IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 15.06.2011 CORAM THE HON'BLE MR. JUSTICE VINOD K.SHARMA Comp.A.No.2938 of 2007 in C.P.No.97 of 2003 ORDER
This application under Sec.454(5A) of the Companies Act read with Rules 9, 11(b) of Companies (Court) Rules 1959 has been filed by the Official Liquidator for prosecuting the respondents 4 & 6 for not filing the statement of affairs.
2 It is pleaded in the complaint that M/s.LTC Finance & Securities (P) Ltd. (in liquidation) ordered to be wound up by this Court in C.P.No.97 & 98 of 2003 and the Official Liquidator was appointed as Liquidator of the Company. As per Sec.454 of the Companies Act, the respondents 4 & 6 were required to file the statement of affairs of the Company within 21 days of the order. The respondents 4 & 6 are shown to be directors of the Company on the date of winding up order passed by this Court. They have not filed statement of affairs of the Company with the Official Liquidator.
3 The respondents 4 & 6 are present in Court. In the counter filed by the fourth respondent, the factum that the respondents 4 & 6 had taken over by the Company is not disputed. The only stand taken is that the records of the Company were removed by the landlord of the Company after breaking over the lock.
4 The averments made in Company application and the counter, prima facie show that the respondents 4 & 6 are guilty of non compliance of provisions of Sec.454(1) of the Companies Act.
5 Accordingly, charges framed against the respondents 4 & 6 under Sec.454(1)(2)(3) of the Companies Act to show cause as to why the respondents 4 & 6 be not punished for not filing the statement of affairs.
4 The matter is directed to be placed before the Additional Master for recording evidence of the parties, on 22.06.2011.
5 The learned Additional Master is directed to record the evidence within six months and remit the case to this Court or further proceedings.
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