JUDGMENT Sunil Ambwani, J.
1. Heard Shri Subodh Kumar, Additional standing counsel appearing for the petitioner. No one appears for the respondent-company.
2. The company petition has been advertised under Rule 24 of the Companies (Court) Rules, 1959 in newspapers 'Hindustan Times' (English) published from Lucknow and 'Dainik Jagran' (Hindi) published from Lucknow and in Official Gazette of U.P. on 25-12-2001, and 9-3-2002 respectively. Counlry Informtcch Services (P.) Ltd. (Respondent-company) was incorporated as a private limited company on 8-10-1998 under the Companies Act, 1956 ('the Act') having its registered office at 3rd Floor, Dham Nirman Complex, 15-A, Ashok N. Marg, Lucknow with object to set up, operate manage computer training centres, data processing etc. The respondent-company has not filed any balance shcel with the registered office and, thus, the financial position of the company could not be ascertained. In the annual return of the company made up to 29-9-1999, Shri Rakcsh Tandon, 28 Shastri Nagar, Lucknow and Shri Prabal Mall, 6 Devlok, 119, Vishnu Puri, Aliganj, Lucknow arc the directors of the company. It has not filed balance sheet for the period 1998-99, 1999-2000 and thus a prosecution has been initiated by the Registrar of Companies and is pending in the Court of Special Chief Judicial Magistrate, Lucknow. The respondent-company committed faults in making payment to various investors by Century Consultants Ltd. and that its directors are absconding. The investigation was handed over to CBI, Lucknow and that all available records were seized by C.B.I, on 13-4-2001 and 17-4-2001. There are serious allegations against directors of Century Consultants Ltd, to have cheated several thousands of investors, banks and financial institutions through forgery and corrupt/illegal means. C.B.I, recommended that action under the Companies Act for taking over possession of the assets of the company and appointment of custodian/receiver/ liquidator be taken by the department of company affairs. It is alleged that the banks and financial institutions have proposed to file cases before Debt Recovery Tribunal and the same arc likely to involve a recovery of amounts exceeding Rs. 10 lakhs and above in each case. The respondent-company, has been referred to against 25 companies wherein the direcors of Century Consultants Ltd./Cyber Space Ltd. or their employees arc involved. The details of these companies are given in the letter dated 23-8-2001. The Regional Director (N.R.), Department of Company Affairs, Kanpur issued show-cause notice to the respondent-company and its officers vide its letter No. LC/RD/under Section 433/2001/784 dated 27-8-2001, under Section 433(f) read with Section 439(e) of the Act, for winding up the company. The reply was found unsatisfactory and as such Regional Director, as above, in exercise of his powers delegated to him under Notification No. GSR 288 (E) dated 31-5-1991 and by virtue of 2nd proviso of Sub-section (5) of Section 439, conveyed sanction in favour of the registrar of companies for filing up winding up petition.
3. From the aforesaid facts, the investigation made by CBI and notices given by the Department of Company Affairs through Director (N.R.), the notices published to which no objection has been filed, and, upon hearing Shri Subodh Kumar for Registrar of Companies, U.P. & Uttaranchal, Kanpur, the petitioner, I am satisfied that respondent-company is liable to be wound up under Section 433(b), (c) and (f).
4. The company petition is, accordingly, allowed, and the respondent-company is directed to be wound up. The Official Liquidator, who was appointed as the provisional liquidator of the respondent-company vide order of this Court dated 24-11-2001, is appointed a liquidator of the company under Section 449.