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OLR/77/2011 4/ 4 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
OFFICIAL
LIQUDATOR REPORT No. 77 of 2011
=================================================
OFFICIAL
LIQUIDATOR - Applicant(s)
Versus
SANAT
S SHAH - Respondent(s)
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Appearance :
OFFICIAL
LIQUIDATOR for Applicant(s) : 1,
None for Respondent(s) :
1,
=================================================
CORAM
:
HONOURABLE
MR.JUSTICE ANANT S. DAVE
Date
: 20/06/2011
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 Shareholders
Equity
Share
1.
Mr.
Suhrid S. Sarabhai, Smt. Asha Sarabhai, & Dr. Anand S.
Sarabhai
954
2.
Smt.
Asha Sarabhai, Mr. Suhrid S. Sarabhai, & Dr. Samir S.
Sarabhai
1224
3.
Mr.
Samir S. Sarabhai, Mr. Suhrid S. Sarabhai & Smt. Asha Sarabhai
584
4
Dr.
Anand S. Sarabhai & Mr. Suhrid S. Sarabhai
160
TOTAL
2992
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
141
140.82
Loan
and Advances
210763
210763.26
Investment
other than securities
50025
50,000
Interest
7204
TOTAL(Rs.)
2,15,029
223108.08
Liabilities:-
Legal
Charges
1982
Cost
of notice in gazette and newspaper
1099
Incidental
outlay
17026.20
Creditor
3360
Other
944.88
Total
24412.08
Surplus
(Rs.)
198696
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 vide its letter dated 27.12.2001 issued a No
Objection Certificate to the company. 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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