COMP/147/2007 1/5 JUDGMENT IN THE HIGH COURT OF GUJARAT AT AHMEDABAD COMPANY PETITION No. 147 of 2007 For Approval and Signature: HONOURABLE MR.JUSTICE K.A.PUJ ========================================================= 1 Whether Reporters of Local Papers may be allowed to see the judgment ? 2 To be referred to the Reporter or not ? 3 Whether their Lordships wish to see the fair copy of the judgment ? 4 Whether this case involves a substantial question of law as to the interpretation of the constitution of India, 1950 or any order made thereunder ? 5 Whether it is to be circulated to the civil judge ? ========================================================= DHARMENDRA N. BAROT - Petitioner(s) Versus MANNA GLASS-TECH INDUSTRIES LIMITED - Respondent(s) ========================================================= Appearance : MR BHARAT T RAO for Petitioner(s) : 1, NOTICE SERVED BY DS for Respondent(s) : 1, ========================================================= CORAM : HONOURABLE MR.JUSTICE K.A.PUJ Date : 30/04/2008 ORAL JUDGMENT 1. The petitioner has filed this petition under Sections 433 and 434 of the Companies COMP/147/2007 2/5 JUDGMENT Act, 1956 for winding up of the respondent Company on the ground that the respondent Company has failed to make payment of Rs.1,43,870/- alongwith interest accrued thereon to the petitioner. 2. This Court has issued notice on 27.6.2007. Notice was duly served on respondent Company. Despite service of notice nobody appeared on behalf of the respondent Company. The Court, therefore, passed order on 24.12.2007 whereby the petition was admitted and the petitioner was directed to issue advertisement in two newspapers, namely, 'Indian Express' (in English language) and 'Sandesh' (in Gujarati language), both of Ahmedabad Edition, fixing the date of final hearing on 31.1.2008. Publication of advertisement in Government Gazette was dispensed with. 3. Pursuant to the order of admission and advertisement, advertisements were issued in COMP/147/2007 3/5 JUDGMENT two newspapers and affidavit of publication is filed on 28.1.2008 alongwith which, newspapers cuttings were also placed on record. Despite publication of advertisement, the respondent Company did not choose to remain present before the Court. Even no one has come forward to oppose the petition. 4. Mr.Niraj Ashar, learned advocate appearing for Mr.B.T.Rao, learned advocate for the petitioner states that factory premises and registered office of the respondent Company are closed since long. There is no one to look after the respondent Company. Even relevant data is not filed with the Registrar of Companies. It appears that the respondent Company's existence is merely in name only. He has, therefore, submitted that this is the fit case to pass winging up order. 5. Having heard learned advocate for the COMP/147/2007 4/5 JUDGMENT petitioner and having gone through the memo of petition and documents attached therewith, the Court is satisfied that the respondent Company has lost its financial substratum and it has failed to discharge its liability towards its creditors. Even statutory requirements have not been fulfilled by the respondent Company. The respondent Company has also failed to appear before this Court despite specific notice as well as public notice. The Court, therefore, remains with no other alternative but to pass winding up order. Accordingly, the respondent Company is hereby ordered to be wound up. The Official Liquidator attached to this Court is appointed as Liquidator and is directed to take charge of the assets, if any, of the respondent Company after giving intimation to the secured creditors, if any. Compliance report is to be filed before the Court after taking charge of the assets of the respondent Company. COMP/147/2007 5/5 JUDGMENT 6. Subject to the aforesaid direction and observation this petition is accordingly disposed off. (K. A. PUJ, J.) kks