltd. which was ordered to be wound up by an order dated 24-2-1999 passed by this court in Company Petition No. 73 of 1997. 4. Thereafter it appears that the Official Liquidator went to the factory premises situate at Tank Road, Bhandup (W), Bombay-400 078 on 9-6-1999 and sealed the entire premises. In view thereof the present Applicant viz, M/s. Girish Textile Industries which was a partnership firm ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat as on 31-3-1996 the said job-work which was carried out for Centura Synthetics Ltd. came to an end and also the learned counsel for the applicant has relied on a letter dated 23-5-1996 wherein it is categorically mentioned that the company in liquidation viz, Centura Synthetics Ltd. which has addressed to the applicant mentioning that the aforesaid arrangement of job-work had come to an end with effect from 31-3-1996 and also that Centura Synthetics Ltd. has received back all the processed and un-processed fabrics lying with the Girish Textile Industries. This is a letter dated 3-5-1996 annexed as Exhibit 'E' to the affidavit-in-support of the application. The learned counsel for the applicant also pointed out that since April 1996 the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... liquidation were present at the premises. The report also discloses that all the records of Centura Synthetics Industries, Company in liquidation were kept in one room in a locked condition in the said factory premises. 7. Whereas the learned counsel for the petitioner contends that Jain group of directors hold about 18.30 per cent shares in Centura Synthetics Industries have about 90 per cent share in the applicants and that they have siphoned out all the assets of the company in liquidation. This aspect has to be fully investigated at the time of hearing of this company application, after full inventory is made by the Official Liquidator. 8. From all the aforesaid facts and circumstances as well as the facts borne out in the affidavit o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ustries, the same shall be segregated and kept separately, with the seal of the Official Liquidator. (c)The applicant shall furnish an undertaking to the Official Liquidator that the Applicant will not dispose of the said premises or any of the assets lying on the said premises and not to part with possession of the said premises or create any third party rights until further orders from this Court. The applicant shall submit the said undertaking at the time of taking possession of the said premises back from the Official Liquidator. (d)The learned counsel for the applicant on instructions of Mr. Chandraprakash Jain, Director of the Company in liquidation states that all the directors will file the necessary statement of affairs to the Of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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