Paschim Gujarat Vij Company Ltd vs Official Liquidator Of Volvo ...
2021 Latest Caselaw 18181 Guj

      C/COMA/208/2014                             ORDER DATED: 07/12/2021




            IN THE HIGH COURT OF GUJARAT AT AHMEDABAD

                 R/COMPANY APPLICATION NO. 208 of 2014
                                  In
                    R/COMPANY PETITION NO. 18 of 1998

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                 PASCHIM GUJARAT VIJ COMPANY LTD
                              Versus
     OFFICIAL LIQUIDATOR OF VOLVO STEELS PVT. LTD. & 1 other(s)
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Appearance:
MS LILU K BHAYA(1705) for the Applicant(s) No. 1
MR PATHIK M ACHARYA(3520) for the Respondent(s) No. 1
OFFICIAL LIQUIDATOR(16) for the Respondent(s) No. 1
MS SHRUTI DHRUVE FOR THAKKAR AND PAHWA ADVOCATES(1357) for
the Respondent(s) No. 2
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 CORAM:HONOURABLE MR. JUSTICE BHARGAV D. KARIA

                            Date : 07/12/2021

                               ORAL ORDER

Heard learned advocate Ms.Lilu K. Bhaya for the applicant and learned advocate Ms.Shruti Dhruve for Thakkar and Pahwa Advocates for the respondent No.2.

1. By this application, the applicant has prayed for the following reliefs :

"A) Your Lordship may be pleased to allow the present application and further be pleased to permit the applicant to execute the judgment and decree passed by the Learned 3rd Additional Senior Civil Judge, Bhavnagar Camp at Mahuva dated 10.5.2011 passed in Special Civil Suit No.177 of 1998 decreeing the said suit for Rs.2,71,78,800.23 with interest @ 9% p.a. from the filing of the suit till realisation from all the defendants thereto and further be pleased to direct the Official Liquidator of M/s. Volvo Steel Private Limited to pay the same to the applicant for the reasons stated in the

C/COMA/208/2014 ORDER DATED: 07/12/2021

accompanying affidavit-in-support of Judges' Summons and in the interest of justice and fairness of things;

(B) Your Lordships be pleased to grant such other and further reliefs as may be deemed fit, just and proper in the interest of Justice and fairness of things."

2. Learned Official Liquidator has tendered the Official Liquidator's Report wherein, it is stated that the Chartered Accountant M/s.Naimish Shah & Co. was appointed and as per the books of accounts maintained by the Office of the Official Liquidator, fund position of the Company in liquidation as on 30th November, 2021 is Nil so far as Cash, Bank and FDR are concerned. Learned Official Liquidator has also produced on record the certificate dated 01.12.2021 issued by the Chartered Accountant.

3. In view of the above, no fund is available in the account of the Company in liquidation to settle the dues of any unsecured creditors/statutory authorities under Section 530 of the Companies Act, 1956. The Official Liquidator is therefore directed to file a report for passing necessary orders under Section 481 of the Companies Act for dissolution of the Company.

4. With the aforesaid direction, this Application stands disposed of. Notice is discharged.

(BHARGAV D. KARIA, J) PALAK