Telangana High Court
M/S Sri Raja Rajeswara Finance ... vs Sri Sangam Trilochana Rao 6 Others on 1 July, 2022
Author: T.Vinod Kumar
Bench: T.Vinod Kumar
THE HONOURABLE SRI JUSTICE T.VINOD KUMAR
COMPANY APPLICATION No.1532 of 2007
ORDER:
This application is filed under Section 454(5) and (5A) of the Companies Act, 1956 (for short 'the Act') r/w Rule 125 and 132 of the Companies (Court) Rules, 1959 to take cognizance of the offence committed by the accused under Section 454(5) and (5A) of the Act, to summon the accused for being tried and punished in accordance with sub-Section (5) and (5A) of Section 454 of the Act and dispense with the presence of the complainant during the hearing of the complaint.
It is brought to the notice of this Court that subsequent to filing of the above Application, accused A-1 and A-7 have filed statement of affairs relating to the applicant Company-in-Liquidation and the same has been accepted by the Official Liquidator representing the applicant- Company.
It is also stated by learned counsel for A-1 and A-7 that they are in non-receipt of any further notices from the Official Liquidator pointing out any defects in the statement of affairs filed by them, and thus accused A-1 and A-7 have duly complied with the requirements by 2 furnishing statement of affairs of the Company-in-Liquidation till date of liquidation.
Learned counsel for appearing for Official Liquidator would submit that there is surplus amount of Rs.42,69,165-01 ps available to the credit of the Company-in-Liquidation and necessary steps have been initiated to disburse the said surplus amount to the contributories of the Company-in-Liquidation and in that regard, letter has been issued to the accused.
Learned counsel representing accused A-1 and A-7 would further submit that A-1 and A-7, to the best of their information available, have already furnished the details/information sought by the Official Liquidator by providing the names of the contributories along with their available addresses on 27-06-2022.
Leaned counsel for the Official Liquidator submits that the Authorities would verify the information furnished by accused A-1 and A-7 and further action for disbursing the said amount to the contributories would be taken under the provisions of the Act. 3
Insofar as this Application is concerned, having regard to the statement made as above, since accused A-1 and A-7 have already furnished statement of affairs, this Court is of the view that this Company Application can be closed.
Accordingly, this Company Application is closed. No costs. As a sequel, the miscellaneous petitions, if any pending, shall stand closed.
__________________________ JUSTICE T.VINOD KUMAR Date: 01-07-2022 Vsv