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2016 (3) TMI 291 - GUJARAT HIGH COURT

2016 (3) TMI 291 - GUJARAT HIGH COURT - TMI - Dissolution of the Company as prayed by Official liquidator - Held that:- It is stated by the Official Liquidator, that proper Books of Accounts, as required have been maintained before and after liquidation of the Company. Hence, nothing objectionable has been noticed while scrutinizing the records submitted to the Office of the Official Liquidator. Therefore, the directions as sought may be granted.

Having heard learned counsel for the o .....

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s submitted the present report, making the following prayers: (a) This Hon ble Court may be pleased to take on records, the report of the Official Liquidator. (b) The above named Company may kindly be ordered to be dissolved in terms of Section 497(6) of the Companies Act, 1956 from the date of submission of this report to this Hon ble Court and if it is deemed fit and proper under the facts of the case, to direct the Voluntary Liquidator to preserve the Books of Accounts of the Company (In memb .....

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s Private Limited (the respondent-Company) was registered on 27.05.1971, under the Companies Act, 1956, (for short the Act ), with the Registrar of Companies with an authorized share capital of ₹ 6,00,00,000/divided into 6,00,00,000 equity shares of ₹ 1/each. That the Voluntary Liquidator Mr. Alok B Shah, (respondent) has submitted the reports and documents pertaining to the voluntary winding up of the company, which were received in the Office of the Official Liquidator on 07.07.201 .....

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liaries and accessories. (2) To manufacture, import, export, buy, sell, repair, renovate and deal in electrical instrument, equipment, machineries, stores, spare parts, auxiliaries and accessories...... 4 As per the subscription clause of the Memorandum of Association and Articles of Association of the Company, the following persons were subscribers of the Company: Sr No Name Address No. of Share Hold 1 Lalitkumar Haribhai Patel Bavla, Dist: Ahmedabad 1 2 Urmilaben Lalitkumar Patel Bavla, Dist: .....

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Samir Navinchandra Patel 43680 6 Mr. Rashmikant Babubhai Patel 18953 7 Mr. Umeshkumar Babubhai Patel 31710 8 Mr. Udayan Babubhai Patel 18952 9 Mr. Kunjal Lalitkumar Patel 198881 10 Mr. Navinchandra Ranchhodbhai Patel 168 11 Mrs. Sudha Rashmikant Patel 22312 12 Mrs. Jayshree Udayanbhai Patel 22313 13 M/s. Lalitkumar Haribhai PatelHUF 14490 14 Smt. Tarikaben Bharatbhai Patel 6720 15 Smt. Nishaben Samirbhai Patel 6720 16 M/s. Kunjal Investments Private Limited 22239 17 Minor Jwalin K Patel 5586 18 .....

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of Solvency dated 05.02.2015, under Section 488 of the Act, with the Registrar of Companies, Gujarat, on 05.02.2015 in Form No. 149, as prescribed under Rule 313 of the Company (Court) Rules, 1959. It is declared that the Company has no debt. 7 At the Extra Ordinary General Meeting of the Company held on 12.02.2015, a Special Resolution was passed by the members stating that the Company would be able to pay its dues in full on, or before, 31st March, 2017, and the Company be wound up voluntaril .....

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aJansatta , and the English daily newspaper Indian Express , both Vadodara Editions on 16.02.2015 and in the Government Gazette on 26.02.2015. 9 The said final statement of accounts of the Company was approved at the General Meeting of the Company held on 30.06.2015, as per Section 497 of the Act. The position of assets and liabilities of the Company as on 31.03.2015, is as below: Assets: Estimated Assets Estimated Value (Rs) Value Realized (Rs) Balance at Bank 99,43,581/ 99,43,581/- Cash in Han .....

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