Delhi High Court
In The Matter Of Atlantic ... vs ---- on 17 August, 2012
Author: Indermeet Kaur
$~1
* IN THE HIGH COURT OF DELHI AT NEW DELHI
% Date of Judgment: 17.8.2012
+ C.P.No.23/1985 & C.A. No.1532/2012
IN THE MATTER OF ATLANTIC ENGINEERING SERVICES
P.LTD. ..... Petitioner
Through: Mr.Manish Bishnoi, Adv. for the
Official Liquidator.
Mr.Ashish Mohan, Adv. for
Contributries.
Mr.Yashpal Rangi, Adv. for
E.T.O. Faridabad.
CORAM:
HON'BLE MS. JUSTICE INDERMEET KAUR
INDERMEET KAUR, J. (Oral)
1 This is an application filed by the Official Liquidator seeking
dissolution of the company namely Atalantic Engineering Services P.
Ltd. (hereinafter referred to as the Company). The company was wound
up on 12.8.1987.
2 The registered office of the company was a lease hold property;
on an application filed by the landlord the premises were handed back to
the landlord on 21.02.1989. The plant and machinery lying in the
factory premises of the company located at 19 K.M. Stone, Mathura
Road, Faridabad were sold for an amount of Rs.1,00,00,000/- and the
possession was handed over to the auction purchaser on 18.11.2002.
3 The Ex-Directors Mr. S.S.Sandhu and Mr. V.S. Grewal had filed
their statement of affairs which were found to be defective. The
Criminal complaint {Crl.O.(Co) No.8/1993} was thereafter disposed of
on 15.9.2004.
4 Pursuant to the claims having been invited by the Official
Liquidator six claims were received and five workers were paid but one
worker did not turn up to collect his amount; details of payments had
been mentioned in para 7.
5 The secured creditor Punjab and Sind Bank was also paid various
amounts and date and details thereof find mention in para 9. An amount
of Rs.12,36,483/- had also been paid to the Excise and Taxation Office,
Faridabad.
6 Pursuant to the orders of this Court dated 23.5.2011 claims were
invited from the contributories/shareholders of the company; a list of 11
contributories had been filed by the Ex-Director. Today the
contributories have been represented through their counsel. In this
application, it has been averred that the contributories had not filed any
documents in support of their claims in spite of letters/reminders issued
to them dated 11.4.20012, 11.5.2012, they not having filed their claims
along with the requisite documents their claims were finally rejected
vide letter dated 23.7.2012. These facts are not dispute. Learned
counsel for the contributories/shareholders concedes that the
contributories have no original documents in support of their claims.
7 The fund position of the Company as on date is Rs.26,25,640/-.
No other realizable assets are available in the hands of the Official
Liquidator.
8 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."
9 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 Atalantic Engineering Services P.
Ltd. is dissolved under Section 481 of the Companies Act. The Official
Liquidator is also permitted to transfer the balance fund available in the
Company's account to the Reserve Bank of India after creating
provision or making payment towards the government fee, audit fee and
liquidation expenses. 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 C.A. No.1532/2012 as also the Company
Petition No.23/1985 are disposed off and the Official Liquidator is
discharged. The files and records of the company be consigned to
record room.
INDERMEET KAUR, J
AUGUST 17, 2012
nandan
