Karnataka High Court
Mr M Raghunath Chowdhary vs M/S. Mysore Tools Pvt. Ltd., (In ... on 27 September, 2018
1/20
IN THE HIGH COURT OF KARNATAKA, BENGALURU
DATED THIS THE 27TH DAY OF SEPTEMBER 2018
BEFORE
THE HON'BLE Dr.JUSTICE VINEET KOTHARI
C.A.No.245/2018
C/W
C.A.No.135/2017, 382/2017, 278/2018, 54/2018
in Co.P.No.3/1975
IN C.A.NO.245/2018
BETWEEN:
1. MR. M. RAGHUNATH CHOWDHARY
AGED ABOUT 44 YEARS
S/O M. VENKATESHWARA RAO
WARD No.01, 17TH CROSS, TALUR ROAD
OPP: GOVINDAPPA KALYANA MANTAPA
RENUKA NAGAR, BELLARY, KARNATAKA-583 101.
2. SMT. A. LAKSHMI DEVI
AGED ABOUT 34 YEARS
W/O A.V.V.S.S. ACHYUTH RAMA RAO
VIDYANAGAR, 3RD CROSS
OPP: NAVAJEEVAN CONVENT
BELLARY-583104.
... APPLICANTS
(BY SRI. M. MANOHAR, ADV., - ABSENT)
AND:
M/S. MYSORE TOOLS PVT. LTD., (IN LIQUIDATION)
REPRESENTED BY OFFICIAL LIQUIDATOR
HIGH COURT OF KARNATAKA,
12TH FLOOR, RAHEJA TOWERS
M.G. ROAD, BENGALURU-560 001.
... RESPONDENT
(BY SMT. LAKSHMY IYENGAR, ADV.,)
Date of Order 27-09-2018 C.A.No.245/2018
and connected matters in COP No.3/1975
Mr. M. Raghunath Chowdhary & Ors. Vs.
M/s Mysore Tools Pvt. Ltd., (in liquidation)
2/20
THIS C.A. IS FILED UNDER SECTION 446 OF THE
COMPANIES ACT, READ WITH RULES 6 & 9 OF THE
COMPANIES (COURT) RULES, PRAYING TO GRANT PERMISSION
TO THE APPLICANTS TO MOVE A SCHEME OF ARRANGEMENT
BEFORE THIS HON'BLE COURT ALONG WITH THE SHARE
HOLDERS FOR ITS KIND CONSIDERATION AND APPROVAL IN
THE INTEREST OF JUSTICE AND EQUITY AND PASS SUCH
OTHER ORDER AS MAY BE NECESSARY.
IN C.A.NO.135/2017
BETWEEN:
MR. KRISHNAMURTHY
S/O LATE. MARISWAMY GOWDA
AGED ABOUT 48 YEARS
#25, 3RD MAIN, 5TH CROSS
DOLLARS COLONY, BENGALURU-5`60 076.
... APPLICANT
(BY SRI. THOMAS V. PETER, ADV., )
AND:
M/S. MYSORE TOOLS PVT. LTD., (IN LIQUIDATION)
REPRESENTED BY OFFICIAL LIQUIDATOR
HIGH COURT OF KARNATAKA,
12TH FLOOR, RAHEJA TOWERS
M.G. ROAD, BENGALURU-560 001.
... RESPONDENT
(BY SMT. LAKSHMY IYENGAR, ADV.,)
THIS C.A. IS FILED UNDER SECTION 446 OF THE
COMPANIES ACT, READ WITH RULES 6 & 9 OF THE
COMPANIES (COURT) RULES, PRAYING TO GRANT PERMISSION
TO THE APPLICANT TO MOVE A SCHEME OF ARRANGEMENT
BEFORE THIS HON'BLE COURT FOR ITS KIND CONSIDERATION
AND APPROVAL IN THE INTEREST OF JUSTICE AND EQUITY
AND PASS SUCH OTHER ORDER AS MAY BE NECESSARY.
Date of Order 27-09-2018 C.A.No.245/2018
and connected matters in COP No.3/1975
Mr. M. Raghunath Chowdhary & Ors. Vs.
M/s Mysore Tools Pvt. Ltd., (in liquidation)
3/20
IN C.A.NO.382/2017
BETWEEN:
S.K. JOHN
S/O T.T. JOHN
AGED 46 YEARS
DOOR No.6, 3RD CROSS
CAR STREET, ULSOOR
BENGALURU-560 008.
