Delhi High Court
M/S Luk Auto Ancilliary (I) Ltd vs ---- on 10 October, 2012
Author: Indermeet Kaur
$~6
* IN THE HIGH COURT OF DELHI AT NEW DELHI
% Date of Judgment:10.10.2012
+ CO.PET. 95/1978
IN THE MATTER OF
M/S LUK AUTO ANCILLIARY (I) LTD. ..... Petitioner
Through: Mr. Gopal Singh, Adv.
CORAM:
HON'BLE MS. JUSTICE INDERMEET KAUR
INDERMEET KAUR, J. (Oral)
Co. Application No 1952/2012
1. Delay in filing the application is condoned.
Application disposed of.
Co. Application No. 1951/2012
2. This application has been filed under Section 481 of the
Companies Act, 1956 seeking dissolution of the Company M/s. Luk
Auto Ancillary (I) Ltd. On 24.04.1981, the Company was provisionally
wound up. Final winding up order was passed on 06.05.1982.
3. The registered office of the Company located at Akash Deep
Building, 3rd Floor, Barakhamba Road, New Delhi was on lease. The
factory premises of company located at Faridabad, Haryana was sold for
Rs.70 lacs.
4. There were six directors of the Company. They did not file their
statement of affairs. Crl. O. No. 02/1982 was filed under Section 454 (5)
of the Companies Act which was disposed of on 13.04.1982. Claims
were invited by the Official Liquidator. Ten claims were filed. Five
claims were admitted. Five claims were rejected as documentary
evidence in support of these claims had not been filed. Details of the
payment made to the five creditors whose claims were admitted are
contained in para 10.
5. Claims of the secured creditors have been settled. Claims of the
workers have also settled. Thereafter under directions of the Court,
interest has also been paid to the workers, Bank of India, Regional
Provident Fund Commissioner and Haryana Financial Corporation.
6. Notice was also published for settlement of list of the
contributories. M/s Globe Motors Limited (a company in liquidation)
was a shareholder of this company. However, since no documentary
evidence was filed in support of this claim, this claim was rejected.
7. There are no other assets available for realization. No useful
purpose would be served in keeping the company alive. As per the
books of account maintained by the office of Official Liquidator the
fund position of the company as on 05.10.2012 is Rs.50,26,055.27.
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 cannot 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 M/s. Luk Auto Ancillary (I) Ltd is
dissolved under Section 481 of the Companies Act. The Official
Liquidator is permitted to transfer the balance fund available in the
Company's account to the Reserve Bank of India after creating
provision for payment of government fee, audit fee and other 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. 1951/2012 as also the Company Petition No.95/1978 are
disposed off and the Official Liquidator is discharged. The files and
records of the company be consigned to record room.
INDERMEET KAUR, J
OCTOBER 10, 2012
A
