THE HON’BLE SRI JUSTICE B.SESHASAYANA REDDY C.A.NO.652 OF 2011 ORDER This application has been taken out by M/s.Advance Waste Management Technologies Limited (in liquidation) represented by the Official Liquidator under Section 481 of the Companies Act, 1956 and Rules 281, 282 and 9 of the Companies Court Rules, 1959, seeking for an order of dissolution and other ancillary reliefs. This Court by order dated 20-04-2001 made in C.P.No.118 of 1997 appointed the Official Liquidator attached to this Court as liquidator of M/s. Advance Waste Management Technologies Limited in terms of Section 449 of the Companies Act, 1956. Subsequent to order of winding up of M/s.Advance Waste Management Technologies Limited, notices dated 11-6-2001 were issued to the Ex-Directors under Sections 454 and 456 of the Companies Act, 1956 requiring them to submit the Statement of Affairs and to handover the possession of the assets, books of accounts and records etc. As the Ex-Directors failed to file the Statement of Affairs, an application vide C.A.No.593 of 2001 under Section 454 of the Companies Act, 1956, came to be filed against the Ex-Directors of the company. Subsequently, the Ex-Directors of the company filed the Statement of Affairs on 18-03-2002 and also clarified the defects pointed out by the Official Liquidator from time to time. The Official Liquidator realized an amount of Rs.7,075,419.30ps. by sale of the properties of the company in liquidation. The Official Liquidator called for the claims from the creditors in compliance of the publication of notice in Form No.63 in Telugu Daily of “Andhra Jyothi” and English Daily of “Deccan Chronicle”. 19 claims have been received from the shareholders. List of creditors in Form No.71 has been filed vide C.A.Nos.2892, 538 and 539 of 2003. Declaration of 1st dividend @ 50% to the creditors came to be approved by this Court. Declaration of 2nd dividend came to be approv ed vide C.A.No.686 of 2009. Out of 19 shareholders, only 7 shareholders have submitted their proofs and accordingly, the Official Liquidator paid the amount. The un-claimed/disbursed amount of 12 shareholders came to be transferred to the account of the company in liquidation on 10-06-2011. Since the assets of the company have been liquidated and the amounts have been disbursed to the persons, whose claims have been taken on record against the company, no purpose would be served in keeping the liquidation proceedings with the Official Liquidator. Hence, this application. Heard the learned Official Liquidator representing the applicant company and perused the material placed on record. Statement of Accounts have been placed at annexure-E. The total amount realized is Rs.7,075,419.30 ps. The said amount has been disbursed to the claimants whose claims have been admitted and taken on record. No properties of the company in liquidation are available for administration of the Official Liquidator. In that view of the matter, the company in liquidation viz., M/s.Advance Waste Management Technologies Limited shall stand dissolved with effect from the date of this order. Half yearly accounts for the periods ending 31- 3-2010, 30-09-2010 and 17-3-2011 and from 18-3-2011 to 31-5-2011 have been taken on record. The action of the Official Liquidator in appointing M/s. KBS Associates and Padmanabha Rao & Co., Chartered Accountants, for auditing the accounts of the company, is approved. The Official Liquidator is permitted to pay the fees to the above said Chartered Accountants for auditing accounts of the company in liquidation. Filing of the final accounts of the company is dispensed with. Remittance of the Central Government fees for the period from 1-4-2011 till this day, in view of nil realizations on account of the company, is also dispensed with. The Official Liquidator is permitted to return the initial expenses of Rs.10,000/- remitted by the petitioning creditor. Accordingly, the company application is allowed. __________________________ B.SESHASAYANA REDDY,J rkk Dated: 8-8-2011