The Court may recall a company's dissolution order and declare it void, even beyond the statutory two-year limit under Section 559 of the Companies Act, 1956, if assets are discovered later, to ensure the interests of justice and prevent loss of company property.

ORAL ORDER

[1] The present report of the Official Liquidator is filed seeking following orders and directions of this Court:

“17 (a) That, this Hon'ble Court may be pleased to condone the delay, if any, in filing of the present report under the provisions of Section 559 of the Companies Act, 1956; and

(b) This, Hon'ble Court may be pleased to recall the order dated 21.10.2019 passed by this Hon'ble Court in Official Liquidator's Report No. 147 of 2019 and restore the Official Liquidator attached to this Hon'ble Court as Official Liquidator of Anik Shipbreaking Industries Ltd., and

(c) This Hon'ble Court may be pleased to permit the Official Liquidator to take possession of the land admeasuring about 10,117 sq. mtrs situated at Survey No. 103/104/105 of Village Ghangli, Tal. Sihor, Dist Bhavnagar, and deploy security agency, if required, to safe-guard the land of the company, and

(d) This Hon'ble Court may be pleased to permit the Official Liquidator to avail the services of the Government Approved Valuer to obtain the valuation of the land of the company, and

(e) This, Hon'ble Court may be pleased to constitute a sale committee under the Chairmanship of the Official Liquidator and State Barnk of India, Alkapur Br. Ahmedabad as member of the sale committee for disposal of the land of the company, and

(f) For such other and further orders and directions as this Hon'ble Court may consider just and appropriate in the matter, may also be passed.”

[2] Ms. Bhoomi Thakore, Advocate submitted that the facts of the Official Liquidator's Report No. 71 of 2025 is as under:

[2.1] By an order dated 19.03.2002 passed by this Court in Company Petition No. 338 of 1997, Anik Shipbreaking Industries Ltd. was ordered to be wound-up and the Official Liquidator was appointed as Official Liquidator of the said company.

[2.2] The Possession of the asset situated at (i) 781, Bodiwala Makan, Mama Kotha Road, Bhavnagar, (ii) V-3, Sosiya Ship Breaking Yard. Tal. Talaja, Dist. Bhavnagar and (iii) 301/302, Panchshil, 72, Sampatrao Colony, Productivity Road, Vadodara were taken over by the Official Liquidator.

[2.3] However, in terms of orders dated 26.03.2003 passed in Company Application No. 212 of 2003, the possession of the properties situated at 781, Bodiwala Makan, Mama Kotha Road, Bhavnagar and 301/302, Panchshil, 72, Sampatrao Colony, Productivity Road, Vadodara were handed over to Meeti Investment & Consultancy Services Pvt. Ltd.

[2.4] Similarly, it appears that the possession of the property situated at V-3, Sosiya Ship Breaking Yard, Tal. Talaja, Dist. Bhavnagar was handed over to Gujarat Maritime Board in terms of order dated 21.02.2003 passed in Company Application No. 409 of 2002.

[2.5] There being no assets of the company left in the hand of the Official Liquidator to liquidate the same, the Official Liquidator proposed action under Section 481 of the Companies Act, 1956 for dissolution of the said company.

[2.6] Before initiating steps for dissolution of the company, the Official Liquidator had issued letters to the Ex-Directors and Secured Creditors of the company requiring them to offer their comments on action proposed by the Official Liquidator for dissolution of the company

[2.7] No objection was received from the stakeholders, Official Liquidator's Report No. 147 of 2019 was filed seeking dissolution of the said company.

[2.8] This Court by order dated 21.10.2019 allowed the Official Liquidator's Report No. 147 of 2019. Anik Shipbreaking Industries Ltd. was dissol