... APPLICANT
(BY SMT. SHASHIKALA K.C., ADV., - ABSENT)
AND:
M/S. MYSORE TOOLS PVT. LTD., (IN LIQUIDATION)
REPRESENTED BY OFFICIAL LIQUIDATOR
HIGH COURT OF KARNATAKA,
12TH FLOOR, RAHEJA TOWERS
M.G. ROAD, BENGALURU-560 001.
... RESPONDENT
(BY SMT. LAKSHMY IYENGAR, ADV.,)
THIS C.A. IS FILED UNDER SECTION 446 OF THE
COMPANIES ACT, READ WITH RULES 6 & 9 OF THE
COMPANIES (COURT) RULES, PRAYING TO GRANT PERMISSION
TO THE APPLICANT TO MOVE A SCHEME FOR AN
ARRANGEMENT BEFORE THIS HON'BLE COURT FOR ITS KIND
CONSIDERATION AND APPROVAL IN THE APPLICANT'S NAME
OR HIS NOMINEE INTEREST OF JUSTICE AND EQUITY AND
PASS SUCH OTHER ORDER AS MAY BE NECESSARY.
IN C.A.NO.278/2018
BETWEEN:
S.K. JOHN
S/O T.T. JOHN
AGED ABOUT 47 YEARS
R/O DOOR No.6, 3RD CROSS
CAR STREET, ULSOOR
BENGALURU-560 008.
... APPLICANT
(BY SRI. RAKESH BHATT ADV., )
Date of Order 27-09-2018 C.A.No.245/2018
and connected matters in COP No.3/1975
Mr. M. Raghunath Chowdhary & Ors. Vs.
M/s Mysore Tools Pvt. Ltd., (in liquidation)
4/20
AND:
M/S. MYSORE TOOLS PVT. LTD., (IN LIQUIDATION)
REPRESENTED BY OFFICIAL LIQUIDATOR
HIGH COURT OF KARNATAKA,
12TH FLOOR, RAHEJA TOWERS
M.G. ROAD, BENGALURU-560 001.
... RESPONDENT
(BY SMT. LAKSHMY IYENGAR, ADV.,)
THIS C.A. IS FILED UNDER SECTION 446 OF THE
COMPANIES ACT, 1956 READ WITH RULE 9 OF THE
COMPANIES (COURT) RULES, 1959 PRAYING TO STAY ALL THE
PROCEEDINGS RELATING TO WINDING UP OF THE
RESPONDENT COMPANY PENDING DISPOSAL OF THE
PROCEEDINGS IN APPLICATION No.CA (CAA) No.39/BB/2018
FILED BEFORE THE NCLT UNDER SECTION 230 OF THE
COMPANIES ACT 2013 PERTAINING TO THE REVIVAL OF THE
RESPONDENT COMPANY AND GRANT SUCH OTHER FURTHER
RELIEFS AS ARE JUST.
IN C.A.NO.54/2018
BETWEEN:
OFFICIAL LIQUIDATOR OF
M/S. MYSORE TOOLS LTD., (IN LIQN.)
HIGH COURT OF KARNATAKA
"CORPORATE BHAVAN"
No.26-27, 12TH FLOOR, RAHEJA TOWERS
M.G. ROAD, BENGALURU-560 001.
... APPLICANT
(BY SMT. LAKSHMY IYENGAR, ADV.,)
AND:
NIL
... RESPONDENT
THIS C.A. IS FILED UNDER SECTION 481 OF THE
COMPANIES ACT, 1956 READ WITH RULES 6 & 9 OF THE
COMPANIES (COURT) RULES, 1959 PRAYING TO a) DIRECT
Date of Order 27-09-2018 C.A.No.245/2018
and connected matters in COP No.3/1975
Mr. M. Raghunath Chowdhary & Ors. Vs.
M/s Mysore Tools Pvt. Ltd., (in liquidation)
5/20
THAT M/S. MYSORE TOOLS LTD., SHALL STAND DISSOLVE
UNDER SECTION 481(1) OF THE COMPANIES ACT, 1956 AND b)
PASS SUCH OTHER ORDER OR ORDERS AS MAY BE DEEMED
FIT AND PROPER IN THE CIRCUMSTANCES OF THE CASE.
