Allowed

Official Liquidator of v. Nil

Karnataka HC25 Mar 2021CA/120/2021

Case brief

AI extract

What is this about?

The High Court of Karnataka disposed of an application filed by the Official Liquidator to dissolve the company under Section 481 of the Companies Act, 1956. The court noted that assets were realized, liabilities discharged, and no objections were received upon publication. Consequently, the company was ordered to stand dissolved.

What did the court decide?

The company M/s. Nanjappa's Print and Packs Private Limited stands dissolved subject to compliance of office objections; necessary order to be filed with the Registrar of Companies.

Official Liquidator of Vs Nil — Company and Corporate | Karnataka HC (2021)

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IN THE HIGH COURT OF KARNATAKA AT BENGALURU

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DATED THIS THE 25^TH DAY OF MARCH, 2021

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BEFORE

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THE HON'BLE MR. JUSTICE S. SUNIL DUTT YADAV

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COMPANY APPLICATION NO.120/2021 IN COMPANY PETITION NO.120/1993

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BETWEEN:

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Official Liquidator of M/s.Nanjappa’s Print and Packs(Private) Limited (In liquidation) Attached to High Court of Karnataka, Corporate Bhavan, Nos.26-27, 12^th Floor, Raheja Towers, M.G.Road, Bengaluru-560001.

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… Petitioner (By Smt.Krutika Raghavan, Advocate)

AND:

NIL

...Respondent

This Company Application is filed under Section 481 of the Companies Act, 1956 read with Rule 9 of the Companies (Court) Rules, 1959, praying to direct that M/s.Nanjappa’s Print and Packs Private Limited shall stands dissolved under Section 481(1) of the Companies Act, 1956 subject to Section 559(1) of the Companies Act, 1956 and etc.,

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This Company Application coming on for Orders, this day, the Court made the following:

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O R D E R

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The application for dissolution of the Company under Section 481 of the Companies Act, 1956 has been filed.

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It is submitted that company was ordered to

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be wound up as per the order dated 04.08.1995 in COP.No.120/1993.

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It is further submitted that the statement of

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affairs have been filed by the former Directors of the Company and application under Section 543(1) of the Companies Act as regards misfeasance, misapplication initiated has been dismissed.

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It is further submitted that KSFC has sold the land & building, plant & machineries of the company in association with the official liquidator for a sum of Rs.45,80,000/as per the order passed in CA No.381/2006 dated 15.06.2006.

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It is submitted that the official liquidator has not invited claims from the creditors due to nonavailability of funds. Attention is drawn to the communication at Annexure-H addressed by the former Directors of the Company wherein it is submitted that 13 workers dues have been settled.

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Accordingly, it is submitted that the fund of the company recovered by way of sale of assets has been appropriated by M/s.KSFC and dues to other workmen has also been satisfied as per the communication at Annexure-H.

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It is also to be noticed that official liquidator has filed a memo on 16.03.2021 pointing out that the public notice was carried out by way of paper publication on 20.02.2021 inviting objections if any, from contributories, creditors, workmen and other persons interested if they have any reason to be aggrieved by the order of dissolution. Despite such publication, no objections have been received.

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Said aspect is also taken note of.

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9. It is submitted that the official liquidator has

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taken all necessary steps to wind up affairs of the company in liquidation and has realized the available assets and discharged liabilities from amongst the fund available in the order of the priority as per statement of claims. Subject to the right conferred under Section 559(1) of the Companies Act, taking note of the contents of the application M/s.NANJAPPA’S PRINT AND PACKS PRIVATE LIMITED would stand dissolved.

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Necessary order to be filed with the Registrar of Companies in accordance with the Companies Court Rules.

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Accordingly, CA No.120/2021 is disposed off.

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Necessary compliance of the office objections

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raised to be carried out.

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Sd/JUDGE

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Official Liquidator of v. Nil

Case brief

What is this about?

What did the court decide?

Official Liquidator of v. Nil

Case brief

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