TaxTMI 
TaxTMI 
2021 (10) TMI 694
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....matter of M/s. Amaravathi Eye Care Hospital Private Limited seeking the following reliefs: - a) Pass an order of appointment of the Company Liquidator and also issue orders under Rule 17 (1) in Form WIN-11,12 and 13 b) Issue a direction to the directors and officers of the Company to submit to the Liquidator, within 30 days from the date of order, the books of accounts of the company completed and audited upto the date of the order under Section 274(3) of the Companies Act read with Rule18; c) Issue direction to the directors and officers of the Company to submit the statement of affairs of the Company under Section 274(1); d) Issue direction under Rule 19, to the petitioner to whom the order required to ....
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....es, vide order dated 18.9.2019, Shri Shanker P. Panicker, Advocate was appointed as Mediator. However, the mediator reported that no positive results were yielded through his mediation efforts. Later, based on the request of the learned counsel of both parties vide order dated 10.10.2019, Shri Shankar P. Panicker was appointed by this Tribunal as Administrator to update the Books of Accounts and regulatory requirements of the Hospital and also to explore the possibility to find out a suitable buyer for the Hospital. The Administrator has submitted his Final Report on 18.08.2020 stating that there have been no proposals from anyone to take over the Company or its assets. It is also stated that the Federal Bank, Mavelikkara being the lender i....
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....sons of the Company to complete the books of accounts and audit of the Company. 6. It is also stated that after the receipt of the order, the applicant visited the Company premises on 30.03.2021. Thereafter, he took custody of the premisses. It is found that no inventory of assets including hospital equipment, furniture and computers are available. Details of the bank account and cash balance were not provided. Therefore, the applicant could not take custody of the same. Since, the applicant was unable to collect the information from the Company he issued notices to all the directors on 30.03.2021. 7. Since, the directors have not submitted the books of account of the company and not completed the audit for the period from 01.04.2019 ....
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....ator. Without objecting to the appointment as "Provisional Liquidator" instead of "Liquidator" the applicant performed his duties and submitted a report on 30.03.2021 and filed Form INC-28 before the RoC Kerala. In the report it is stated that there was no co-operation from the side of the Directors or Officers of the Company. Now stating that he has been appointed as Liquidator by this Tribunal vide its order dated 19.03.2021, an order appointing him as "Company Liquidator" in Form WIN 11,12 and 13 is necessary to complete the duties assigned to him by this Tribunal. 11. On-going through the relevant rules, it is found that the correct Form to be issued to the applicant is Form WIN 11,12 and 13. Since the Liquidation order has already b....
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....lement of claims; (viii) payment of dividends, if any; and (ix) any other function, as the Tribunal may direct from time to time." From the above it is clear that this Tribunal is to constitute a Winding Up Committee to assist and monitor the progress of liquidation proceedings by the Company Liquidator. 12. With regard to the prayer for further 60 days' time, since more than 6 months already taken by the Provisional Liquidator, this Tribunal is of the opinion that 30 days more time can be granted to the Company Liquidator to complete his duties and submit the report. 13. With regard to the fees of the Provisional Liquidator and Company Liquidator, this Tribunal fix the fee of Rs. 50,000/- (Rupees Fifty Thousand) ....