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In Re : Official Liquidator of Geeta fabrics pvt. Ltd. (In Liquidation)

2018 (2) TMI 335 - GUJARAT HIGH COURT

Dissolution of the company in liquidation under section 481 - Held that:- There are no assets and properties of the company in liquidation and only ₹ 12,801/- is in the balance of the company’s account, the Official Liquidator shall not be required to do any further act for winding up of the company and therefore the company could be dissolved and the Official Liquidator could be discharged and relieved of his duty to function as liquidator of company in liquidation. - In view of the a .....

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s within a period of 15 days from today - Official Liqudator Report No. 15 of 2018 - Dated:- 2-2-2018 - MR. C. L. SONI, J. For The Applicant : MR PATHIK M ACHARYA, ADVOCATE, OFFICIAL LIQUIDATOR ORAL ORDER 1. The present report is filed seeking dissolution of the company in liquidation under section 481 of the Companies Act, 1956 ( the Act ) and to permit the Official Liquidator to pay professional fee bill of ₹ 1,500/- to the Charted Accountant and also to permit him to transfer rest of th .....

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; 18,25,000/-. On receiving full sale consideration, the possession of the movables including plant & machineries, furniture and fixtures of the company has been handed over to the purchaser Shri J.K. Waghela on 31.12.2003. The possession of land has been handed over to original owner of the land namely M/s. Gita Timber Mart, Ahmedabad on 29.01.2009 in terms of order dated 23.10.2008 passed by the Hon ble High Court of Gujarat in Company Application No.384 of 2008. A copy of order dated 23.1 .....

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cation No.218 of 2004. A copy of order dated 25.10.2004 passed in Company Application No.218 of 2004 is annexed hereto and marked as Annexure B . 8) That, the Official Liquidator most respectfully further submits that the Ex. Director of the company in liquidation has filed Statement of Affairs under Section 454(5) of the Companies Act, 1957 to the office of the Official Liquidator. As per Statement of Affairs, List : B, ASSETS SPECIFICALLY PLEDGED AND CREDITORS FULLY OR PARTLY SECURED shown onl .....

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ator is of the opinion that it is, therefore just and proper case to dissolve the aforesaid Company in the interest of justice as well as in the interest of shareholders of Company in Liquidation. After making provisions for payment of ₹ 1,500/- to Chartered Accountant and rest of fund of ₹ 11,301/- is required to be transferred to Company Paid Staff Salary Reserve Fund Account for Central Government Fees under Rule 291 of the Companies (Court) Rules, 1959 and other liquidation expen .....

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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. 16) That, Official Liquidator most humbly submits that during the process, prior intimation letters for dissolution of the subject company were sent to the Registrar of Companies, Gujarat, Income-Tax Department, Secured Creditors, Petitioner Creditor and Ex-directors of the subject company regarding pr .....

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e High Court. 17) That, the Official Liquidator most respectfully submits that, in this Company (In Liqn.), now, nothing is required to be done further hereafter. That, the subject company may be dissolve under Section 481 of the Companies Act, 1956 in the interest of Justice as per Law. 3. Learned advocate Mr. Pathik M. Acharya for the Official Liquidator submitted that the company in liquidation is left with no assets and properties and as stated in report, the company has balance only of S .....

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