TMI Blog2021 (6) TMI 177X X X X Extracts X X X X X X X X Extracts X X X X ..... interfering with the decision of the Division Bench on the ground put forward by learned Senior Counsel of benefit to the workers, the report deserves to be accepted. The Company, named, M/s. Mangal Rasayan Limited (In Liqn.) is hereby dissolved under Section 481 of the Act and the Official Liquidator attached to this Court stands discharged and is relieved as liquidator of M/s. Mangal Rasayan Limited (In Liqn.). The official liquidator is also permitted to transfer the available amount in the company s account as on date to the Common Pool Account maintained by the office of the Official Liquidator. Report is allowed. - R/Official Liqudator Report No. 65 of 2020, In R/Company Petition No. 130 of 2001 - - - Dated:- 29-1-2021 - Ho ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... any. Records indicate that that following is the Secured creditors of the company: (1) Small Industrial Development Bank of India, Navjivan Amrit Jayanti Bhavan, I II Floor, Post Bag No. 10, Navjivan P.O. Ahmedabad 380 014. (2) Gujarat State Financial Corporation, Block No. 10, Udyog Bhavan, Sector-11, Gandhinagar 382 011 (3) Asset Reconstruction Company (India) Limited. (ARCIL), The Ruby, 10th Floor, 29, Senapati Bapat Marg, Dadar (West), Mumbai 400 028. It appears that the company was having its assets situated at the following place. Sr. No Property situated at 1. Survey No. 613/1, 2B 3, Chhatral Tal. Kalol 2. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uated at Plot No. 626, Vatva for a sake consideration of ₹ 1,60,00,000/-. The SIDBI had appropriated the entire sale proceeds of the Vatva property situated at Plot No. 626, Vatva towards dues of the SIDBI and paid an amount of ₹ 2,40,900/- towards the Central Government Fees under Rule 291 of the Companies (Court) Rules, 1959 with the Official Liquidator vide letter dated 01.04.2010 in terms of order dated 08.03.2010 passed by this Hon ble Court in Company Application Nol. 504 of 2009 and the Official Liquidator had disbursed an amount of ₹ 5,67,357/- to Bank of Baroda in terms of order dated 21.06.2013 passed by this Hon ble Court in Company Application No. 96 of 2012. The Official Liquidator had also disbursed an amo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the case of Meghal Homes Pvt. Ltd. Vs. Shree Niwas Girni K.K. Samiti, reported in (2007) 7 SCC 753, it is contended by the Official Liquidator that this Court may pass appropriate order of dissolution of the Company in liquidation. 7. It is also stated by the Official Liquidator that prior to dissolution of the company, the Official Liquidator vide letter dated 31.01.2020 addressed to the Ex-Directors and secured creditor of the company informed that the Official Liquidator proposes to dissolve the said company and if they are having any objection the same be informed to the Official Liquidator within 10 days from the receipt of the letter. Official Liquidator is not received any response from either the Ex-Directors or the Secured Credi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n may be passed as prayed for. 9. Having heard the learned advocate for the Official Liquidator and on perusal of the record of this report and in facts of this case and considering the ratio laid down by the Hon'ble Apex Court in the case of Meghal Homes Pvt. Ltd. (supra), the report deserves to be accepted. The Company, named, M/s. Mangal Rasayan Limited (In Liqn.) is hereby dissolved under Section 481 of the Act and the Official Liquidator attached to this Court stands discharged and is relieved as liquidator of M/s. Mangal Rasayan Limited (In Liqn.). The official liquidator is also permitted to transfer the available amount in the company s account as on date to the Common Pool Account maintained by the office of the Official Liq ..... X X X X Extracts X X X X X X X X Extracts X X X X
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