THESE C.As. COMING ON FOR ORDERS THIS DAY, THE
COURT MADE THE FOLLOWING:-
ORDER
Mrs. Lakshmy Iyengar, Adv. for Official Liquidator Mr. Thomas V. Peter and Mr. Rakesh Bhatt, Advs. for Applicants The Official Liquidator filed CA No.54/2018 in COP No.3/1975 in this Court on 14.02.2018 seeking dissolution of the company in liquidation namely M/s Mysore Tools Ltd.
2. The Official Liquidator has reported to the Court that the assets of the company in the form of land was acquired wayback in the year 2005 by the Karnataka Industrial Areas Development Board (KIADB) and the sum of Rs.6,27,73,272/- by way of compensation was deposited with the Official Liquidator in view of land acquired by the KIADB on 10.03.2005 in Date of Order 27-09-2018 C.A.No.245/2018 and connected matters in COP No.3/1975 Mr. M. Raghunath Chowdhary & Ors. Vs. M/s Mysore Tools Pvt. Ltd., (in liquidation) 6/20 compliance of the Court order dated 10.03.2005 passed in CA No.1187/2002.
3. After paying the only secured creditor of the company namely State Bank of Mysore at 100% of its dues at Rs.3,14,61,026/-, the balance amount was paid off to equity shareholders/contributories as per settled list vide OLR No.34/2008 and a sum of Rs.3,39,00,000/- was paid to the equity shareholders at the rate of more than 100% of the face value of the equity shares. Under the OLR No.34/2008, which came to be allowed by this Court on 07.02.2008, the unclaimed capital was transferred to Public Account of India vide Challan No.29/2009-1010.
4. The relevant extract of the *CA No.54/2018 filed by the Official Liquidator on 14.02.2018 in para Nos.6 to 12 are quoted below for ready reference:-
"6. That the Official Liquidator had filed report bearing OLR No.41/1993 seeking sanction * Corrected vide Chamber Order dated 27/10/2018.
Date of Order 27-09-2018 C.A.No.245/2018 and connected matters in COP No.3/1975 Mr. M. Raghunath Chowdhary & Ors. Vs. M/s Mysore Tools Pvt. Ltd., (in liquidation) 7/20 for sale of the aforementioned land which was objected by M/s. KIADB in view of the acquisition proceedings initiated by them. Considering the fact that acquisition proceedings initiated by the land acquisition officer are Quasi-judicial proceeding and do not stand excluded form the purview of Section 456 of the Companies Act, 1956 and thereby KIADB was permitted to acquire the land and OLR No.41/1993 was disposed of accordingly vide order dated 10.09.1993. A copy of order dated 10.09.1993 passed in OLR No.41/1993 is attached herewith and marked as Annexure-"B" for the kind perusal of this Hon'ble Court.
7. That upon completion of acquisition proceeding, KIADB awarded compensation for a sum of Rs.6,27,73,272/- and deposited the same with the Official Liquidator on 10.03.05 in compliance to the order dated 10.03.2005 passed in C.A.No.1187/2002. A copy of order dated 10.03.2005 passed in C.A.No.1187/2002 is enclosed herewith and marked as Annexure-"C".
8. That pursuant to the order dated 13.11.2006 passed in OLR No.144/06, the claim of the State Bank of Mysore, the only Secured Creditor of the Company in liquidation was settled in full i.e., @ 100% for a sum of Date of Order 27-09-2018 C.A.No.245/2018 and connected matters in COP No.3/1975 Mr. M. Raghunath Chowdhary & Ors. Vs. M/s Mysore Tools Pvt. Ltd., (in liquidation) 8/20 Rs.3,14,61,026/-. A copy of order dated 13.11.2006 passed in OLR No.144/06 is enclosed herewith and marked as Annexure-
"D".
9. That vide OLR No.34/2008, the Official Liquidator had filed the settled list of contributories before the Hon'ble Court and prayed for sanction to redeem the preferential share for a total sum of Rs.17,35,000/- and also for return of capital to the equity shareholders for a total sum of Rs.3,39,00,000/-. The said OLR was allowed vide order dated 07.02.2008. The Official Liquidator had paid the return of capital to equity shareholders and redeemed the preferential shares. The unclaimed capital was transferred to the Public Account of India vide challan No.29/2009-2010 dated 30.04.2009. A copy of order dated 07.02.2008 and Challan dated 30.04.2009 are enclosed herewith and marked as Annexure-"E & F" respectively.
