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Official vs Sanant on 24 June, 2011

Gujarat High Court
Official vs Sanant on 24 June, 2011
Author: Anant S. Dave,
   Gujarat High Court Case Information System 

  
  
    

 
 
    	      
         
	    
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OLR/92/2011	 3/ 3	ORDER 
 

	

 

IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
 

 


 

OFFICIAL
LIQUDATOR REPORT No. 92 of 2011
 

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


 

OFFICIAL
LIQUIDATOR - Applicant(s)
 

Versus
 

SANANT
S SHAH - Respondent(s)
 

=================================================
 
Appearance : 
OFFICIAL
LIQUIDATOR for Applicant(s) : 1, 
None for Respondent(s) :
1, 
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CORAM
			: 
			
		
		 
			 

HONOURABLE
			MR.JUSTICE ANANT S. DAVE
		
	

 

 
 


 

Date
: 24/06/2011 

 

ORAL
ORDER

1.
Through this report, the Official Liquidator has requested for order
of dissolution of the Company from the date of submission of the
report or such other order as may be considered appropriate.

2.
From the report it emerges that the Company was constituted for
holding and investment etc. Members of
the company adopted a resolution for voluntary winding up of the
Company at which point of time following shareholders were there in
the Company:-

Sr.No.

Name
of Equity Shareholders

Equity
Shares

1.

Dr
Anand S Sarabhai & Mr. Suhrid S.Sarabhai

2921

2.

Mr.

Suhrid S.Sarabhai & Dr Anand S Sarabhai

1

Total

2922

The
Company had following Directors:-

Sr.No.

Name
of Directors

Addresses

1.

Mr.

Suhrid S Sarabhai

The
Retreat, Shahibag, Ahmedabad-380004 .

2.

Dr.

Anand S Sarabhai

The
Retreat, Shahibag, Ahmedabad-380004 .

3.

Mr.

H. N. Udani

37/6
Sharad Appartment, Deepkunj Society, Paldi, Ahmedabad.

3.
The Directors have filed a declaration of solvency dated 22.12.1997
with the Registrar of Companies. General meeting of the Company was
held on 05.01.1998 adopting the resolution for voluntary winding up
of the Company. Notice to this effect for appointment of Voluntary
Liquidator was given to the Registrar of Companies. Necessary
Notification of the Extraordinary General Meeting was also published
in two local newspapers on 08.01.1998 and the same was published in
Official Gazette on 15.01.1998. Excess assets of the Company have
already been distributed amongst the shareholders in the following
manner:-

Assets:-

Estimated
Assets

Amount
to be realized(Rs.)

Value
Realized(Rs.)

Balance
at Bank

525

524.50

Loans
and Advances

115647

115647.48

Investment
other than securities

10000

10000

Interest

4193

Dividend

75

TOTAL(Rs)

126172

130439.98

Liabilities:-

Legal
Charges

1882

Cost
of notice in gazette and newspaper

1098

Incidental
outlay

8992.20

Creditor

1075

Surplus
Other Balance

512.78

Total

13559.98

Surplus(Rs.)

116880.00

The surplus
assets of the Company have also been distributed amongst the members
of the Company.

4. It is
further stated that the Voluntary Liquidator has not received any
complaint against the notices for voluntary winding up and the
resolution of the company published in the newspapers and the
Official Gazette.

5. It is
further stated that upon perusal of the Books of Accounts nothing
objectionable has been noticed. No public interest elements have been
involved. The Income Tax Department was also requested by the
official liquidator to issue no due certificate vide letters dated
11.10.2007 & 11.03.2011. No reply has been received from the
Income Tax Department. The Directors of the Company however, have
filed affidavits duly notarized on 08.06.2011 declaring that there
are no dues to the Government department or other authorities against
the Company and no prosecution is pending. They also have agreed to
indemnify in case any dues are found in future against the Company.
The Registrar of Companies have also issued a letter of no objection
against such winding up.

6. Since all
necessary formalities have been completed and it is found that there
is no objection to winding up the Company voluntarily, it is hereby
directed that the Company shall stand dissolved from the date of this
order. The Voluntary Liquidator shall reserve the books of accounts
of the Company for the period of 5 years from today. He shall also
ensure that the Official Liquidator is paid cost of Rs.5,000/-. The
Official Liquidator’s Report is disposed of accordingly. Copy of this
order shall be communicated to the Registrar of Companies.

(Anant S.

Dave, J. )

*pvv

   

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