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IN THE HIGH COURT OF KARNATAKA AT BENGALURU
DATED THIS THE 20TH DAY OF APRIL, 2017
BEFORE
THE HON’BLE MR. JUSTICE RAGHVENDRA S. CHAUHAN
OLR NO.16/2016 BETWEEN:
OFFICIAL LIQUIDATOR ATTACHED TO THE HON’BLE HIGH COURT OF KARNATAKA, CORPORATE BHAVAN, NO.26-27, 12TH FLOOR, M. G. ROAD, BENGALURU-560001.
…PETITIONER
(BY SRI K. S. MAHADEVAN, & SRI V. JAYARAM, ADVS. FOR OFFICIAL LIQUIDATOR)
AND:
NIL
... RESPONDENT
THIS OLR IS FILED UNDER SECTION 497(6) OF THE COMPANIES ACT, 1956, PRAYING THAT M/s. MYITGROUP (INDIA) PRIVATE LIMITED (IN MEMBER’S VOLUNTARY WINDING UP) MAY KINDLY BE ORDERED TO BE DISSOLVED FROM THE DATE OF SUBMISSION OF THIS REPORT.
THIS OLR IS COMING ON FOR ORDERS, THIS DAY, THE COURT MADE THE FOLLOWING:
O R D E R
The present OLR, namely OLR No.16/2016 has been filed by the learned Official Liquidator (“the learned OL", for short),
for seeking direction from this Court to dissolve M/s. MYITGROUP India Private Limited (in Member’s Voluntary Winding Up).
Briefly the facts of the case are that the said Company was incorporated with the Registrar of Companies, Bengaluru on 15.09.2004, bearing Corporate Identity Number U72200KA2004PTC034688 with the authorized capital of Rs.2,00,00,000/-, and paid up capital of Rs.1,90,00,000/-, having registered office at Flat No.303, No.21, Jeevanahalli Main Road, MEG Officers Colony, Bengaluru- 560 033.
According to the Official liquidator, the Company has filed Form No.149 on 07.03.2012 with the Registrar of Companies i.e., declaration of solvency embodying a statement of assets and liability pursuant to Section 488 of the Companies Act, 1956. M/s. PYS & Co., (formerly known as SPC & Co.) were appointed as Voluntary Liquidator of the Company. The statement of accounts i.e., Form No.156, showing how the winding up has been conducted and the property of the company has been disposed and the return of final winding up pursuant to Section 497 of the Companies
Act, 1957, i.e., Form No.157 was filed with the Registrar of Companies on 08.08.2016.
According to the learned Official Liquidator, during the course of winding up, the net realisation amount was Rs.2,46,72,951/-, and out of the realized amount Rs.2,07,83,004/- was paid to the creditors, and the balance amount of Rs.8,68,94,096.44 was returned to the contributories. On verification of documents submitted by the Liquidator, it was noticed that the Income Tax Officer, Ward No.11 (1), Bangalore, vide letter dated 17.07.2014, stated that there are no arrears of tax outstanding in the case of company in Member’s Voluntary Winding Up.
The learned Official Liquidator further states that the Liquidator appointed by the Company has completed all the formalities in winding up the affairs of the Company and has filed all necessary statutory return pertaining to member’s voluntary winding up, with the office of Registrar of Companies and the affairs of the company have not been conducted in a manner prejudicial to the interest of the members/creditors or public interest and the company is liable to be dissolved.
Therefore, there is no impediment for this Court to accept the report and order for dissolution of the Company.
Considering the facts narrated above, this Court directs M/s.Decho Technology India Private Limited (in Member’s Voluntary Winding Up) shall stand dissolved forthwith. The learned Official Liquidator is directed to produce a copy of this order with the Registrar of Companies within thirty days from the date of receipt of certified copy of this order.
Sd/-
JUDGE Np/-