The central legal point established in the judgment is the application of Section 481 of the Companies Act, 1956, for the dissolution of a company in liquidation.

ORDER :

Heard learned advocates for the parties.

2. By this report under section 481 of the Companies Act, 1956, the Official Liquidator has prayed for dissolution of the company, named, M/s. M. Ravji Oil Industries Limited (In Liquidation), which was ordered to be wound up vide order dated 23.03.2000 passed in Company Petition No. 159 of 1998.

3. The report further indicates that, pursuant to the winding up order, the Official Liquidator deputed his officials at the office of Registrar of Companies, Gujarat, Ahmedabad to inspect the records of the said company maintained by the office of the Registrar of Companies, Gujarat to find out the assets and properties, liabilities, address of Registered Office, factory premises, secured creditors, debtors and names and addresses of ex-directors of the company.

4. That, while taking inspection of the records of the Registrar of Companies, Gujarat, the representative of the Official Liquidator compiled the details of the said company, as under :-

List of Secured Creditors

5. The report also indicates that in compliance of winding up order, the Official Liquidator vide letter dated 05.05.2000, addressed to all Ex-Directors of the company requested them to remain present at the factory premises and other assets of the company to handover possession of the assets of the company. A copy of the letter dated 05.05.2000 was endorsed to the Secured Creditors and Petitioning Creditor with the request to depute their representative at the factory premises to assist the Officials of the Official Liquidator.

6. The report also indicates that in compliance of the winding up order, the Official Liquidator had taken possession of company’s Factory premises situated at 1424, Kalol Mehsana Highway, Village Rajpur, Dist. Mehsana but could not take possession of company’s registered office situated at 588, Ghee Bazar, Kalupur, Ahmedabad since the said premises was not belonging to company’s in liquidation.

7. The report also indicates that after taking possession, the Official Liquidator filed compliance report being OLR No.63 of 2000 wherein praying various direction including constitution of sale committee for sale of assets and properties of the company in liquidation. This Hon’ble Court had vide order dated 18.04.2002 passed in OLR No.63 of 2000 was pleased to constitute sale committee for sale of assets and properties of the company in liquidation and also be pleased to permit the Official Liquidator to appoint Panel Valuer to carry out Valuation of factory premises of the company in liquidation.

8. The report also indicates that due to non-filing of Statement of Affairs under Section 454 of the Companies Act, 1956, the Official Liquidator filed Criminal Case bei