Delhi High Court
Brijender Pratap Singh vs K.P. Pan Masala Company. Ltd. on 1 November, 2019
$~C-45
* IN THE HIGH COURT OF DELHI AT NEW DELHI
% Date of decision: 01.11.2019
+ CO.PET. 12/2014
BRIJENDER PRATAP SINGH ..... Petitioner
Through None
versus
K.P. PAN MASALA COMPANY. LTD. ..... Respondent
Through Ms.Ruchi Sindhwani, Advocate with
Ms.Megha Bharara, Advocate for
Official Liquidator.
CORAM:
HON'BLE MS. JUSTICE JYOTI SINGH
JYOTI SINGH, J. (ORAL)
Co. Appl. No. 1166/2019
1. This application has been filed by the Official Liquidator under
Section 481 of the Companies Act, 1956, praying that K.P Pan Masala
Company Ltd (In Liquidation) be dissolved and the Official Liquidator be
discharged as its Liquidator.
2. Learned counsel for Official Liquidator submits that the Official
Liquidator was appointed as the Provisional Liquidator by order dated
07.03.2014 in K.P Panmasala Company Ltd. hereinafter referred to as
Company and the same was ordered to be wound up by order dated
31.07.2019 and the Official Liquidator attached to this Court was appointed
as the Official Liquidator of the Company.
3. Learned counsel for Official Liquidator submits that possession of the
Registered Office of the Company (In Liquidation) situated at Khasra No.
24/5, A Block, Jain Mandir, Deep Vihar, Pansoli, Rohini, Delhi-110085, also
known as G-95, Jain Mandir Road, Deep Vihar, Delhi was taken over on
29.03.2014. Subsequently, in compliance of order dated 22.04.2014,
possession of the Registered Office was handed over to landlord on
24.05.2014. Possession of another office at A- 24, 1ST Floor, Bunker Colony,
Ashok Vihar, Phase-IV, New Delhi was taken over on 11.11.2014, however,
in compliance of order dated 31.07.2019, the premises was handed back to
the landlord on 05.09.2019 and records were shifted to the record room,
South Block.
4. It is submitted by learned counsel for Official Liquidator that Ex-
Director, Mr. Neeraj Jain recorded his statement under Rule 130 of the
Companies Court Rules, 1959, on 03.04.2014 and filed the Statement of
Affairs on 25.03.2014. The other Ex-Directors of the Company (In
Liquidation) i.e. Mr. Hari Om Kaushik and Mr. Babu Ram Upadhyay, also
recorded their statement under Rule 130 of the Companies Court Rules, 1959
and also filed Form-58 concurring with the Statement of Affairs filed by Mr.
Neeraj Jain on 25.04.2014.
5. That as per the Statement of Affairs, the Company (In Liquidation)
had a bank balance in Punjab National Bank and subsequently
Rs.9,38,649.15/- and Rs.39,914.35/-, was transferred with the Official
Liquidator from the said Bank on 12.04.2014 & 15.04.2014.
6. It is further submitted by learned counsel for Official Liquidator that
the claims were invited by publishing the notice in the newspapers namely
Statesman (English) and Amar Ujala (Hindi) on 19.06.2016, in compliance
of order dated 28.03.2016. In response to the said advertisement, no claims
were received by the Official Liquidator. However, prior to publishing the
claim notice, one claim from Trade Tax Department, Ghaziabad for a sum of
Rs.2,18,21,124/- was received on 17.08.2015 and the same was scrutinized
and admitted as unsecured creditor for Rs.1,97,99,955/-. Further in
compliance of order dated 31.07.2019, a sum of Rs.10,00,000/- was
disbursed to Trade Tax Department, Ghaziabad vide DD No.464315 on
14.10.2019 alongwith letter dated 15.10.2019 by the Official Liquidator and
Rs.90,589/- were transferred to the Common Pool Fund as liquidation
expenses.
7. It is further submitted that a further sum of Rs.1,13,350/- has been
incurred as expenses and the same may also be transferred to the Common
Pool Fund.
8. It is submitted that the Official Liquidator has no further asset either
moveable or immoveable from which any money may be realized for the
Company (In Liquidation).
9. I have heard learned counsel for the Official Liquidator.
10. In the case of Meghal Homes (P) Ltd Vs Shree Niwas Girni
K.K. Samiti and Ors., (2007) 7 SCC 753, the Supreme Court, inter alia in
Paragraph 31 thereof, has 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".
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.
12. Application is allowed in the aforesaid terms.
CO.PET. 12/2014
13. Official Liquidator is permitted to transfer Rs.1,13,350/- to Common
Pool Fund and to close the books of accounts. The Company K.P Panmasala
Ltd. is dissolved.
14. A copy of this order be communicated to the Registrar of Companies
within thirty days.
15. Official Liquidator is hereby discharged.
16. The petition stands disposed of.
JYOTI SINGH, J
NOVEMBER 01, 2019
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