Allowed

Sundaram Industries private LimitedHTSC No.044 v. The Chairman

Madras HC13 Mar 2019WP/246/2019

Case brief

AI extract

What is this about?

Application filed by the Official Liquidator seeking dissolution of M/s. Ultima Dental Lab Private Limited (in Voluntary Liquidation). Court allowed dissolution after verifying compliance with statutory requirements under Section 497(6) of the Companies Act, 1956.

What did the court decide?

Report under Section 497(6) taken on record; Company ordered dissolved; Official Liquidator directed to take incidental/consequential actions.

Sundaram Industries private LimitedHTSC No.044 Vs The… — Company and Corporate | Madras HC (2019)

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IN THE HIGH COURT OF JUDICATURE AT MADRAS

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(ORIGINAL JURISDICTION)

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THE HON'BLE MR.JUSTICE SENTHILKUMAR RAMAMOORTHY

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COM.A.NO.246 OF 2019

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In the matter of the Companies Act, 1956 and

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In the matter of M/s. ULTIMA DENTAL LAB PRIVATE LIMITED (under Members Voluntary Liquidation)

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Comp.A.No.246 of 2019 :

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The Official Liquidator,

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High Court, Madras ...Applicant

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This Company Application praying that this Honble Court be

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pleased to take on record this report of the Official Liquidator

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filed under Section 497(6) of the Act, 1956 in the above matter

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and pass an order to dissolve M/s. Ultima Dental Lab Private Limited(in Voluntary Liquidation)

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This Company Application coming on this day before this

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Court for hearing in the presence of M/s. Bavi Setty Sridhar Deputy Official Liquidator for the applicant herein, and upon reading the Judges summons and report of the Official Liquidator filed herein, the Court made the following order:

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“.This Application is filed under Section 497(6) of the Companies Act,1956 to take on record this report of the Official Liquidator filed under Section 497(6) of the Companies Act,1996 and to pass orders to dissolve M/s.Ultima Dental Lab Private Limited(in Voluntary Liquidation).

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2.I heard the Deputy Official Liquidator. 3.In support of the said application, a report

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dated 16.04.2019 of the Official Liquidator and a

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further report dated 24.09.2019 were filed. In the said report, the Official Liquidator has narrated the events relating to the voluntary liquidation of

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M/s.Ultima Dental Lab Private Limited. In specific, the following material events are detailed:

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(i)it is stated that the resolution for voluntary winding up was passed by the board at a meeting held on 22.01.2014;

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(ii)the declaration of solvency dated 22.01.2014 was filed with the Registrar of Companies;

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(iii)the members of the Company at a general

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meeting held on 25.02.2014 approved the proposal

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for voluntary winding up and appointed the

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Voluntary Liquidator;

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(iv)the said resolution was also duly filed with the ROC;

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(v)necessary publications were made in the Gazette

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and in two news papers; and

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(vi)the Voluntary Liquidator held the final meeting on 16.04.2018.

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4.After taking into account the creditors and

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debtors, and making necessary payments, it is

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stated that the Voluntary Liquidator paid a sum of

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Rs.2,22,54,412/- to the shareholders towards return of capital. Thereafter, the Voluntary Liquidator

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has filed the returns with the final statement of accounts with the ROC on 20.04.2018. Pursuant thereto, the ROC has also communicated the no

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objection(NOC) by letter dated 11.10.2018 and the

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Income Tax Department had also earlier issued NOC

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by letter dated 29.01.2018.

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5.The Official Liquidator further reports that the

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scrutiny of the books of accounts and records of

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the company in liquidation did not reveal any

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instances which would lead to a conclusion that the affairs of the company were being conducted against the interest of its members or public interest.

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Therefore, he request that orders be passed as prayed for.

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6.Upon consideration of the submissions of the

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Deputy Official Liquidator and on perusal of the

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report dated 16.04.2019 and the further report dated 24.09.2019 and after examining the documents

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annexed thereto, I am of the view that all

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applicable provisions of the Companies Act, 1956,

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were complied with and, therefore, it is just and

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necessary to pass orders as prayed for in this

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application. Therefore, this application is

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disposed of with the following directions:

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(i)The report of the Official Liquidator under

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Section 497(6) of the Companies Act,1956 is taken

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on record and M/s.Ultima Dental Lab Private

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Limited(in Voluntary Liquidation) is ordered to be

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dissolved; and

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(ii)The Official Liquidator is further directed to

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take all incidental or consequential actions in

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this regard.”

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WITNESS, THE HON'BLE DR.JUSTICE VINEET KOTHARI, ACTING

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CHIEF JUSTICE OF MADRAS HIGH COURT, AS AFORESAID THIS THE 18TH

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DAY OF OCTOBER 2019.

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//Certified to be true copy// Dated at Madras this the day of 2020.

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COURT OFFICER(O.S.)

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From 25th Day of September 2008 the Registry is issuing certified copies of the Orders/Judgments/Decrees in this format.

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R.s/07.02.2020

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COMP.A.NO.246 OF 2019

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ORDER DATED:18.10.2019

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THE HON'BLE MR.JUSTICE

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SENTHILKUMAR RAMAMOORTHY

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FOR APPROVAL ON: 18.03.2020

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APPROVED ON:31/07/2020

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Copy to:

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The Official Liquidator, High Court, Madras.

Sundaram Industries private LimitedHTSC No.044 v. The Chairman

Case brief

What is this about?

What did the court decide?

Sundaram Industries private LimitedHTSC No.044 v. The Chairman

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

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Case details

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