ORAL ORDER

1. By this report under section 481 of the Companies Act, 1956, the official Liquidator has prayed for dissolution of the company, named, B Zaveri Jewels Private Limited(in Liquidation), on 30.04.202 this Hon’ble court passed an order in Company Petition no. 202 of 2011 and appointed Official Liquidator as the Provisional Liquidator of the said company with directions to take charge of the assets of the company.

2. The report indicates that consequent upon winding up order passed by this Hon’ble Court, the Official Liquidator deputed his Official 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, and names and addresses of the Directors, as on the date of winding-up order.

3. The Official Liquidator, on being appointed, has caused search before the office of the Registrar of Companies, wherein it was revealed that the registered office was situated at L/7, Swagat Complex, Swagat Char Rasta, C. G. Road, Ahmedabad - 380 006 and Mr. Arunbhai A Soni and Mrs. Kalpnaben A Soni were Ex-Directors of the company. Records indicates that that there was only onr secure creditor of the company HDFC Bank Ltd. Lower parel (W)

Mumbai Branch. as per the ROC records.

4. It appears that the company was incorporated in the year 2008 and petition for winding-up of the company was filed in the year 2011. Upon the said petition provisional winding-up order was passed in the year 2012. The possession of only property of the Company under liquidation was taken over by the Secure Creditor HDFC Bank under the provisions of the SARFESI Act and sold the only property of the Company under liquidation under the provisions of the SARFESI Act. It also appears that Ex Directors has filed Statement of Affairs on 18.07.2012 and last audited balance sheet of the Company under liquidation. Thereafter on 05.03.2014 final winding up order was passed in the Company petition 202 of 2011 Official Liquidator was appointed as Liquidator of the company.

5. The Official Liquidator has also stated that there are no funds available in the Company’s Bank Account. It is further stated in the report that there was no claim is pending with the Official Liquidator for the company in liquidation. It is also stated by the Official Liquidator that no information/details of the company are available except as provided in the preceding paragraphs of the report and therefore the Official Liquidator proposes dissolution of the company.

6. The Official Liquidator, relying upon the provisions of Section 481 of the Act, has contended that it is not possible to proceed with the winding up for want of fund and assets. Relying upon the judgment of the Hon'ble Apex Court in the case of Meghal Homes Pvt. Ltd. Vs. Shree Niwas Girni K.K. Samiti, reported in (2007) 7 SCC 753, it is contended by the Official Liquidator that this Court may pass appropriate order of dissolution of the Company in liquidation.

7. It is also stated by the Official Liquidator that prior to dissolution of the company, the Official Liquidator vide letter dated 04.09.2020 addressed to the Ex-Directors and secured creditor of the company informed that the Official Liquidator proposes to dissolve the said company and if they are having any objection. Official Liquidator had issued letter to the Income tax department, ROC and all secured creditors of the company on 03.09.2020 for furnishing no objection in dissolution of the Company. In this connection the Official Liquidator most respectfully submits that ROC vide its letter dated16.102020 informed that they are having no objection if the company is dissolved by the Hon’ble High Court of Gujarat. It was also indicates that in response of the letter, the Official Liquidator has received only e-mail dated 18.09.2020 from Income Tax Department