Disposed

Official Liquidator v. Nil

Karnataka HC4 Feb 2021OLR/9/2020

Case brief

AI extract

What is this about?

The Official Liquidator filed an O.L.R. under Section 497(6) of the Companies Act, 1956, seeking dissolution of M/s. Sujika Technologies Private Limited following its voluntary winding up. The Court reviewed the liquidator's report, finding no prejudicial conduct and compliance with statutory requirements, and passed an order dissolving the company.

What did the court decide?

The company M/s. Sujika Technologies Private Limited is dissolved with effect from 19.10.2020.

Official Liquidator Vs Nil — Insolvency and Bankruptcy | Karnataka HC (2021)

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IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 4^TH DAY OF FEBRUARY, 2021

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BEFORE

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

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O.L.R. NO.9/2020

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BETWEEN:

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OFFICIAL LIQUIDATOR, ATTACHED TO THE HON’BLE HIGH COURT OF KARNATAKA CORPORATE BHAVAN, NO.26-27, 12^TH FLOOR, M.G. ROAD, BENGALURU – 560 001.

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… APPLICANT

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(BY SRI. JAGADEESHGOUD PATIL, ADVOCATE FOR OL)

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AND:

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NIL … RESPONDENT

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THIS O.L.R. IS FILED THE REPORT UNDER SECTION 497(6) OF THE COMPANIES ACT, 1956, PRAYING TO DISSOLVE M/S. SUJIKA TECHNOLOGIES PRIVATE LIMITED (IN MEMBER'S VOLUNTARY WINDING UP) HAVING CIN NO.U31909KA2006PTC038711, UNDER SECTION 497(6) OF THE ACT, FROM THE DATE OF SUBMISSION OF THIS REPORT AND ETC.

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THIS O.L.R. COMING ON FOR ORDERS THIS DAY, THE COURT MADE THE FOLLOWING:

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ORDER

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The Official Liquidator has sought for an order to dissolve M/s. Sujika Technologies Private Limited, having CIN No.U31909KA2006PTC038711, under Section 497(6) of the Companies Act from the date of submission of this report.

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It is submitted that as per the minutes of the Extra Ordinary General Meeting conducted on 22.03.2017, it was resolved to wind up the company voluntarily and Sri. Ajith A. Shetty, was appointed as a voluntary liquidator of the company. Necessary publication of public notice has been made in terms of Section 485(1) of the Act in the newspapers. The Final General Meeting was called for on 23.07.2018 for laying of accounts as per the procedure. The details of the statutory forms filed are set out in paragraph

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6 of the Report. It is also submitted that Form-156 provides necessary details relating to the process of winding up made by the voluntary liquidator and also as regards to the

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disbursal of the property and Form-157 has been filed with the Registrar of Companies on 11.02.2020.

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It is further submitted that during the process of

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winding up, a sum of Rs.2,41,76,544/- was realized. Form156 has been filed by the voluntary liquidator containing the statement relating to the process of winding up.

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Insofar as the correspondence to the Income Tax Department as regards any tax arrears, it is submitted that department has corresponded by way of a reply dated 01.11.2020 stating that there were no dues. An indemnity bond has been executed by the voluntary liquidator undertaking to indemnify the lawful claims of any other persons, if such claims are lodged even after dissolution of the company. It is further submitted that the affairs of the company have been conducted in a manner not prejudicial to the interest of the members/creditors or public interest.

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After having noted in detail the report of Official Liquidator that the affairs of the Company have not been

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4 -

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conducted in a manner prejudicial to the interest of its members or public, and noting the paper publication that has been carried out pursuant to the requirement under Section 485(1) of the Companies Act, it is a fit case to accept the report of the Official Liquidator.

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Accordingly, it is directed that M/s. Sujika Technologies Private Limited, is hereby dissolved with effect from 19.10.2020 which is the date of submission of the report to the Court. A copy of this order be filed with the Registrar of Companies.

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Accordingly, OLR 9/2020 is disposed off .

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Sd/JUDGE

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Official Liquidator v. Nil

Case brief

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What did the court decide?

Official Liquidator v. Nil

Case brief

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