M/S.Auriferous Aqua Farms Ltd., (In Liqn.) v. No Respondent

THE HON'BLE SRI JUSTICE CHALLA KODANDA RAM COMPANY APPLICATION No. 70 OF 2019 IN COMPANY PETITION No. 69 OF 1998 O R D E R :

This Application is filed under Section 481 of the Companies Act, 1956 read with Rules 281, 282 & 9 of the Companies (Court) Rules, 1959 for dissolution of M/s Auriferous Aqua Farms Limited, company in liquidation and seeking the reliefs as set out in paras (i) to (vii).

This Court, by order dated 25.11.1998, directed winding up of the company in liquidation.

Heard Sri J. Srinath Reddy, learned counsel for the Official Liquidator and perused the statement of affairs of the company and also the affidavit of the Official Liquidator. As per the affidavit of the Official Liquidator, since there were no transactions in the company in liquidation, the requirement of conducting audit in terms of the Companies (Court) Rules, 1959 is dispensed with. As per the statement of affairs, no amounts are due to the workmen. The balance available to the credit of the company is only Rs.22,332-62 Ps. Further, no assets are available to be put for sale and no cases are pending as per the available records. In the circumstances, no useful purpose would be served in continuing the winding up proceedings without dissolving the company.

The Company Application is accordingly, allowed. The Official Liquidator shall transfer the amount of Rs.22,332-62 Ps. to the Company's Liquidation Account in the Reserve Bank of India. Consequently, Company Petition No. 69 of 1998 is closed. The

Official Liquidator shall forward the certified copy of this order to the Registrar of the Companies along with the statement signed by the Official Liquidator, as mandated under Rule 282 of the Companies (Court) Rules, 1959.

____________________________ CHALLA KODANDA RAM, J 25th October 2019 ksld