THE HON’BLE SRI JUSTICE B.SESHASAYANA REDDY Company Application No.1574 of 2010 Dated : 15-06-2011 Between: M/s Asia Pacific Exports Limited …..Applicant and M/s Thomas Cook (India) Limited …Respondent THE HON’BLE SRI JUSTICE B.SESHASAYANA REDDY Company Application No.1574 of 2010 ORDER: This application has been taken out by M/s Asia Pacific Exports Limited represented by the Official Liquidator under Section 481 of the Companies Act, 1956 and Rules 281, 282 and 9 of the Company (Court) Rules, 1959, seeking an order of dissolution of the company in liquidation apart from other incidental orders. The respondent herein filed Company Application No.67 of 2000 under Section 433(e) and 434 (1)(a) r/w 439 (i)(b) of the Companies Act, 1956 seeking an order of winding up of the Asia Pacific Exports Limited. The company petition came to be allowed on 09.04.2002 and Official Liquidator attached to this Court came to be appointed as Liquidator directing him to take charge of all the properties and assets of the company in liquidation. The Official Liquidator issued notices to the ex-Directors of the company in liquidation under Section 454 and 456 of the Companies Act, requesting them to submit the statement of affairs and to hand over the assets and books of accounts and records respectively of the company in liquidation. Notices sent to the above directors except to P.G.Chengappa were returned with postal remarks ‘left’ or ‘no such person in this address’. Sri P.G.Chengappa vide his letter dated 23.06.2002 informed the Official Liquidator that he is only a non-executive Director not connected with the affairs of the company in any manner and he has resigned from the Board on 19.07.1997 and his resignation was sent to Sri V.V.Prasad Reddy, Managing Director. The official liquidator issued a notice dated 04.01.2008 to Sri V.V.Prasad Reddy, said to be the Managing Director of the company in liquidation. The notice was returned with postal remarks ‘left’. The official liquidator despite his best efforts could not trace out the addresses of the Ex-directors. He addressed a letter to the Commissioner of Police in Hyderabad requesting to trace out the addresses of the Ex-directors. In response, the Commissioner of Police vide letter dated 16.12.2002 had replied that the ex-directors are not residing in the addresses furnished and their whereabouts are not known. Official liquidator has deputed his officials to take possession of the assets, books and records of the company situated at the registered office premises at Flat No.301, Dreams Apartments, Road No.3, Banjara Hills, Hyderabad on 24.06.2002. The deputed officials had reported that the said Registered office was residence of the ex-director in the year 1996-97 and it was vacated in the year 1999. Thereafter, the officials proceeded to the corporate office situated at H.No.301, Plot NO.94, Kamalapuri Colony, Phase-I, Hyderabad and enquired with the flat owner, who informed that the corporate office was shifted two years back. Thus, neither the assets nor books and records have come into the possession of the Office of the Official Liquidator. The official liquidator made efforts to secure certified copies of Form No.8, Balance Sheets and the Annual Returns filed by the company from R.O.C. Hyderabad. In response the Registrar of Companies, Hyderabad replied that the company in liquidation had not submitted Form No.8, Balance Sheet and Annual Returns. Statement of the Affairs of the company in liquidation could not be known by the Official Liquidator. Therefore, he moved the instant application seeking for order of dissolution of the company apart from other incidental directions. Notice to respondent came to be ordered on 31.12.2010. Despite notice being served on the respondent, the respondent neither appeared in person nor through a counsel. Official liquidator placed on record his report vide O.L.R.No.105 of 2011. The report is with regard to the efforts made by the Official liquidator to secure the whereabouts of ex-directors of the company and also to secure the books of accounts and addresses of the directors of the company in liquidation. He entered into correspondence with the Commissioner of Police to know the whereabouts of the ex-directors and also the Registrar of Companies to secure the certified copies of annual report, balance sheets of the annual reports. But his efforts did not yield fruitful result. Statement of affairs of the company have not been placed on record either by the petitioning creditor or by anyone on behalf of the company in liquidation. Even the petitioning creditor failed to turn up to furnish the statement of affairs of the company in liquidation. Therefore, there is no useful purpose in keeping the proceedings pending with the official liquidator. Accordingly, the application is ordered dissolving the company in liquidation –M/s Asia Pacific Exports Limited with effect from today. Half yearly accounts for the period ending from 01.04.2009 to 30.09.2009 have been taken on record. Appointment of M/s P.S.N.Ravishanker, Chartered Accountant for auditing the accounts of the company is approved. The official liquidator is permitted to pay Rs.250/- to the Chartered Accountant towards his fees for the auditing of the company accounts. Filing of the half yearly accounts for the period subsequent to the half yearly ended on 30.09.2009 in view of the absence of any transaction, is dispensed with. Filing of the final accounts of the company is also dispensed with. Remittance of the Central Government fees in view of the ‘nil’ realization for the period from 09.04.2002 till date is dispensed with. _____________________ B.SESHASAYANA REDDY, J Dt.15th June, 2011 PNV