This order condones a delay of approximately two years and five months for filing annual liquidation statements for three years and approves the submitted statements upon receipt of no audit objections.
Condonation of delay and approval of annual liquidation statements for the specified years.
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The Hon'ble Sri Justice C.V.Nagarjuna Reddy Company Application No.1391 of 2011 in RCC.No.12 of 2000
Date:18.06.2014
Order:
This Company Application is filed for condonation of delay of two years five months and fifteen days in filing annual statements for the years ending 21-01-2006, 21-012007 and 21-01-2008 in respect of M/s.Shiv Shakthi Refineries (P) Ltd., (In Liquidation) and to consider and approve the annual statements of the said Company for the aforesaid three years.
Heard Sri M.Anil Kumar, learned Counsel for the Official Liquidator.
Having regard to the reasons mentioned in the affidavit filed in support of this application, the delay in filing the annual statements is condoned.
Upon perusing the annual statements filed by the Official Liquidator in respect of the Company in Liquidation under Section 551 of the Companies Act, 1956 r/w Rules 311 and 19 of the Companies (Court) Rules, 1959, and the Auditor’s Certificate regarding the same, and having regard to the fact that no audit objections have been received, the annual statements of the Company in Liquidation for the aforementioned periods are hereby approved.
The Company Application is, accordingly, allowed. No costs.
______________________
(C.V.Nagarjuna Reddy, J)
18th June, 2014 LUR
2 issues framed by the court
Whether condonation of delay for filing annual liquidation statements is permissible under the circumstances.
Whether annual statements filed by the Official Liquidator are approvable on merit.
3 provisions across 2 enactments
Official Liquidator
M/s. Shiv Shakthi Refineries (P) Ltd.
C.V.Nagarjuna Reddy
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
