Disposed

M/S Nacro Chemical P Ltd. Vs

Patna HC21 Dec 2023COMP PET/11/1996

Case brief

AI extract

What is this about?

On an oral order in a company petition, the Patna High Court examined the official liquidator's report on liquidation and final accounts. The court approved the auditor's certificate, ordered dissolution of the company, and directed that the liquidator's custody of company books and papers shall expire after five years.

What did the court decide?

Company to be dissolved; auditor fee and contingent expenses paid; custody of books and papers by liquidator to expire after 5 years.

M/S Nacro Chemical P Ltd. Vs — Company and Corporate | Patna HC (2023)

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IN THE HIGH COURT OF JUDICATURE AT PATNA COMPANY PETITION No.11 of 1996

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======================================================

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M/S NACRO CHEMICAL P LTD. (In liquidation)

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=============== Appearance : For the Petitioner/s For the Respondent/s ===============	==== : : ====	=================================== Mr. Official Liquidator. Mr. ===================================
CORAM: HONOU	RABL	E MR. JUSTICE DR. ANSHUMAN ORAL ORDER

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87 21-12-2023

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Item (I) :- O.L.R. No. 62 of 2023

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The official liquidator has submitted his report under Section 481 of the Companies Act, 1956. A panel auditor has conducted auditing of half yearly statement of accounts for the period of 01.10.2011 to 31.03.2023 as well as audit of final account from 01.04.2023 to 26.09.2023. The certificate of auditor is hereby approved.

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As per report, the affairs of the company have been completely wound up and the secured creditors shall be paid up amount as directed and as per the available funds after payment of said recurring expenses and 2^nd dividend, the balance amount of Rs. 35,301.41/- remain available to the credit of the company, which shall utilized for payment of auditor fee and contigents expenses in terms of Section 481 of the Companies Act.,1956.

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Therefore, this company is directed to be dissolved and the audit fee may be paid along with contingents expenses.

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Accordingly, this company petition stands disposed

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Patna High Court COM PET No.11 of 1996(87) dt.21-12-2023 2/2

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of and consigned to record.

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The official liquidator has raised provision of Section 520(2) of the Companies Act, 1956 that after expiry of 5 years from the date of dissolution of the company, no responsibility shall be rest on the company, the liquidator or any other persons to whom the custody of books and papers have been permitted by reason of any book or paper not being coming to any person claiming to be interested therein.

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In this view of the matter, it is directed that responsibility of the liquidator to keep the custody of books and papers shall expired after 5 years from today.

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(Dr. Anshuman, J.)

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Prakashmani/-

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M/S Nacro Chemical P Ltd. Vs

Case brief

What is this about?

What did the court decide?

M/S Nacro Chemical P Ltd. Vs

Case brief

What is this about?

What did the court decide?

What the court decided

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