O R D E R

% 27.08.2024 CO.APPL. 742/2024 (The OL seeking permission to invite claims)

1. The instant application under Rule 9 of the Companies (Court) Rules, 1959 has been filed on behalf of the Official Liquidator (hereinafter referred to as “OL”) seeking the following reliefs:-

“i) Application on behalf of the Official Liquidator may kindly be taken on record;

ii) Official Liquidator may kindly be permitted to invite claims from the creditors of the Company (in Liqn.) by publishing the notice in the newspapers namely "Times of India" (English)

and "Dainik Jagran" (Hindi), Delhi edition;

iii) Official Liquidator may be permitted to bear expenses for the company's fund.

iv) The Official Liquidator may further be appointed as the Liquidator;

v) The Official Liquidator may be exempted from carrying out the publication of the citation of the final winding up;

vi) Such other order(s) be passed as this Hon'ble Court may deem fit and proper.”

2. Learned counsel appearing on behalf of the applicant/OL submitted that upon appointment as Provisional Liquidator, he obtained the company's master details from the website of the Registrar of Companies (ROC). As per records of the ROC, the registered office of the Company is situated at A-42, Wazirpur Industrial Area, Delhi -110052. It is further submitted that as per records, the Directors of the Company (In Liquidation) and details with respect to the statement under Rule 130 of the Companies (Court) Rules, 1959 and Statement of Affairs under Section 454 of the Companies Act, 1956, are mentioned in paragraph No.3 of the instant application.

3. Learned counsel appearing on behalf of the applicant/OL submitted that vide order dated 29th August, 2014, the Predecessor Bench of this Court had appointed a Chartered Accountant to scrutinize and inspect the records of the Company in question. It is submitted that in compliance with the aforesaid order, the Chartered Accountant had submitted its report on 17th September, 2016. As per the said report, the Ex-Directors of the Company (in Prov. Liquidation) have committed various violations of the Companies Act, 1956 during their respective tenures and also carried out business of the Company (in Prov. Liquidation) with intent to defraud the creditors of the Company, which tantamount to misfeasance, misappropriation of funds and breach of trust in relation to company (in Prov. Liquidation).

4. Learned counsel appearing on behalf of the applicant/OL submitted that on the basis of the report/observations of the Chartered Accountant, the OL has filed applications bearing CA.No. 522 and 523/2017 against the Ex- Directors of the Company (in Prov. Liquidation) for misfeasance, misappropriation of funds and breach of trust in relation to Company (in Prov. Liquidation) during their respective tenure. It is further submitted that though the said Company has been in liquidation since the year 2012, however claims from the creditors had not been invited till date. Hence, it is prayed that the OL may be permitted to invite claims from the creditors of the Company (in Prov. Liquidation) by publishing the notice in the newspapers namely "Times of India" (English) and "Dainik Jagran" (Hindi), Delhi edition. Also, the OL may be permitted to bear expenses for the said purpose by taking a temporary loan form Common Pool Fund subject to adjustment. It is further prayed that the OL may be appointed as the Liquidator.

5. Heard learned Standing Counsel appearing on behalf of the OL and perused the contents of the application.

6. In view of the above facts and circumstances, this Court is inclined to allow the instant application. Accordingly, the OL is permitted to invite claims from the creditors of the Company (in Prov. Liquidation) by publishing the notice in the newspapers namely "Times of India" (English) and "Dainik Jagran" (Hindi), Delhi edition, within four weeks. It is further permitted that the OL shall bear the expenses for the company's fund. Qua prayer (iv) of the instant