Allowed

Official Liquidator of Agrawal Polyfil Private Limited. (in Liquidation) v. SBI Global Factors Ltd.(Earlier Known as Global Trade Finance Ltd.) (Petitioner)

Bombay HC27 Feb 2026OLR/95/2026

Case brief

AI extract

What is this about?

Permanent dissolution of a company in liquidation with no recoverable assets; Official Liquidator's Report allowed under the Companies Act 1956; audit compliance under Rule 302 of the Companies (Court) Rules, 1959; dispensation with final-dissolution compliances; no claims received against newspaper invitation. Parties: Agrawal Polyfil Private Limited (in Liquidation); SBI Global Factors Ltd. (for

What did the court decide?

Permanent dissolution of Agrawal Polyfil Private Limited (in Liquidation) with consequential dispensation with the compliances otherwise required during final dissolution; Official Liquidator's Report

Official Liquidator of Agrawal Polyfil Private Limited… — Company and Corporate | Bombay HC (2026)

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Digitally signed by MEERA MEERA MAHESH MAHESH JADHAV JADHAV Date: 2026.04.27 19:06:26 +0530

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14-OLR-95-2026.DOC

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION OFFICIAL LIQUIDATOR REPORT NO. 95 OF 2026

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In the matter of the Companies Act I of 1956

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And

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In the matter of Agrawal Polyfil Private Limited. (in Liquidation)

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Sbi Global Factors Ltd.(earlier Known As Global Trade Finance Ltd.)

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...Petitioner

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Ms. Akanksha Agrawal, for the Official Liquidator (Through VC).

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Mr. Satyajit Roul, Official Liquidator present. Mr. J. P. Gautam, Dy. Official Liquidator present.

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Ms Amruta Kundap i/b Mr. Bubna for Respondent.

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CORAM : ARIF S. DOCTOR, J. DATE : 24th APRIL 2026

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P.C.

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The captioned Official Liquidator’s Report is for permanent dissolution of the company in liquidation. Ms. Agrawal, learned counsel for the Official Liquidator points out that the company in liquidation does not have any recoverable assets. She seeks dissolution of the company in question and consequential dispensation with the compliances which would otherwise be required during the course of final dissolution of company in liquidation.

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For the convenience of the Court, the Official Liquidator has prepared a

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list setting out (i) the date on which the winding-up order was passed; (ii) the

Meera Jadhav

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14-OLR-95-2026.DOC

funds available; and (iii) the status of the claim of the company. The details are as follows:

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Date of Winding Up	Funds available	Claims
In CP No.	(In Rs.)
11/06/2012	4,15,300	Claims were invited via
in CP No. 435 of 2010		newspaper publication with last
and CP No. 10 of 2011		date as 28/07/2023. No claims
		were received (para 9-10)

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By an Order dated 27th February 2026, this Court granted prayer (a) of the Report. Prayer (a) is reproduced as follows –

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“ a) In view of para (13) of this report, whether this Hon'ble Court may be pleased to audit of Half Yearly Accounts and Final Account by the panel Chartered Accountant of the Official Liquidator as required under Rule 302 of the Companies (Court) Rules, 1959 and permit the Official Liquidator to pay the panel Chartered Accountant necessary fee in connection with such audit and after filing of Audit Certificate with the Company Registrar of the Hon'ble Court and after such filing the Company Registrar to take such certificate on records;”

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Learned Counsel for the Official Liquidator submits that the same has been complied with. The Chartered Accountant has prepared half yearly account statement for the period of 01.04.2024 to 30.09.2025 and prepared final account statement for 01.10.2025 to 06.02.2026.

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Learned counsel for the Official Liquidator has also placed reliance upon various decisions which support the directions which are today sought for, useful reference can be placed upon the decision of this Court in the case of Goan Riviera Resorts Private Limited through the Official Liquidator1 , Meghal

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1 (2024) SCC Online Bom 751

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Homes (P) Ltd. Vs. Shree Niwas Gimi K. K. Samiti2 , Delfin Expo Mart Vs. Royal Regency Fashions Pvt. Ltd.3 , Re-Vikas Motors Pvt. Ltd.4 , Indiana Spices and Foods Industries Ltd.5 and Lalaji Paper Mills Pvt. Ltd6.

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In each of the aforesaid decisions, the Court proceeded to allow dissolution of the company in liquidation since there was a lack of sufficient or substantial funds or assets, and no useful purpose would be served by keeping the process of winding-up or liquidation alive.

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Having heard learned counsel and having perused the judgments upon which reliance is placed, I am satisfied that a case has been made out for allowing the aforesaid Official Liquidator’s Report.

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