2018 (12) TMI 964

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....learned advocate for the Official Liquidator. By this Report under Section 481 of the Companies Act, the Official Liquidator has prayed for dissolution of the Company named - M/s. Gujarat Taxfeb Private Limited. At the outset, it deserves to be noted that company named - Gujarat Taxfeb Private Limited is a subsidiary company of Gujarat State Textile Corporation Limited (hereinafter referred to as ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....atra (IAS), Mr. Vijay Ranchan Sharma (IAS) and Mr. Ravi Saxena (IAS) were found to be the ExDirectors of the said company. The record also indicates the followings facts: 1. The said company is not having any fixed assets. 2. The company has not commenced any manufacturing and / or trading business. 3. The company is not having any loan, secured and unsecured, to the com....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ll. 4.0. The Official Liquidator has further averred that Ex Director being IAS Officer appears to have filed statement of affairs as required under Section 454 of the Act, however same are not traceable in the office of the Official Liquidator as the record is very old. The Official Liquidator has further averred that the company has no bank balance or cash balance and even as per the certific....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Hon'ble Apex Court in the case of Meghal Homes Pvt. Ltd vs. Shree Niwas Girni K K Samiti reported in (2007) 7 SCC 753, it is contended by the Official Liquidator that this Court may pass appropriate order of dissolution of the Company in liquidation. It is further contended that in this circumstances it is not possible for the Official Liquidator to further carry out the proceedings of the win....