VIPIN SANGHI
Col. M. R. Bhakshi – Appellant
Versus
Fintra Systems Ltd. – Respondent
Vipin Sanghi, J.
C.P. No. 233/1997
1. On 17.01.2002 counsel for the respondent company made a statement that he has no objection to the company being wound up as prayed in the petition, and the official liquidator being appointed as provisional liquidator of the respondent company. Accordingly, the Court appointed the official liquidator as the provisional liquidator of the respondent company to take charge of the assets and records of the respondent company. Mr. Luthra states that on 30.04.2004 the official liquidator sought to institute proceedings under Section 454 of the Companies Act against the ex-directors and also to take action under Section 468 and 477 of the Companies Act against them, for their failure to file a statement of affairs and failure to produce the records and Accounts Books and assets of the company. However, till date the said report filed on 30.04.2004 has not been taken up. On account of the non-filing of the statement of affairs by the ex-Directors of the company, the prayer made in this report is allowed and the official liquidator is not only permitted, but also directed to file a criminal complaint under Section 454 of the Companies Act and a
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