10. That upon payment of dividend to the sole secured creditor i.e., State Bank of Mysore, redemption of preferential share and return of capital to the equity shareholders no fund is available to the credit of the company in liquidation and no further assets are also pending for realisation. A statement of Income and Date of Order 27-09-2018 C.A.No.245/2018 and connected matters in COP No.3/1975 Mr. M. Raghunath Chowdhary & Ors. Vs. M/s Mysore Tools Pvt. Ltd., (in liquidation) 9/20 Expenditure with effect from October 2005 is enclosed herewith and marked as Annexure:-
"G".
11. That the winding up petition is pending for last 43 years. From the available records and information it appears that except two company applications bearing CA No.135 of 2017 and C.A. No.382 of 2017 for revival of the company, no other cases are pending against the company in liquidation in any court of law and other forum and also no further assets are pending for realisation. There is no scope of revival since the return of capital to the equity shareholders is already effected and thereby the right of such equity shareholders are extinguished. In view of extinguish right, no resolution can even be passed by the shareholders for any scheme of revival. The instant Company Application may be heard along with C.A. No.135 of 2017 and C.A. No.382 of 2017.
12. That the Official Liquidator has done all that he can to wind up the affairs of the company in liquidation, he has realized the assts as far as he can and has discharged all the liabilities towards creditors and shareholders as he was aware of them. It may be just and Date of Order 27-09-2018 C.A.No.245/2018 and connected matters in COP No.3/1975 Mr. M. Raghunath Chowdhary & Ors. Vs. M/s Mysore Tools Pvt. Ltd., (in liquidation) 10/20 reasonable to dissolve the company under section 481 of the Companies Act, 1956.
In view of the above the Official Liquidator respectfully prays that this Hon'ble Court may kindly be pleased to:-
a) Direct that M/s. Mysore Tools Ltd, shall stand dissolve under section 481(1) of the Companies Act, 1956.
and
b) Pass such other order or orders as may be deemed fit and proper in the circumstances of the case."
5. The company in question which was ordered to be wound up on 20.07.1982 in Company Petition No.3/1975 has remained in the winding up process for 45 years and process of winding up has been completed in the aforesaid manner by the Official Liquidator.
6. Before ordering dissolution of the aforesaid company in question, this Court has to deal with certain other Company Applications filed by the Date of Order 27-09-2018 C.A.No.245/2018 and connected matters in COP No.3/1975 Mr. M. Raghunath Chowdhary & Ors. Vs. M/s Mysore Tools Pvt. Ltd., (in liquidation) 11/20 shareholders/promoters of the company in this Court in this Company Petition No.3/1975.
7. Four such company applications are before this Court today on the board. First CA No.135/2017 in COP No.3/1975 filed by one Mr. Krishnamurthy represented by Mr. Thomas V. Peter, learned Advocate and other two namely CA No.278/2018 filed by Mr. S.K. John through Mr. Rakesh Bhatt, Advocate on 27.09.2018 and CA No.382/2017 filed by the same person Mr. S.K. John through Smt. Shashikala K.C. on 15.11.2017. These applicants claiming to be the ex- shareholders/promoters/directors of the company have approached this Court by way of these applications purportedly seeking leave to file some kind of Scheme or Arrangement for revival of the company. Except making a bald prayer in the company applications as aforesaid seeking leave of this Court to move a Scheme of Arrangement before this Court, no other Draft Scheme Date of Order 27-09-2018 C.A.No.245/2018 and connected matters in COP No.3/1975 Mr. M. Raghunath Chowdhary & Ors. Vs. M/s Mysore Tools Pvt. Ltd., (in liquidation) 12/20 or concrete steps including any Deposit of some Earnest money to show their bonafides has been taken by the applicants.
8. The learned Official Liquidator brought to the notice of this Court in CA No.135/2017 the details of about 15 such company applications filed mostly by the same Advocate Mr. Thomas V. Peter from the year 2007 namely CA No.370/2007 uptill now on regular basis which came to be either withdrawn or disposed of or dismissed by the Company Judge. Thus, only CA No.135/2017 filed by Mr. Krishnamurthy, S/o late Mariswamy Gowda and CA No.382/2017 filed by Mr. S.K. John, S/o T.T. John remained pending which are being disposed of today. The third CA No.278/2017 is also pending in this Court. The details of such earlier Company Applications for same purpose already dismissed are as follows:-
Date of Order 27-09-2018 C.A.No.245/2018 and connected matters in COP No.3/1975 Mr. M. Raghunath Chowdhary & Ors. Vs. M/s Mysore Tools Pvt. Ltd., (in liquidation) 13/20 Date of C.A.No. Petitioner Purpose of Counsel Judgment filing 24-Aug-07 CA 370/2007 M/S KALARAJINI Seeking THOMOS permission to PETER Adv.
