TMI Blog2012 (5) TMI 115X X X X Extracts X X X X X X X X Extracts X X X X ..... at the same has not been disposed of. a perusal of the reasons assigned in the application supported by an affidavit seeking condonation of delay would indicate that apart from the amount which was due and payable to the creditors who had initiated the winding up petition in Co.P.No. 91/2002, the Company-in-liquidation was also due certain amounts to KSIIDC. The manner in which the statement of affairs has been filed on 30.05.2007 and the revised statement on 23.10.2007 would indicate that immediately on C.A. No. 869/2005 being disposed of, necessary steps have been taken by the respondents for filing statement of affairs. As already noticed, the deficiencies in the statement of affairs in any event would entail its consequence in accordanc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s marked as Ex.P2. The matter had thereafter been set down for recording Section 313 Cr.P.C. statement of the respondents, On the earlier date, for the said purpose, the matter had been referred to the learned Civil Judge (Sr.Dn.) (Leave Reserve) (OOD) for the purpose of recording the statement, However, since all the respondents were not present, the same could net be done. Accordingly, the matter has been listed before this Court today. 3. Considering that an application under Section 454 has been pending from the year 2005, the records were perused by this Court in depth to find out as to whether any purpose would be served in retaining the main application in C.A. No. 672/2005 on file without proceeding further in the matter when th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts. In that regard, a clarification sought from the learned counsel representing the Official Liquidator would reveal that the Official Liquidator in fact by the communication dated 19.01.2010 had pointed out certain discrepancies in the statement of affairs bringing it to the notice of the respondents that the details of certain statements made in the statement of affairs relating to bank balance, loans and advances, sundry debtors and marketable securities were to be furnished by the respondents. 5. The learned counsel for the Official Liquidator would contend that the said requirements have not been satisfied by the respondents and in any event, no other materials were placed before this Court to indicate that the same have been comp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ond time, but they have reasonable excuse for doing so. Therefore, the delay in filing the statement of affairs is sought to be condoned. In that regard, I am of the opinion that insofar as the facts of the instant case are concerned, the order to be passed on CA.No. 185/2008 would answer the main application in CA.No.672/2005, as it depend on the satisfaction of this Court about the explanation offered for the delay. 7. In that view of the matter, a perusal of the reasons assigned in the application supported by an affidavit seeking condonation of delay would indicate that apart from the amount which was due and payable to the creditors who had initiated the winding up petition in Co.P.No. 91/2002, the Company-in-liquidation was also d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... quirements were to be complied with, a revised statement was filed on 23.10.2007. The manner in which the statement of affairs has been filed on 30.05.2007 and the revised statement on 23.10.2007 would indicate that immediately on C.A. No. 869/2005 being disposed of, necessary steps have been taken by the respondents for filing statement of affairs. However, in effect since withdrawal of C.A. No. 869/2005 resulted in the fact that the order dated 04.04.2005 had taken effect from the said date, there is delay In filing the statement of affairs, if reckoned from the said date. 9. Therefore, in such circumstance, when there was conscious efforts on the part of the respondents to revive the company even though the order of winding-up had be ..... X X X X Extracts X X X X X X X X Extracts X X X X
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