TMI Blog2013 (1) TMI 77X X X X Extracts X X X X X X X X Extracts X X X X ..... the Company for want of funds or for any other reason, the Court can make an order dissolving the Company from the date of that order. This puts an end to the winding-up process. In view of the this decision and the facts and circumstances of this case, the liquidation proceedings deserve to be brought to an end. The Official Liquidator is permitted to transfer the balance fund i.e. Rs.89,724/available in the Company’s account to the Reserve Bank of India after creating provision for payment of government fee, audit fee and other liquidation expenses. A copy of this order shall be communicated to the Registrar of Companies within 30 days by the Official Liquidator. - CO.PET. 179/1994 - - - Dated:- 11-12-2012 - INDERMEET KAUR, J. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tatements recorded under Rule 130. As per their statements the only asset of the Company was the factory at C-42, Sector-2, Noida which was owned by the Company. These statements also revealed that day to day business and the records of the Company were being handled by Vipin Sahni, ex-director of the Company. 4. Statement of affairs was not filed by the ex-directors. Record has also not been handed over by them. On 29.11.2012, the application under Sections 468/477 of the Companies Act and the complaint filed by the Official Liquidator under Section 454(5) of the Companies Act were disposed of. 5. Pursuant to the orders of this Court the last audited balance sheet of the Company for the year 31.03.1995 had been collected from the ROC w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs, namely, Hindustan Times (English Edition) and Dainik Jagran (Hindi Edition). No claims have been received except the claim of the petitioning creditor i.e. Sri Ram Bearing Ltd. (SBL); the claim of the petitioning creditor to the tune of Rs. 3,03,505.08/- along with interest at the rate of 8% per annum totaling a sum of Rs. 7,52,700/- has since been paid to the petitioning creditor and undertaking of Vipin Sahni and Kiran Sahni has been noted that in case any claim arises in future i.e. of the secured creditor, unsecured creditor, workman or any other category they will satisfy the said claim. 9. There are no other assets available for realization. In view of the aforenoted factual position, no useful purpose would be served in kee ..... X X X X Extracts X X X X X X X X Extracts X X X X
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