file a scheme of
Arrangement
17-Dec-08 CA 849/2008 SHAJI K JOHN To release the BV
share amount CONTRACTOR
28-Jul-15 CA 12/2015 AFNAN Seeking THOMOS
ENTERPRISES permission to PETER Adv.
file a scheme of
Arrangement
01-Jun-17 CA 654/2016 M/S RUSHE Seeking THOMOS
INFRATEK PVT LTD permission to PETER Adv.
file a scheme of
Arrangement
01-Jun-17 CA 666/2016 THOMAS ABRAHAM Seeking THOMOS
permission to PETER Adv.
file a scheme of
Arrangement
10-Aug-17 CA 96/2017 MR.RAMACHANDRA Seeking THOMOS
GOWDA permission to PETER Adv.
file a scheme of
Arrangement
08-Nov-17 CA 378/2015 G. CHANDRASEKAR Seeking SUNDARAM
permission to
file a scheme of
Arrangement
08-Nov-17 CA 918/2015 MOHD TANZEEL Seeking THOMOS
PASHA permission to PETER Adv.
file a scheme of
Arrangement
06-Dec-17 CA 303/2017 MR. B.H. GANGAIAH Seeking THOMOS
permission to PETER Adv.
file a scheme of
Arrangement
07-Feb-18 CA 32/2017 SMT. A. LAKSHMI Seeking THOMOS
DEVI permission to PETER Adv.
file a scheme of
Arrangement
PENDING CA 135/2017 Krishnamurthi S/o Seeking THOMOS
Mariswami Gowda permission to PETER Adv.
file a scheme of
Arrangement
PENDING CA 382/2017 S.K. Jhon S/o T.T. Seeking Not available
JHON permission to file
a scheme of
Arrangement
Date of Order 27-09-2018 C.A.No.245/2018 and connected matters in COP No.3/1975 Mr. M. Raghunath Chowdhary & Ors. Vs. M/s Mysore Tools Pvt. Ltd., (in liquidation) 14/20 21-Mar-13 CA 114/2013 SRI. KONDAL RAO M PURCHASE THOMOS PETER Adv.
23-Jul-13 CA 1508/2013 SRI KONDAL RAO M PURCHASE THOMOS PETER Adv.
20-Nov-14 CA 1076/2013 SRI KONDAL RAO M PURCHASE SUNDARAM Adv.
9. Mr. Thomas V. Peter, learned Advocate submitted before the Court that the applicant-Mr. Krishnamurthy is suffering from some medical condition of his Brain and looking to his medical conditions, the applicant may be permitted to withdraw and not press the present C.A.No.135/2017.
10. Mr. Rakesh Bhatt, learned Advocate appearing for applicant-Mr. S.K. John also submitted that the said applicant had filed similar application before the National Company Law Tribunal, at Bengaluru (NCLT) and since NCLT did not entertain the said company application, he has moved another similar Company Application before this Court namely CA No.278/2018 filed today i.e., on 27.09.2018 and Date of Order 27-09-2018 C.A.No.245/2018 and connected matters in COP No.3/1975 Mr. M. Raghunath Chowdhary & Ors. Vs. M/s Mysore Tools Pvt. Ltd., (in liquidation) 15/20 the earlier CA No.382/2017 may be permitted to be withdrawn.
11. Learned counsel for Official Liquidator has seriously opposed these applications and has submitted before the Court that it is nothing but an abuse of process of law and when the entire winding up proceedings are over after a period of 45 years and winding up has been completed by the Official Liquidator under the provisions of the Companies Act and payment of all creditors and even dividends have been made to the equity shareholders, nothing remains in the company now done at the hands of the Company Court and therefore, to prevent the final dissolution only, such frivolous applications have been filed by these applicants.
12. Yet another Company Application is brought to the notice of this Court filed by Mr. M. Raghunath Chowhary and Smt A. Lakshmi Devi through Mr. N. Date of Order 27-09-2018 C.A.No.245/2018 and connected matters in COP No.3/1975 Mr. M. Raghunath Chowdhary & Ors. Vs. M/s Mysore Tools Pvt. Ltd., (in liquidation) 16/20 Manohar, Advocate, in CA No.245/2018, seeking similar leave of the Court. Mr. N. Manohar and Smt. Shashikala K.C. learned Advocates are not available in the Court to make their submissions. But the tenor of their Company Applications is same as aforesaid other two applications seeking leave of the Court to allow them to come up with the scheme of arrangement for the revival of the company.
