What did the High Court hold?

The High Court accepted the voluntary winding-up report and ordered the dissolution of the company. The Company Application and the Official Liquidator's Report were disposed of accordingly.

Hydro Control Private Limited, in voluntary liquidation, filed an application to take on record its voluntary winding-up report. The Official Liquidator confirmed no objections were received from any department.

What were the issues?

Whether the voluntary winding-up report of the company is in order and if the company can be dissolved.

Hydro Control Private Limited vs Official Liquidator | Karnataka High Court 2015

1 IN THE HIGH COURT OF KARNATAKA, BENGALURU

DATED THIS THE 23RD DAY OF JANUARY, 2015

BEFORE

THE HON' BLE MRS JUSTICE B.V.NAGARATHNA

COMPANY APPLICATION NO.1636/2014 IN COMPANY PETITION NO.211/2010

BETWEEN:

HYDRO CONTROL PRIVATE LIMITED (IN MEMBER’S VOLUNTARY LIQUIDATION) REPTD. BY ITS LIQUIDATOR MR.SAJI P JOHN, REGD. OFFICE AT 49/B, 2ND PHASE, 3RD MAIN, PEENYA INDUSTRIAL AREA, BANGALORE – 560 058. ..APPLICANT (BY SHRI. SAJI P. JOHN, ADVOCATE)

AND:

OFFICIAL LIQUIDATOR, ATTACHED TO THE HON’BLE HIGH COURT OF KARNATAKA, CORPORATE BHAVAN, NO.26-27, 12TH FLOOR, RAHEJA TOWERS, M.G. ROAD, BANGALORE – 560 001. .. RESPONDENT

(BY SHRI.K.S.MAHADEVAN & V. JAYARAM FOR O.L)

***** THIS COMPANY APPLICATION IS FILED UNDER SECTION 497 OF THE COMPANIES ACT, 1956 PRAYING TO TAKE ON RECORD THE VOLUNTARY WINDING- UP REPORT ETC.

THIS COMPANY APPLICATION COMING ON FOR ORDERS THIS DAY, THE COURT MADE THE FOLLOWING:-

ORDER

This company application is filed under Section 497 of the Companies Act, 1956, praying to take on record the voluntary winding-up report and for other reliefs.

I have heard learned counsel for Official Liquidator as well as learned counsel Sri. Saji P. John who was appointed as the voluntary liquidator and perused the material on record. Sri. Saji P. John, learned counsel, has filed an affidavit enclosing the voluntary winding up report. The same is taken on record.

Mr. Saji P. John, learned counsel, was appointed as the Voluntary Liquidator of the company and he has delivered to the Registrar of Companies, Bangalore, a notice of appointment as prescribed. The statement of accounts in Form No. 156, indicating the manner in which the voluntary winding up has been conducted and the property of the company has been disposed of, has also

3 been filed. The net realization in the course of voluntary winding up has been enclosed to the application.

Official Liquidator has filed O.L.R. 4/2015 stating that the company in question may be ordered to be dissolved from the date of submission of the O.L.R. i.e. 12.1.2015.

Official Liquidator states that he has sought for clarification to the Ministry of Corporate Affairs and the Income Tax Department and has further stated that he has not received any objection or due/demand with respect to dissolution of the Company.

I have heard learned counsel for Official Liquidator as well as learned counsel, who was appointed as the voluntary liquidator and perused the material on record.

O.L.R. 4/2015 is taken on record and same is ordered and disposed.

4 8. Since no objection has been raised, it is stated in the Report that there appears to be no objection in that regard. The voluntary Liquidator is stated to have carried out all proceedings for voluntary winding up of the affairs of the company. Having taken note of the averments and the documents enclosed along with the application and Report, the same is accepted. In the circumstances, the company in question (M/s. Hydro Control Private Limited) is ordered to be dissolved w.e.f. 12.1.2015.

Accordingly, Company Application No. 1636/2014 and O.L.R.4/2015 stands disposed.

10.

In the circumstance, Company Petition No.211/2010 is also disposed in the aforesaid terms.

Sd/- JUDGE

Msu

HYDRO CONTROL PRIVATE LIMITED vs. OFFICIAL LIQUIDATOR

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