HON’BLE SRI JUSTICE B. SESHASAYANA REDDY COMPANY APPLICATION No.299 of 2011 ORDER: This application has been filed by the Official Liquidator under Rule 9 of the Companies (Court) Rules, 1959 (for short ‘the Rules’) read with Section 497(6) of the Companies Act, 1956 (for short ‘the Act’) seeking an order that M/s. Cyberscape Communications Private Limited shall stand dissolved from the date to be specified by this Court. Background facts, in nut-shell, leading to filing of this application by the Official Liquidator are:- M/s. Cyberscape Communications Private Limited was incorporated on 19.07.1996 under the provisions of the Act vide Certificate of Incorporation No.24703 issued by the Registrar of Companies, Andhra Pradesh, Hyderabad. The company was promoted by Sri A. Krishna Murthy and two others to provide educational and consultancy services to individuals and organisations on the benefits, theory and implementation techniques of internet technology and also to develop world wide web content for individuals and organisations using programming languages and tools. The company in its Extra-ordinary General Meeting held on 21.04.2003 passed resolution resolving that the company be wound up voluntarily and appointed Sri G. Pattabhi Rama Charya, Chartered Accountant of Secunderabad as a Liquidator of the company pursuant to the provisions of Section 490 of the Act for the purpose of winding up of the company. The said Liquidator, after concluding winding up proceedings, submitted statement of accounts of the winding up in Form No.156 to the Official Liquidator pursuant to Section 497 of the Act read with Rule 329 of the Rules on 18.02.2010. The Official Liquidator, on receiving the statement of accounts and returns, scrutinized the books of accounts of the company and found that the affairs of the company had not been conducted in a manner prejudicial to the interest of the members or to the public interest. The Official Liquidator perused the balance sheets as on 30.03.2003 and also the amounts realised by the Liquidator. The Liquidator has paid 77 paise per Rs.10/ equity share to the shareholders of the company out of the sale proceeds of the assets of the company. The company has no secured or unsecured creditors. Whatever amount realised by sale of the assets of the company has been distributed among the shareholders in the ratio of 77 paise per Rs.10/- equity share. The Liquidator convened the final meeting of the members for dissolution of the company on 29.01.2010 after due notice. The general body approved action of the Liquidator and thereupon liquidator filed report in Form No.156 and Form No.157 dated 03.02.2010 with the Registrar of Companies. Hence this application by the Official Liquidator to notify the date of dissolution of the company as provided under Sub-Section 6 of Section 497 of the Act. Heard learned counsel appearing for the Official Liquidator and perused the material placed on record. This is a case of voluntary winding up of the company. Sri G. Pattabhi Rama Charya, Chartered Accountant of Secunderabad, was appointed as a Liquidator. The action of the Liquidator has been verified by the Official Liquidator and found that they are not, in any way, prejudicial to the interest of the shareholders or the public. The amounts realised by way of sale of the assets of the Company have been distributed to the shareholders at the ratio of 77 paise per Rs.10/- equity share. I do not see any impediment in accepting the report of the Official Liquidator. Accordingly, the Company Application is ordered notifying the date of the dissolution of M/s. Cyberscape Communications Private Limited as on the date of this order i.e. 11.04.2011. ______________________________ JUSTICE B. SESHASAYANA REDDY 11th April, 2011 VJL