9911796707
TMI Blog2024 (6) TMI 964X X X X Extracts X X X X X X X X Extracts X X X X ..... quidator under Section 481 of the Companies Act, 1956, seeking dissolution of the company (in liquidation) - M/s. Ravindra Dyechem Pvt. Ltd., and praying that the Official Liquidator be discharged as its Liquidator. 2. The company (in liquidation) was ordered to be wound up vide order of this Court dated 15.01.2002 and the Official Liquidator attached with this Court was appointed as its Liquidator, with the direction to take charge of the assets, record and books of accounts of the company. 3. As per the records maintained by the Registrar of Companies, NCT Delhi and Haryana, the following persons are shown as the Directors of the company (in liquidation): (i) Shri Vijay Narayan Saptarishi (ii) Shri Narayan K. Saptarishi 4. It is bo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... publication of advertisements, no claims were received by the Official Liquidator in respect of the company (in liquidation). 7. It is stated in the present application that the company (in liquidation) had two debtors, namely First Prints, from whom a sum or Rs. 43,171/- was due; and Colour Chem Ltd., who owed Rs. 3,42,255.51/-. As regards the first debtor mentioned hereinabove, the Official Liquidator could not move an application under Section 446 of the Companies Act, 1956 for the recovery of debt, as the Ex-Directors failed to provide any cogent supporting documents. Further, the amount stated to be due from the second debtor, Colour Chem Ltd., was the subject matter of certain Arbitration Proceedings in which an award came to be pass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hich provides for dissolution of a company under such circumstances as are prevailing in the present matter, and the relevant portion of the same reads as under: "Section 481. Dissolution of company. (1) When the affairs of a company have been completely wound up or when the Court is of the opinion that the liquidator cannot proceed with the winding up of a company for want of funds and assets or for any of the reason whatsoever and it is just and reasonable in the circumstances of the case that an order of dissolution of the company should be made, the Court shall make an order that the company be dissolved from the date of the order, and the company shall be dissolved accordingly." ....... 11. In view of the aforementioned decisi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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