Rajasthan High Court - Jaipur
M/S Shree Balkrishna Commercial Co Ltd vs M/S Ask Dairies Pvt Ltd on 2 September, 2021
Author: Ashok Kumar Gaur
Bench: Ashok Kumar Gaur
HIGH COURT OF JUDICATURE FOR RAJASTHAN
BENCH AT JAIPUR
S.B. Company Petition No.24/2010
M/s Shree Balkrishna Commercial Co Ltd
----Petitioner
Versus
M/s Ask Dairies Pvt Ltd
----Respondent
Connected With S.B. Company Application No.8/2016 O/l Of M/s Ask Dairies Pvt Ltd
----Petitioner Versus Shri Alok Pareek And Another
----Respondent S.B. Company Suit No.2/2019 Alok Pareek S/o Shri Kamal Narayan
----Petitioner Versus Govindprasad S/o Shri Kanhaiyalal
----Respondent S.B. Company Application No.12/2019 Official Liquidator Of M/s Ask Dairies Pvt. Ltd.
----Petitioner Versus Shri Alok Pareek S/o Shri Kamal Narain Pareek
----Respondent For Petitioner(s) : Mr.Ankit Sethi, Adv. for Official Liquidator.
Mr.C.M. Karl Marx, Official Liquidator. For Respondent(s) : Mr.Amol Vyas, Adv.
Mr.Mahesh Gupta, Adv.
Mr.R.C. Sharma, Adv.
Mr.Raj Kumar, Adv.
Mr.Anshuman Saxena, Adv. for Mr.Heeralal Prajapati, Adv.
Mr.Alok Pareek & Mr.Ajay Pareek, Directors of the Company in Liquidation, are present in person. (Downloaded on 03/09/2021 at 10:26:47 PM)
(2 of 3) [COP-24/2010] HON'BLE MR. JUSTICE ASHOK KUMAR GAUR Order 02/09/2021 This Court on 12.08.2021 granted time to Mr.Amol Vyas counsel appearing for the respondent-Directors for securing the presence of Directors--Mr.Alok Pareek and Mr.Ajay Pareek for considering the application filed for confession in respect of proposal which was made to settle the issue with regard to allegation made by the Official Liquidator in the application for non-compliance of Section 454 of the Companies Act.
Mr.Alok Pareek and MrAjay Pareek, Directors of the Company in Liquidation, are present in person, before this Court.
This Court prima facie finds that admittedly the Directors have not filed statement of affairs in the prescribed form and there is an apparent delay of about two years in filing such statement of affairs, as the order of appointment of provisional Liquidator was filed on 24.04.2015 and Company was wound up on 07.04.2017.
Learned counsel informs this Court that both the Directors had filed statement of affairs on 06.12.2017 and revised statement of affairs was also filed on 04.07.2018.
This Court apparently finds that there is a delay of almost two years in filing the statement of affairs and as per provisions contained in Section 454(5) of the Companies Act and fine prescribed is Rs.1,000/- per day, for such delay being caused. If this calculation for two years is made, the amount comes to Rs.7,30,000/-.
This Court asked learned counsel Mr.Amol Vyas to seek instructions from his clients if they are prepared to pay (Downloaded on 03/09/2021 at 10:26:47 PM) (3 of 3) [COP-24/2010] Rs.5,00,000/- (in words Five Lakhs) as fine in compliance of provisions of Section 454 of the Companies Act, the matter can be considered for deciding the application filed by the Official Liquidator.
Learned counsel Mr.Amol Vyas submits that necessary instructions can be sought from his clients by him and the same will be communicated on the next date of hearing.
List on 23.09.2021.
(ASHOK KUMAR GAUR), J Himanshu Soni/Parul/2-5 (Downloaded on 03/09/2021 at 10:26:47 PM) Powered by TCPDF (www.tcpdf.org)