TaxTMI 
TaxTMI 
2024 (3) TMI 989
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....ioner company supplied the goods to the respondent company under various purchase orders and sales vouchers amounting to Rs. 49,12,385 during the period of two financial years from 1.4.2008 to 31.3.2010, out of which, only Rs. 23,21,952/- was paid and the balance amount of Rs. 25,90,433/- remained unpaid. After the issuance of a demand notice dated 12.1.2015 when the amount was not paid, the present petition was filed on 25.2.2015. 3. Vide order dated 2.3.2015 notice was issued to the respondent. Shri R.P. Joshi, Advocate filed his Vakalatnama on behalf of the respondent company. Vide order dated 5.11.2015, the Company Judge passed an order for winding up of the respondent company in accordance with the provisions of Companies Act, 1956 re....
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....ourt Rules, was dispensed with as there are only two unsecured creditors who were required to be disbursed the amount of Rs. 43.00 Lakhs as dividend. On 24.11.2023 the Official Liquidator informed this Court that the amount of Rs. 43.00 Lakhs has been distributed and an Auditor is required to be appointed so that the final audit report can be prepared. Necessary permission was granted by this Court. It is also submitted that Rs. 30.00 Lakhs have come into the account of the company in liquidation by way of refund by the Income Tax Department. Now, the Official Liquidator has filed OLR No.6/2024. By this OLR, the Official Liquidator is seeking the following reliefs : "i) Report of the Official Liquidator may kindly be perused and taken on ....
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....ny (in-liqn.), if permitted by this Hon'ble Court, as prayed in prayer clause no.(iv) of this report." 3.4 As per OLR No.6/2024, professional fees of Rs. 20,000/- is to be paid to M/s. Swapnil Jain & Co., Chartered Accountant out of the funds available in the account of the company in liquidation and after completion of the account, submitted the audit report on 29.12.2023. The Official Liquidator is seeking permission to pay the professional fees bill of Rs. 20,000/-. As on today, a total amount of Rs. 2,89,022.12 is available in the account of the company in liquidation as mentioned in Para 4 of OLR No.6/2024. The Official Liquidator is also seeking permission to pay the professional fees bill of Rs. 60,000/- Shri H.Y. Mehta, Advocat....
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....e company in liquidation, there would be no need to appear to defend M/s. STI Phoenix Wear Pvt. Ltd., a company in liquidation before the Commercial Court by the Official Liquidator. Hence, the further appearance of the Official Liquidator is not required as it is a dispute in respect of the rented property. 6. In view of the above, the affairs of the respondent company in liquidation appear to be completely wound up. It is not feasible to proceed further in the winding up company. On perusal of OLR No.6/2024 including the documents on record, no other assets are available for realization of the dues of the creditors. All the assets of the company in liquidation had already been sold by the Bank and realized its dues. No secured creditors ....