2025 (9) TMI 1003

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.... and Ms. Dhwani Y. Chandarana for Respondent No. 2 i.e. Integrated Finance Company Ltd. (IFCL). 2) By way of this report, the Official Liquidator has sought for grant of the following reliefs :- a) This Hon'ble Court may be pleased to permit the Official Liquidator to disburse an amount of Rs. 13,99,230/- in favour of Gujarat State Finance Corporation as full and final amount under section 530 of the Companies Act, 1956 subject filing of usual undertaking in the office of the Official Liquidator that if it is found any excess payment have been made then same shall be refunded by them forthwith alongwith prevailing rate of interest. b) This Hon'ble Court may also be pleased to permit the Official Liquidator to di....

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....y Premises at C1-B-250/2, GIDC Industrial Area, Umargaon, Dist. Valsad, Dist. Gujarat. After taking possession of movable and immovable assets of the company, the same have been sold for sale consideration of Rs. 21,00,000/- in favour of highest bidder in terms of order dated 31.01.2008 passed by this Hon'ble Court in Official Liquidator's Report No.3 of 2008. 5) After realization aforesaid assets of the company, this Hon'ble Court vide order 27.07.2017 passed in Official Liquidator's Report No. 59 of 2017 permitted the Official Liquidator to invite the claims of creditors and workers of the company in liquidation under section 529/29A and 530 of the Companies Act, 1956 in newspapers and also permitted the Official Liquid....

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....nding up. 8) The report indicates that fund of Rs. 31,92,269/- as on 31.01.2025 is available in account of the company in liquidation. 9) The Official Liquidator also stated in report that as per the balance certificate dated 07.01.2025 issued by M/s. P.C. Rathod & Co., Chartered Accountants, following balance is in the account of the company in liquidation. Sr. No. Particulars Amount (Rs.) 1 Cash - 2 Bank 3,42,880/- 3 FDR 28,61,551/- 10) Therefore, the Official Liquidator has filed present report proposing to disbursement of Rs. 31,50,000/- in favor of Gujarat State Finance Corporation (GSFC) and Integrated Finance Company Ltd. (IFCL) in ratio of 44.42% and 55.58% amounting to Rs. 13,99,230/- an....

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....nded that where a Company has been dissolved, the Court may at any time within Two (2) years of the date of dissolution, on application by the liquidator of the Company or by any other person who appears to this Court to be interested, make an order, upon such terms as the Court thinks fit, declaring the dissolution to have been void in terms of the provisions of Section 559 of the Companies Act, 1956 and thereupon such proceedings may be taken as might have been taken if the Company had not been dissolved. That, the Official Liquidator craves leave of this Court to file an application, if required in future, as the case may be, in the best interest of justice and equity. 16) In light of the aforesaid, it is prayed that the report may be....