13. Having heard the learned counsels, this Court is of the considered opinion that these series of Company Applications is nothing but a sheer abuse of process of law and these applications are absolutely not maintainable and these frivolous applications are filed for wasting public time and Court time. It is too late in the day for these applicants to make such applications when long ago the winding up process itself is completed by the Official Liquidator duly appointed by the Company Court. The property of the company itself was acquired by the KIADB and even compensation was Date of Order 27-09-2018 C.A.No.245/2018 and connected matters in COP No.3/1975 Mr. M. Raghunath Chowdhary & Ors. Vs. M/s Mysore Tools Pvt. Ltd., (in liquidation) 17/20 received from the KIADB and the funds so received have been distributed among the stakeholders of the said company in accordance with the provisions of the Act and remaining amount transferred to Public Fund of Government of India.
14. This Court is at loss to understand this kind of series of applications, when majority of them came to be disposed of and dismissed for lack of any bonafides on the part of such applicants. Still either the same lawyer or the different lawyer with the same tenor of applications has kept on filing such applications with obviously the lack of particulars, the draft of Scheme or any good reason for moving such application at this belated stage or any measure taken to show their bonafide in the matter.
15. Such abuse of process of law therefore deserves to be put down with the iron hands of justice. This Court is at little pain to hear the argument of Mr. Thomas V. Peter, learned Advocate that if a client Date of Order 27-09-2018 C.A.No.245/2018 and connected matters in COP No.3/1975 Mr. M. Raghunath Chowdhary & Ors. Vs. M/s Mysore Tools Pvt. Ltd., (in liquidation) 18/20 approaches the lawyer for filing such application, the lawyer is bound to file such application. Plausible but not fair enough, the Advocates appearing in the Courts, under the Advocates Act 1961, have a dual role. While they are the spokespersons for their clients but at the same time, they have a responsibility as Officers of the Court towards the Court system itself. Knowing fully well that series of these kind of applications have already been dismissed by this Court in the same case, atleast the Court could expect a semblance of responsibility from the Advocates, who kept on filing such repeated applications, one after the other.
16. It has more than two years and the various Company Courts have dealt with these applications and devoted public time on the same.
17. The Official Liquidator prays before the Court that it is needed to finally dissolve the company in question as nothing more remains to be done. The learned counsels for Applicants still press for these kind Date of Order 27-09-2018 C.A.No.245/2018 and connected matters in COP No.3/1975 Mr. M. Raghunath Chowdhary & Ors. Vs. M/s Mysore Tools Pvt. Ltd., (in liquidation) 19/20 of Applications. Therefore, this Court is left with no other option but, with sense of remorse and pain, to dismiss these Applications with exemplary costs and order that filing of such Applications is strongly discouraged and put to an end.
18. Therefore, C.A.Nos.245/2018, 135/2017, 382/2017 and 278/2018 are dismissed with cost of Rs.25,000/- on each to be paid by the applicants and deposited with the Registrar (Judicial) with this Court within two months from today. Upon deposit, the said amount will be remitted to the Prime Minister's Relief Fund. If the applicants failed to deposit the said amount, the proceeding for recovery of the same shall be initiated under the provisions of the Land Revenue Recovery Act by the Official Liquidator.
19. Coming to main CA No.54/2018 filed by Official Liquidator, this Court is satisfied that the aforesaid company-M/s Mysore Tools Pvt. Ltd., (in liquidation) deserves to be dissolved, as process of Date of Order 27-09-2018 C.A.No.245/2018 and connected matters in COP No.3/1975 Mr. M. Raghunath Chowdhary & Ors. Vs. M/s Mysore Tools Pvt. Ltd., (in liquidation) 20/20 winding up has been completed by the Official Liquidator in accordance with the Act and as per the averments made in the CA No.54/2018 filed in this Court on 14.02.2018. Accordingly, CA No.54/2018 is allowed.
M/s Mysore Tools Pvt. Ltd., (in liquidation) is hereby directed to be dissolved.
A copy of the order be forwarded to the Registrar of Companies in accordance with the Company (Court) Rules.
Sd/-
JUDGE PMR