Allowed

Official Liquidator of M/S. Hemavathi Coffee v. Nil

Karnataka HC14 Jul 2022CA/5/2022

Case brief

AI extract

What is this about?

The Official Liquidator applied for the dissolution of M/s. Hemavathi Coffee Curing Works Pvt. Ltd. under Section 481 of the Companies Act, 1956. The Court found all liquidation formalities completed with no pending claims and issued an order dissolving the company.

What did the court decide?

The company is directed to be dissolved under Section 488 (1) of the Companies Act, 1956; C.A. No. 121/1990 stands closed; and C.A. No. 5/2022 is allowed.

Official Liquidator of M/S. Hemavathi Coffee Vs… — Insolvency and Bankruptcy | Karnataka HC (2022)

¶1

¶2

CA No. 5 of 2022 IN COP NO.121 OF 1990

¶3

IN THE HIGH COURT OF KARNATAKA AT BENGALURU

¶4

DATED THIS THE 14TH DAY OF JULY, 2022

¶5

BEFORE

¶6

THE HON'BLE MR JUSTICE SURAJ GOVINDARAJ

¶7

COMPANY APPLICATION NO. 5 OF 2022

¶8

¶9

COMPANY PETITION NO.121 OF 1990

¶10

BETWEEN:

¶11

OFFICIAL LIQUIDATOR OF M/S. HEMAVATHI COFFEE CURING WORKS PVT. LTD. (IN LIQUIDATION) ATTACHED TO HIGH COURT OF KARNATAKA CORPORATE BHAVAN, NO 26-27, 12TH FLOOR RAHEJA TOWERS, M.G. ROAD BENGALURU - 560001

¶12

…APPLICANT

¶13

(BY SRI. JAGADEESH GOUD APTIL, ADV., FOR OFFICIAL LIQUIDATOR AND ALSO APPLICANT IN C.A.NO.5/2002)

¶14

AND:

¶15

NIL NIL

¶16

…RESPONDENT

¶17

Digitally signed by POORNIMA SHIVANNA Location: HIGH COURT OF KARNATAKA

¶18

(BY SRI. CHANRAKANTH R. GOULAY, ADVOCATE)

¶19

THIS COMPANY APPLICATION IS FILED UNDER SECTION 481 OF THE COMPANIES ACT, 1956 READ WITH RULE 9 OF THE COMPANIES (COURT) RULES, 1959 PRAYING THIS HON'BLE COURT TO DIRECT THAT M/S. HEMAVATHI COFFEE CURING WORKS PVT. LTD., SHALL STAND DISSOLVE UNDER SECTION 481(1) OF THE

¶20

¶21

CA No. 5 of 2022 IN COP NO.121 OF 1990

¶22

COMPANIES ACT, 1956 SUBJECT TO SECTION 559(1) OF THE COMPANIES ACT, 1956 AND ETC.,

¶23

THIS COMPANY APPLICATION COMING ON FOR ORDERS, THIS DAY, THE COURT MADE THE FOLLOWING:

¶24

ORDER

¶25

Memo dated 08.06.2022 is taken on record.

¶26

C.A.No.121/1990 has been filed for dissolution of the company in liquidation. The company in liquidation was wound up in COP.No.121/1990 vide order dated

¶27

19.06.1992 and the Official Liquidator was appointed. The Office Liquidator took possession of the properties and assets of the company and called for claims, claims were received, proceedings were initiated against the Ex-directors for non-filing the statement of affairs which came to be disposed of, upon receipt of the available books and records. Thereafter, miscellaneous proceedings were initiated which came to be dismissed.

¶28

¶29

CA No. 5 of 2022 IN COP NO.121 OF 1990

¶30

On receipt of the claims, OLR No.39/2019 had been filed seeking for declaration of the first and final dividend @ 0.823511 paise in a Rupee totaling to Rs.32,17,664/- to a secured claimants and 97 workmen, which has been paid subsequent to the orders passed by this Court on 13.09.2019. Thereafter, there have been no claims which has been received by the Official Liquidator and there are no amounts received by the Official Liquidator from any third party.

¶31

In view of the above, returns had been filed in terms of Section 462 of the Companies Act, 1956 which has been accepted from time to time and the fund position has been accepted.

¶32

Notice was taken out on 26.05.2022, in the news paper calling for objections, if any, to the dissolution. Though the said notice has been published, no objections have been received thereto.

¶33

¶34

CA No. 5 of 2022 IN COP NO.121 OF 1990

¶35

In view of the above, I am of the considered opinion that all the formalities which are required to be completed to dissolve the company are completed and as such, I pass the following:

¶36

::ORDER::

¶37

i. M/s. Hemavathi Coffee Curing Works Private Limited (Company In Liquidation ) is directed to be dissolved under Section 488 (1) of the Companies Act, 1956 subject however to Section 559(1) of the Companies Act, 1956.

¶38

ii. C.A.NO.121/1990 stands closed.

¶39

iii. C.A.No.5/2022 is allowed.

¶40

Sd/JUDGE

¶41

GJM

Official Liquidator of M/S. Hemavathi Coffee v. Nil

Case brief

What is this about?

What did the court decide?

Official Liquidator of M/S. Hemavathi Coffee v. Nil

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Sri. Sampangappa Vs State of Karnataka

Smt Nalina Bai Vs Bengaluru Development Authority

Sri L Prakash Vs the State of Karnataka

The Official Liquidator Vs Sr Venkat Ramana Kaluvakolanu Ex-Director

Mrs Dr Frederica Samuel Vs M/S S P Constructions

Soumyadeb Shaw Vs Tamron Astra Bio Chemicals Private Limited