Gravure Cils India P Ltd vs Intergraph Technologies India P ...
2012 Latest Caselaw 4643 Del

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*      IN THE HIGH COURT OF DELHI AT NEW DELHI

%                                Date of Judgment:06th August, 2012


+             CO.PET. 156/2002 and Co. Appl. 1460/2012



GRAVURE CILS INDIA P. LTD.                             ..... Petitioner
                  Through                 Mr.Manish Bishnoi, Adv. for the
                                          Official Liquidator.

                        Versus


INTERGRAPH TECHNOLOGIES INDIA P. LTD.                     ..... Respondent
                 Through: None.


       CORAM:
       HON'BLE MS. JUSTICE INDERMEET KAUR


INDERMEET KAUR, J. (Oral)

1 This application has been filed under Section 481 of the

Companies Act, 1956 seeking dissolution of the Company M/s.

Integraph Technologies India P. Ltd. On 31.3.2003 Provisional

Liquidator has been appointed of the aforenoted company. Final

winding up order was passed on 12.4.2012. In terms of the order dated

31.3.2002 a team of the Official Liquidator visited Y-54, Okhla

Industrial Area, Phase-II, New Delhi (registered office); it was on

24.04.2003 for taking possession of the aforenoted premises. The team

met Mr.Sanjay Kalia, Ex Director of the company; he showed rent deed

in respect of the ground floor and identified that the ground alone had

been taken by the company on rent. The Official Liquidator sealed the

ground floor and put his locks on the said premises which is the

registered office as also factory premises.

2 On 25.8.2004 Mr.Sanjay Kalia (Ex-Director of the company) had

filed his statement of affairs; statements of Mr.Sanjay Kalia and

Mr.Aurag Shriniwas, (the other Ex-Director of the company) were also

recorded under Rule 130 of the Company (Court) Rules.

3 On 27.9.2004 and 29.9.2004 the plant and machinery

{hypothecated with M/s Mahindroo Chemicals (P) Ltd and Dhanlaxmi

Bank Ltd. (Secured Creditors)} had been handed back by the Official

Liquidator to them. The total machinery articles lying at the factory

premises/registered office of the company amounting to Rs.20,49,407/-

has since been handed back to the aforenoted secured creditors on

different dates in the year 2004. Vide order dated 10.3.2005 Official

Liquidator had been permitted to use the Santro Car on payment of

Rs.2,10,000/- into the account of the said company.

4 On 23.5.2009 an auction was held for the remaining articles lying

at the factory premises. In a interse bid the articles were sold for a sum

of Rs.2.63 lacs to M/s Manoj Electronics.

5 In terms of the order of this Court dated 08.7.2010, the Official

Liquidator had invited claims from all the creditors and workmen by

issuing publication in the newspaper „Amar Ujalla‟ (hindi edition) and

„The Statesman‟ (english edition). Last date of submission of claims

was 15.9.2010; pursuant to the aforenoted publication a claim of

Rs.23.27 was received from the Tax Recovery Office, Range-11, C.R.

Building New Delhi; a claim of Rs 23,26,663/- was received from the

Deputy Commissioner of Central Excise, Division Nehru Place New

Delhi; as also another claim of Rs. 23,34,141/- was received from the

Employees Provident Fund Organization of which an amount of

Rs. 8,43,882/- was admitted by the Official Liquidator. It has released

the payment of EPFO of Rs. 4,75,000/- through RTGF on 05.07.2012.

6 In compliance of the order of this Court dated 08.9.2011 an

amount of Rs.1,25,642/- has been released to M/s Triple S. Security

Agency in full and final settlement of their claims through RTGS mode

on 27.09.2011.

7. In compliance of the order of this Court dated 24.05.2012 the

Office of the Official Liquidator has published the final winding up

citation in "Statesman" (english edition) and "Veer Arjun" (hindi

edition); which was on 27.07.2012 and the expenses of the same of

Rs.50,000/- have to be borne by the two Ex-Directors in equal

proportion i.e. Rs.25,000/-each by Mr.Sanjay Kalia and Mr.Anurag

Shriniwas.

8 No other proceedings/any Criminal Complaint is pending before

this Court in respect to Company (liqn.)

9 This application has averred that there are no other assets

available for realization. As per the books of account maintained by the

office of Official Liquidator the fund of the Company as on 15.07.2012

is Rs.45,130.69.

10 In the case of Meghal Homes (P) Limited Vs. Shree Niwas Girni

K.K. Samiti & ors. (2007)7 SCC 753, the Supreme Court, inter alia, in

paragraph 31 thereof, held as under :-

"......when the affairs of the Company had been completely wound up or the Court finds that the Official Liquidator can not proceed with the winding up of the Company for want of funds or for any other reason, the Court can make an order dissolving the Company from the date of that order. This puts an end to the winding-up process."

11 In view of the above decision of the Supreme Court and the facts

and circumstances of this case, the liquidation proceedings deserve to be

brought to an end. Consequently, M/s. Integraph Technologies India

Pvt. Ltd. is dissolved. Liquidation expenses of Rs. 50,000/- shall be

borne by the ex Directors in equal proportion i.e. Rs.25,000/-; the ex.

Directors, namely, Sh. Anurag Shriniwas and Sh. Sanjay Kalia (all are

represented through their counsel) are directed to deposit a sum of

Rs.25,000/- each as liquidation expenses in the Common Pool Fund of

the Official Liquidator within one week from today. The Official

Liquidator is permitted to close the books of account of the company. A

copy of this order shall be communicated to the Registrar of Companies

within 30 days by the Official Liquidator. The present application and

the Company Petition No. 156/2012 are disposed off and the Official

Liquidator is discharged. The files and records of the company be

consigned to record room.

AUGUST 06, 2012
nandan                                  INDERMEET KAUR, J