THE HONOURABLE SRI JUSTICE K. LAKSHMAN

COMPANY APPLICATION No. 314 of 2025

in

C.P.No.210 of 1998

ORDER:

Heard Sri J.Sreenadh Reddy, learned counsel for the

Official Liquidator.

2. This application is filed under Sections 481, 550, and 555 of the Companies Act, 1956, read with Rules 9, 281, and 282 of the Companies (Court) Rules, 1959, for the dissolution of the

company (In Liqn.).

3. The Official Liquidator has specifically mentioned the

affairs of the company.

4. By an order dated 04.11.1999 in Company Petition No. 210 of 1998, this Court ordered the winding up of the company. The Official Liquidator called for the statement of affairs from

the ex-directors of the Company (In Liqn.).

5. As per the Statement of Affairs submitted by the ex-directors of the Company (In Liqn.) to the Official Liquidator, in List-B, Assets Specifically Pledged and Creditors Fully or Partly Secured, APSFC and APIDC were shown as secured creditors. The ex-directors stated that the unit was seized by APSFC and APIDC in the year 1994 and sold in 1997

for approximately Rs. 2.45 crores. With regard to Preferential Creditors for Rates, Taxes, Salaries, and Wages mentioned in List-C, the amount was shown as Nil.

6. It is f