Delhi High Court
Re-M/S Comet Glass Ltd. vs ... on 30 November, 2021
$~8 (company)
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ CO.PET. 211/1996
RE-M/S COMET GLASS LTD. ..... Petitioner
Through: None
versus
... ..... Respondent
Through: Ms. Isha Khanna, Standing
Counsel for OL
CORAM:
HON'BLE MR. JUSTICE C. HARI SHANKAR
O R D E R ( O R A L)
% 30.11.2021
CO.APPL.759/2021
1. This is an application under Section 481 of the Companies Act,
1956, filed by the Official Liquidator for dissolution of M/s Comet
Glass Ltd. ("the Company").
2. Vide order dated 1st February, 2002, the Official Liquidator
attached to this Court was appointed as the Liquidator to take charge
of the affairs of the Company. Consequent thereto, a team of officers
from the office of the Official Liquidator visited the registered office
of the Company situated at 12/29, Saket Block, Near Inder Public
Signature Not Verified
Digitally Signed
By:SUNIL SINGH NEGI
Signing Date:06.12.2021
11:15:05
School, Mandawali, Fazalpur, Delhi on 4th March, 2002. However, as
the premises had been rented to the company, which had already
vacated the premises, possession could not be taken by the Official
Liquidator.
3. A second team from the office of the Official Liquidator visited
the two factories of the company located at Khasra No. 110, Mauza
Sukhmalpur, Nizamabad, Firozabad, and Village & P.S. Hathwant
Kotla, Sikhohabad Link Road, Firozabad. The factories were however
found locked and they were accordingly sealed by the Official
Liquidator.
4. Notices under Section 454, 456 and 468 read with 477 of the
Companies Act, 1956 and Rule 130 of the Companies (Court) Rules,
1959 were issued to former directors of the company, for handing over
their records, recording their statement and to file a statement of
affairs. Two of the former directors namely Mr. A.K. Nair and Mr.
P.K. Aggarwal appeared before the Official Liquidator on 16th
October, 2002. Their statements were recorded under Rule 130 of the
Companies (Court) Rules. Thereafter, the statement of Mr.
Dharmendra Kumar Mishra was recorded on 13th August, 2004.
5. Statement of affairs was filed by Mr. P.K. Aggarwal with the
concurrence of Mr. A.V. Nair and Mr. Dharmendra Kumar. The
statement of affairs was, however, defective. Though the former
Signature Not Verified
Digitally Signed
By:SUNIL SINGH NEGI
Signing Date:06.12.2021
11:15:05
directors agreed to remove the defects, they remained unrectified till
date.
6. The books of accounts, statutory records and other assets of the
company have not been furnished by the former directors to the
Official Liquidator.
7. Vide order dated 7th May, 2014, this Court permitted the
Official Liquidator to take steps for valuation and sale of the
properties of the Company located at Unit No.1, Khasra No. 110,
Mauza Sukhmalpur, Nizamabad, Firozabad. Consequent to valuation,
the property was auctioned and sold vide order dated 13th December,
2018. After receipt of the entire sale consideration, possession of the
property was handed over to the auction purchaser on 24th January, 2019.
8. The remaining properties of the Company also stand sold.
9. Consequent to order dated 13th January, 2014 of this Court,
notices were published in newspapers, inviting claims of secured and
unsecured creditors and workmen of the Company on 28th January, 2014.
No claims were received in response to the said advertisement.
However, subsequently, claims were received, against the Company
from the Employees Provident Fund Organisation (EPFO) and the
Income Tax Department. The status of these claims had been provided
in a tabular statement in para 13 of the application thus:
Signature Not Verified
Digitally Signed
By:SUNIL SINGH NEGI
Signing Date:06.12.2021
11:15:05
NAME OF AMOUNT AMOUNT AMOUNT
CLAIMANT CLAIMED ADMITTED DISBURSED
(In Rs.) (In Rs.) (In Rs.)
Employees 5,24 635/- 5,24,635/- Rs 5,24,635 has
Provident been disbursed on
Fund 21.10.2020 in
Organization terms of the Order
dated 26.02.2020
of this Hon'ble
Court.
Canara Bank 15,56,34,987.67 Rs. 2,25,00,000
had been is
disbursed in
compliance of the
Order dated
18.02.2014
of this Hon'ble
Court
Income Tax 668.53 Lacs 14,80,281/- Rs 14,80,281/-
Department has been
disbursed on
01.09.2020 in
terms of the Order
dated 26.02.2020
of this Hon'ble
Court.
10. The company's accounts are stated to have no further assets,
movable or immovable from which any moneys could be realized. No
useful purpose, therefore, would be served by keeping this matter
pending. Citing the judgment of the Supreme Court in Meghal
Homes (P) Limited v. Shree Viwas Gimi K.K. Samiti & Ors.1, the
official Liquidator has sought for passing of orders dissolving the
company and terminating the winding up process.
(2007) 7 SCC 753
Signature Not Verified
Digitally Signed
By:SUNIL SINGH NEGI
Signing Date:06.12.2021
11:15:05
11. The total amount in the accounts of the company is stated to be
₹ 1,10,319.72.
12. In view thereof, it is clear that nothing survives for adjudication
in this matter. All assets of the company have been sold. There is no
outstanding amount remaining in the account of the Company, rather
the company is facing a shortfall of funds. No creditors of the
Company remain to be satisfied.
13. As such, the Official Liquidator is permitted to close the books
of account of the Company and adjust a shortfall of ₹14,410.28 from
the Common Pool Fund maintained by the Official Liquidator. The
Company M/s Comet Glass Ltd. stands dissolved under Section 481 of
the Companies Act, 1956. The Official Liquidator is discharged.
14. The application is allowed accordingly.
15. Crl. O. (Co.) 5/2015 also stands disposed of accordingly.
C. HARI SHANKAR, J
NOVEMBER 30, 2021/kr
Signature Not Verified
Digitally Signed
By:SUNIL SINGH NEGI
Signing Date:06.12.2021
11:15:05
