Disposed

Orissa S.Electronics v. Govt. of Orissa

Orissa HC12 Apr 2019COPET/12/2007

Case brief

AI extract

What is this about?

The Company Judge disposed of the winding up petition after the Official Liquidator reported that no order for winding up was necessary after 12 years of notice and non-filing of statutory returns since 2005, granting liberty to reapproach if a cause of action survives.

What did the court decide?

The Company Act Petition stands disposed of; liberty is granted to the petitioner to approach the appropriate forum if any cause of action still survives.

Orissa S.Electronics Vs Govt. of Orissa — Insolvency and Bankruptcy | Orissa HC (2019)

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COPET No. 12 of 2007

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9 12.04.2019 Heard Mr. B. Dash, learned counsel for the petitioner.

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In compliance of order dated 14.12.2018, the Official Liquidator has furnished a report on 05.04.2019 wherein he has narrated the entire gamut of the facts of the case in paragraphs 2 to 5 to the following effect:-

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1. That Orissa State Electronics Development Corporation Limited is a State Government Company incorporated in the State of Odisha under the Companies Act, 1956 on 29.09.1981 with Authorized Capital of Rs.23,00,00,000/- (Rupees Twenty threeCrore) having its Registered Office situated at Shed No.201 & 202, Sector-A, Zone-B, Mancheswar Industrial Estate, Bhubaneswar, Odisha-751010 being Corporate Identity No.U74140OR1981SGC000986.

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2. That on verification of MCA portal of Registrar of Companies, Odisha it is seen that the Company is a State Government Company and has not filed its statutory returns such as Annual Return and Balance Sheet in the Office of Registrar of Companies, Odisha since 2005 to till date.

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3. That further it is noticed from the copy of the petition that the petitioner company has passed Resolution for winding up of the company on 25.01.2006. The directors of the company are still liable to file the statutory returns including financial statement as on date as winding up order has not been passed and they have not been discharged from the directorship.

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4. That further it is noticed from the copy of the petition that the petitioner company has passed Resolution for winding up of the Company on 25.01.2006 and hence it is the duty o the petitioner being the company to prove before the Hon’ble Court with supporting documentary evidence including up dated audited Balance Sheet.

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In view of such report received from the Official Liquidator, there is no question of passing any order for winding up at this stage, more particularly after lapse of 12 years.

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Mr. B.Dash, learned counsel for the petitioner has also stated that he has not been posted with the up to date instruction.

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In view of the above, the Company Act Petition stands disposed of.

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However, if any cause of action still survives, liberty is granted to the petitioner to approach the appropriate forum.

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……………………..……

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Dr. B.R. Sarangi, Company Judge

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Alok

Orissa S.Electronics v. Govt. of Orissa

Case brief

What is this about?

What did the court decide?

Orissa S.Electronics v. Govt. of Orissa

Case brief

What is this about?

What did the court decide?

What the court decided

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Statutes considered

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