TaxTMI 
TaxTMI 
TaxTMI 
1995 (12) TMI 275
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....d application has been filed by the official liquidator, under section 481 of the Companies Act, 1956 ("the Act", in short), for dissolution of the company, Faizabad Roofing Company Ltd. (hereinafter referred to as "the company (in liquidation)"). The relevant facts, in brief, are that the company (in liquidation) was promoted as a joint sector enterprise by the U.P. Small Industries Corporation ....
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....in liquidation) for not filing the statement of affairs. To this application, a counter affidavit was filed by Sri R.K. Kapoor, who was one of the nominee directors of the company, U.P.S.I.C. and Sri V.K. Manoocha, who was one of the directors on behalf of the private entrepreneurs. In the counter-affidavit filed by R.K. Kapoor, it was stated that he was only a nominee director of the company and ....
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.... be in their possession. While hearing the said application, this court had directed learned counsel appearing for U.P.S.I.C. to get a chartered accountant appointed and to file the statement of affairs after inspecting the records from the office of the Registrar of Companies or the tax authorities. Efforts with regard to the same were made by the U.P.S.I.C. but the chartered accountant also fai....
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....mstances of the present case, I agree with the submissions made by the official liquidator that no useful purpose shall be served in keeping the matter alive. The records of the company are not available. Unless a statement of affairs is filed the official liquidator cannot proceed in the matter. Eight years have gone by and no progress could be made for want of records. The nominee director is al....