TMI Blog2004 (10) TMI 348X X X X Extracts X X X X X X X X Extracts X X X X ..... ns and on 13-10-2004, learned Sr. Counsel Mr. S.N. Soparkar appeared for the petitioners and had taken this Court through relevant aspects and learned Addl. Central Government Standing Counsel Ms. Davawala had placed the version of the department as reflected in the affidavit and the documents attached in support of the affidavit, i.e., page Nos. 47 to 59. When matter was listed on 25-10-2004, it was pointed out that now Ms. Davawala is not appearing on behalf of Central Government and so in the interest of justice, matter was adjourned and Registry was directed to list the matter for final disposal today. 3. It has been submitted by the petitioners that as the complainant-respondent No. 2 has failed in withdrawing the criminal procee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ies, there was no need to increase the paid-up capital at all. It is the say of the petitioners that as per the provisions of section 3(5) of the Act, at the most proceedings under section 560 of the Act could have been initiated against the petitioners and not the criminal proceedings. General Circular No. 13/2003 has not been properly complied with and it was not even required for the company itself to make an application. It is relevant to note that second application was also moved by the petitioner No. 1 company on 24-6-2003 under Simplified Exit Scheme and appropriate administrative decision has been taken by the authority. Even then the department is not dropping the proceedings or withdrawing the case. 4. Reply affidavit filed b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wspaper like Gujarat Samachar, Sandesh and Indian Express vide newspapers dated 6-12-2003, 30-5-2003, 6-7-2003, 9-7-2003, 28-5-2003, 29-5-2004, 6-7-2004, 9-7-2004, 6-7-2004, 17-8-2004 and 18-8-2004. After expiry of 45 days of such publication further actions are required, i.e., Gazette publication and final strike off to be taken. In the present case final step for publication in Goverment of India Gazette has already been taken vide this office letter dated 14-9-2004 and the respondent-Office inviting for the publication of the Gazette Authority. On receipt of the publication copy from the Gazette Authority the name of the petitioner-company will be struck from the Register immediately. However, it is submitted that still such final ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the publication of the notification referred to in the reply, affidavit must be after taking decision to strike off the name. So, the name of the company must have been struck off before publication of the notification. After publication of Notification, the Company stand dissolved. This submission is very much accepted by the complainant inasmuch as in Notice Annex B enclosed in support of the affidavit of respondent No. 2, it has been clearly notified that : "Notice is hereby given pursuant to section 560(5) of the Companies Act, 1956, that names of the following companies from the date of publication in the Official Gazette of this notice, the companies shall be dissolved." In view of above, it is of no use continuing with criminal ..... X X X X Extracts X X X X X X X X Extracts X X X X
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