Misfeasance and statement-of-affairs proceedings can be kept in abeyance when respondents cannot be served despite repeated attempts.

Misfeasance proceedings under section 543 of the Companies Act and proceedings for failure to file the statement of affairs under section 454(5) were consigned to record because repeated attempts at service had failed, warrants had not secured appearance, and the respondents could not be traced despite prolonged pendency of the winding-up matter. The Court accepted that no immediate progress was possible on the record before it, but kept the applications open by granting liberty to revive them if the respondents later became traceable. Final dissolution under section 481 was not ordered.

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Issues: Whether the company applications seeking misfeasance and criminal proceedings could be allowed to be consigned to record with liberty to revive the proceedings when the respondents could not be served despite repeated s.

Analysis: The applications were under section 543 of the Companies Act for misfeasance proceedings and under section 454(5) of the Companies Act for proceedings relating to failure to file the statement of affairs. The request was supported by the record showing prolonged pendency of the winding up matter, repeated unsuccessful attempts at service, issuance of warrants, and inability of the authorities to trace the respondents. In these circumstances, the Court accepted the explanation that further immediate progress was not possible, while preserving the possibility of revival if the respondents later became traceable. The company was not ordered to be finally dissolved under section 481 of the Companies Act.

Conclusion: The applications were allowed, the company applications were consigned to record, and liberty was reserved to seek revival of the proceedings when the respondents' whereabouts become known.

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