2020 (9) TMI 657

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....his Court' ('OL' for the sake of brevity) and today Mr.Bavisetty Sridhar, learned 'Deputy Official Liquidator' (hereinafter 'Deputy OL' for the sake of brevity) representing OL is before this Court in this web-hearing on a video-conferencing platform. 3. Prayer in captioned application, as can be culled out from the Judge's summons, reads as follows: 'a) Take this application as urgent; b) To take this report on record on the file of Hon'ble Court; c) To call for the pending application in C.A.No.390/2013 filed under Section 454(5(A) of the Companies Act, 1956 filed against the Ex-Directors and close the same as nothing could be proceeded in the affairs of the company in ....

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....order dated 18.07.2012 made in captioned CP, appointed OL as Provisional Liquidator qua said Company. Thereafter, what unfurled has been articulated in Paragraphs 3 to 6 of said report which read as follows: '3.It is submitted that in pursuance to the order stated supra, the Official Liquidator had deputed officials of his office to the registered office of the company situated at No.59, Thirunavukkarasu First Street, Indira Nagar, Rathinapuri, Coimbatore - 641 027 on 12.01.2013 after issuing due notices to the Ex-Directors and secured creditors for the purpose of taking possession of movable and immovable properties along with the books of accounts & records and other actionable claims of the company in provisional liquidation....

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....39; 6. The extracted portion of said report i.e., paragraphs 3 to 6 are self-explanatory and they speak for themselves. Learned Deputy OL submits that no claims are pending. 7. This Court also notices that the balance in the hands of OL is very meagre i.e., Rs. 26,259/- (Rupees Twenty Six Thousand Two Hundred and Fifty Nine only). 8. In the light of said report read in the context of submissions of learned Deputy OL coupled with the fact that only a meagre sum of Rs. 26,259/- is in the hands of OL, this Company Court is of the opinion that it is just and reasonable in the circumstances of this case to order dissolution of said company. To be noted, there is one limb of prayer for deposit of this meagre amount also in the appropriat....