1. Through this report, the Official Liquidator has requested for order of dissolution of the Company from the date of submission of the report or such other order as may be considered appropriate.
2. From the report, it emerges that the company was constituted for to acquire take over promote, establish and carry on all or any of the business of seed crushers and manufactures of linseed, cotton and other cakes oil exrractors by crushing, chemical or any other processes, cake and oil manufactures, oil refiners, soap boilers, manufactures of floor cloths and floor coverings of every description, makers and manufactures of cattle food and feeding and fattening preparations of every description, makers and manufactures of artificial manures and fertilizers, seed merchants, flax and cotton merchants, bakers, biscuit makers, hay, straw and fodder merchants, nurserymen, ship owners, light men, carries by sea and land, dock owners, wharfingers, varnish makers, candle makers and stearin and sachharine manufactures. Members of the company adopted a resolution for voluntary winding up of the company at which point of time following shareholders were there in the company:-
Sr.No.
Name of Shareholders Equity Shares
1. Mr.J.B.
Roongta 533
2. Mr.A.K.
Roongta 5
3. Mrs.C.A.
Roongta 15
4. M/s.A.J.
Private Limited 10
5. M/s.Roongta Cine Corporation Private Limited 922
6. M/s.Pushpa Sons Private Limited 515 Total 2,000 The company had following Directors:-
Sr.No.
Name of Director
1. Mr.J.B.
Roongta
2. Mr.A.K.
Roongta
3. The Directors have filed a declaration of solvency with the Registrar of Companies. General meeting of the company was held on 11.03.2002 adopting the resolution for voluntary winding up of the company. Notice to this effect for appointment of Voluntary Liquidator was given to the Registrar of Companies. Necessary Notification of the Extraordinary General Meeting was also published in two local newspapers on 27.03.2002 and the same was published in Government Gazette on 11.04.2002. Excess assets of the company have already been distributed amongst the shareholders in the following manner:-
Assets:-
Estimated Assets Amount to be realized (Rs.) Value Realized (Rs.) Cash at Bank 3,836/-
Cash at hand 1,229/-
Loans and Advances 5,40,000/-
Total (Rs.) 5,45,065/-
Liabilities:-
Liquidator Remuneration 20,000/-
Cost of Notices in Newspaper and Gazette 7,600/-
Corporate Dividend Tax 47,465/-
Dividend to contributors 2,70,000/-
Total 3,45,065/-
Surplus (Rs.) 2,00,000/-
The surplus assets of the company have also been distributed amongst the members of the company.
4. It is further stated that the Voluntary Liquidator has not received any complaint against the notices for voluntary winding up and the resolution of the company published in the newspapers and the Official Gazette.
5. It is further stated that upon perusal of the Books of Accounts nothing objectionable has been noticed. No public interest elements have been involved. The Voluntary Liquidator of the company, however, has filed affidavit duly notarized on 23.12.2011 declaring that there are no outstanding dues to the Government Department or other authorities against the company and no prosecution is pending. They also have agreed to indemnify in case any dues are found in future against the company. The Registrar of Companies has also issued a letter of No Objection Certificate against such winding up.
6. From the details mentioned by O.L. in his report dated 23.12.2011, it transpires that all necessary formalities have been completed and it is found that there is no objection to winding up the company voluntarily, it is hereby directed that the company shall stand dissolved from the date of this order. The Voluntary Liquidator shall reserve the books of accounts of the Company for the period of 5 years from today. He shall also ensure that the Official Liquidator is paid cost of Rs.5,000/-. The Official Liquidator's Report is disposed of accordingly. Copy of this order shall be communicated to the Registrar of Companies.
(R.M.CHHAYA, J.) Hitesh Top