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of <h1>Court approves members' voluntary winding up petition for M/s. Ganga Printex Pvt. Ltd.</h1> <h3>IN RE : Ganga Printex (P.) Ltd.</h3> IN RE : Ganga Printex (P.) Ltd. - TMI Issues:- Members' voluntary winding up petition under Section 433(a) read with Section 486 of the Companies Act, 1956.Analysis:1. The petition was filed for the voluntary winding up of the company M/s. Ganga Printex Pvt. Ltd. The company had an authorized share capital of Rs. 10,00,000 divided into 1,00,000 equity shares of Rs. 10 each. Initially, there were five directors, but due to resignations and demise, only two directors remained. A Special Resolution for voluntary dissolution was passed in an extraordinary general meeting on 27.03.2009, leading to the filing of this petition for voluntary winding up.2. The Official Liquidator was appointed to oversee the winding up proceedings. The Official Liquidator submitted a detailed report outlining the steps taken for convening the Extraordinary General Meeting, filing final statements of accounts with the Registrar of Companies, and distribution of assets to the remaining directors. The report also confirmed the absence of pending cases against the company or its directors in court.3. Complaints regarding the company's affairs were raised by individuals, including a complaint forwarded by the Registrar of Companies, Rajasthan. The Official Liquidator addressed these complaints and sought responses from the concerned parties. Despite the complaints, no objections were raised during the liquidation proceedings, and it was established that the affairs of the company were not conducted in a prejudicial manner.4. The Court, after considering the Official Liquidator's report and the circumstances, concluded that there was no basis to proceed with the earlier complaints against the company. The Court found that the company's affairs were not detrimental to the interests of its members or the public. Consequently, the petition was allowed, and M/s. Ganga Printex Pvt. Ltd. was ordered to stand dissolved from 15.02.2012, the date of submission of the Official Liquidator's report.
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