2017 (10) TMI 1068

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ny') in its capacity of a creditor as per the direction of this Court vide order dated 30.04.2012. 2. On 14.09.2017, learned counsel for the ex-management stated that he has no objection in case the company is wound up. 3. The respondent Company was incorporated on 14.06.1988, under the Companies Act, 1956 as a public Company, limited by shares. 4. The Registered Office of the Company is situated at B-22, Ansal Chambers-I, Bhikaji Kama Place, New Delhi and the Respondent Company is registered with the Registrar of the Companies, Delhi & Haryana, as per the records available in the MCA portal. The authorised share capital and paid up share capital of the respondent Company is `1,00,000/- each. 5. The main objects of which respond....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Investigation Office in its report has found that in 1996-97, there is siphoning of funds in JVG group of Company by purchasing land in district Gurgaon (Haryana) to the tune of Rs.46,64,790 and during the period 1996-97 last tracts of land in Gurgaon have been purchased from the fund of petitioner in the name of respondent company and other group of JVG . It has been further reported that from the funds of petitioner, 03 Acre 06 kanal 13 Marla of lands for Rs.46,64,790-/ has been purchased in Villages of Distt. Gurgaon in the name of the respondent company and the amount has not been paid back by the respondent company to petitioner and as such later is the creditor of the respondent company. 10. The SFIO in Chapter III of his report h....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... of India had filed a winding up petition on 04.06.1998 being CP No. 265/1998 against JVG Finance Ltd wherein the Provisional Liquidator was appointed by this Court on 05.06.1998 and winding up order passed on 29.08.2003. Similarly, winding up petitions were filed by the Reserve Bank of India against some group companies of JVG and provisional liquidator was appointed and winding up orders were passed against the said companies as stated in para 14 of the petition. 13. It is apparent that the business of the respondent company has been carried on fraudulently, deceptively and with malafide intentions, and therefore, the fit case to lift the corporate veil of the respondent company. As per the affidavit dated 14.02.2012 filed in this Cour....