2024 (7) TMI 1321

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....nt company petition which was instituted under Sections 433, 434 and 439 of the Act, seeking winding up of the respondent/company (in liquidation) on the ground of non-payment of outstanding dues amounting to Rs. 3,69,253.50/- along with applicable interest. 3. Briefly stated, it is borne out from the record that the company (in liquidation) was directed to be wound up vide order of this Court dated 25.05.1992 and the Official Liquidator attached with this Court was appointed as its Liquidator, with the direction to take charge of the assets, records and books of accounts of the company. 4. As per the records of the Registrar of Companies, NCT of Delhi and Haryana, Shri. K.K. Bindal and Smt. Veena Bindal were shown to be the Directors of ....

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....asuring 3 Bigha, 3 Biswas and Khasra no.1880 measuring 2 Biswas) Upon an enquiry conducted it was found that the said property comprising of 2 blocks of 7 storied buildings belonged to M/s. Rohit Raj Potteries - a partnership firm of Sh. K.K. Bindal & Smt. Veena Bindal. However, it was mortgaged by the partnership firm m the capacity of guarantor in favour of erstwhile New Bank of India (merged with PNB in 1993) to secure a loan borrowed by the company. Thereafter, the same was sold under SARFAESI Act, 2002 through Public Auction on s "As is where is Basis" to M/s. Som Hari Infrastructure (P) Ltd. and after the confirmation of sale by DRT. 6. Besides the assets of the company (in liquidation) mentioned hereinabove, it is stated that a lan....

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....ompany for want of funds or for any other reason, the court can make an order dissolving the Company from the date of that order. This puts an end to the winding up process." 10. It would also be apposite to consider Section 481 of the Companies Act, 1956, which provides for dissolution of a company, the relevant portion of which has been reproduced hereinbelow: "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 shou....