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In Re : Official Liquidator of M/s Anjali Coating Pvt. Ltd

2018 (1) TMI 504 - GUJARAT HIGH COURT

Dissolution of the company in liquidation under Section 481 of the Companies Act, 1956 - Held that:- The Court, having heard learned advocate Ms.Chandarana and considered the contents of the report, finds that as certified by the Chartered Accountant, since there is no fund available with the company and there are no assets and properties of the company, the Official Liquidator shall not be now required to take any action in furtherance of winding up proceedings. - Since there are no funds .....

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in the case of E.P.F. Commissioner (2011 (11) TMI 639 - Supreme Court Of India), nothing could be done at this stage in connection with the provident fund dues for which proceedings are initiated by the concerned authorities under the Employees’ Provident Fund Act somewhere in the year 2013. - In view of the above, the company in liquidation – M/s.Anjali Coating Private Limited is ordered to be dissolved under Section 481 of the Act and the Official Liquidator attached to this Court is disc .....

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ORDER [1] Present report is filed with the following prayers. (a) The Company in Liquidation may be ordered to be dissolved in terms of Section 481 of the Companies Act, 1956 and the Official Liquidator attached to this Hon ble Court may be discharged and relieved as Liquidator of M/s.Anjali coating Pvt. Ltd. (In Liqn.) The Ex-Director may give an undertaking that if any liability in future arises he will be responsible. (b) Such other and further orders and directions as this Hon ble Court may .....

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ial Liquidator have took possession of both properties of the company in liquidation situated at Registered Office at 19, GIDC, Makarpura, Vadodara - 390 010 and factory premises at 87, GIDC Industrial Estate, Por, District : Vadodara on 25.07.2002. 6. That, the Official Liquidator most respectfully submits that the Hon ble High Court of Gujarat vide order dated 26.07.2006 passed in OLR No. 81 of 2006 has confirmed sale of the properties and assets situated at Plot No.19, GIDC, Makarpura, Vadoda .....

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of 2008 has confirmed sale of the properties and assets situated at Plot No.87, GIDC Estate, Por - Ramangamdi, District : Vadodara in favour of M/s. Energy Process Equipments for ₹ 86 Lacs. On receiving full sale consideration, the possession of the factory premises of the Company has been handed over to the purchaser M/s. Energy Process Equipments on 16.04.2009. A copy of order dated 12.12.2008 passed in OLR No.47 of 2008 is annexed hereto and marked as Annexure C . 8. That, the Official .....

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Official Liquidator most respectfully further submits that the Official Liquidator had filed Criminal Case No.5 of 2002 before Hon ble High Court against the Ex. Directors of the company in liquidation for non filing of Statement of Affairs under Section 545(5) of the Companies Act, 1956. The Hon ble High Court vide order dated 12.03.2013 passed in Criminal Case No.5 of 2002 has disposed of the said Criminal Case observing that accused No.1 is not traceable despite the orders made by the Court t .....

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11. That, the Official Liquidator most respectfully submits that the Official Liquidator has received Order to attach movable property in the custody of a Court or Public Officer dated 29.11.2013 from Employees Provident Fund Organization specifying that an amount of ₹ 24,15,556/- is to be recovered by the undersigned from the defaulter. A copy of said order of Employees Provident Fund Organization is annexed hereto and marked as Annexure D . The Official Liquidator has received summons da .....

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F . The Employees Provident Fund Organization has again sent Adjournment Notice dated 04.10.2017 to the office of the Official Liquidator. A copy of said Adjournment Notice dated 04.10.2017 of Employees Provident Fund Organization is annexed hereto and marked as Annexure G . The Official Liquidator vide letter dated 03.11.2017 sent reply to Employees Provident Fund Organization. A copy of letter dated 03.11.2017 of Official Liquidator is annexed hereto and marked as Annexure H . However, the Off .....

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jection, if any, by the persons, creditors, parties etc. have for dissolution of the above named company. In response to the aforesaid publication, the Office of the Official Liquidator has not received any objections from any of the interested parties within stipulated time as given in the advertisement in the newspaper. A copy of the advertisement published in the newspaper is annexed herewith and marked as Annexure I . 13. That, the Official Liquidator further most respectfully submits that, .....

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dation). A copy of Chartered Accountant Report is annexed herewith as Annexure J . This fulfills the requirement of Rule 281 of Companies Court Rules, 1959. In addition to the above, the said Chartered Accountant has also verified the record of the Registrar of Companies record in this regard. 18. That, the Official Liquidator most humbly respectfully submits that during the process, prior intimation letters for dissolution of the subject company were sent to the Registrar of Companies, Gujarat, .....

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r the report of the Chartered Accountant annexed with the present report at Annexure J , the company has no balance in cash, in bank and in FDR and there are no assets left with the company. She submitted that as stated in the report, the dues of the secured creditors and workers were paid from the available balance in company s account and now, since there is no fund in the company s account, the Official Liquidator is not to take any further action pursuant to winding up of the company and, th .....

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ed by the Hon ble Supreme Court in the case of E.P.F. Commissioner Vs. O.L. of Esskay Pharmaceuticals Ltd in Civil Appeal No.9630 of 2011 giving priority to the provident fund dues and now in absence of fund available in the company s account no recovery towards the provident fund will be possible and, therefore, it will be for the concerned authorities under the Employees Provident Fund Act to proceed against Ex-Directors in accordance with law. [4] The Court, having heard learned advocate Ms.C .....

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