TaxTMI 
TaxTMI 
TaxTMI 
2024 (6) TMI 715
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.... sold it to respondent Nos. 6 & 7. This is as per the memo of appearance in CO. APPL. 1195/2012 & 2735/2014. 2. The present winding up petition under Section 433(e) and 435 of the Companies Act, 1956 The Act was moved on behalf of the petitioner against the respondent company (in liquidation) and the winding up proceedings were ordered to be initiated in terms of the order dated 16.02.2000, leading to the appointment of a Provisional Liquidator vide order 09.11.2022, and eventually, the final order for the liquidation of the company was passed by this Court vide order dated 23.11.2000. 3. The Co. Application 1195/2012 is in the nature of a status report filed by the Official Liquidator to the effect that on inspection of the records of th....
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....Official Liquidator along with another application seeking condonation of delay of 43 days in filing the application. This application for condonation of delay has remained pending for long and since there is no objection to this, the same is allowed. 5. Evidently, it was found that the sale of the aforesaid property had been effected within a year of the presentation of the winding up petition on 07.09.1999 and further, the status that came forth was that one part of the property was later on sold by respondent No.5 to respondent No.6 vide registered Sale Deed dated 15.12.1999 and the other part of the property was sold to respondent No.7 vide registered Sale Deed dated 08.07.1999. However, the amount of sale consideration was not reflect....
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....y winding up,- (a) does not, to the best of his knowledge and belief, fully and truly discover to the Liquidator all the property, movable and immovable, of the company, and how and to whom and for what consideration and when the company disposed of any part thereof, except such part as has been disposed of in the ordinary course of the business of the company; (b) does not deliver up to the Liquidator, or as he directs, all such part of the movable and immovable property of the company as is in his custody or under his control, and which he is required by law to deliver up; (c) does not deliver up to the Liquidator, or as he directs, all such books and papers of the company as are in his custody or under his control and which he is require....
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....e winding up or at any time thereafter, fraudulently parts with, alters or makes any omission in, or is privy to the fraudulent parting with, altering or making of any omission in, any book or paper affecting or relating to the property or affairs of the company; (l) after the commencement of the winding up or at any meeting of the creditors of the company within the twelve months next before the commencement of the winding up, attempts to account for any part of the property of the company by fictitious losses or expenses; (m) within the twelve months next before the commencement of the winding up or at any time thereafter, by any false representation or other fraud, obtains on credit, for or on behalf of the company, any property which th....
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.... affairs of the company or to defeat the law.(2) Where any person pawns, pledges or disposes of any property in circumstances which amount to an offence under clause (o) of sub-section (1), every person who takes in pawn or pledges or otherwise receives the property, knowing it to be pawned, pledged, or disposed of in such circumstances as aforesaid, shall be punishable with imprisonment for a term which may extend to three years, or with fine, or with both. (3) For the purposes of this section, the expression "officer" shall include any person in accordance with whose directions or instructions the Directors of the company have been accustomed to act. of the Act. 7. On notice, separate replies have been filed on behalf of the respondent N....