IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD FRIDAY,THE TWENTY EIGHTH DAY OF JULY TWO THOUSAND AND TWENTY THREE PRESENT THE HONOURABLE SRI JUSTICE T.VINOD KUMAR , COMPANY APPLICATION NO. 5 OF 2022 IN coMPANY PETITION NO. 12 oF 1993 ln the matter of the Com oanie Act. 1956 s and IN THE MATTER OF M/S. BNG foods Limited ( ln Liquidation ) Between: M/s.BNG Foods Limited (in liquidation), Rep. by the Official Liquidator, Attached to the High Court for the State of Telangana. ...Applicant AND 1. The Managing Director, HSIL Limited,(formerly known as Hindustan Sanitaryware lndustries Limited), (Petitioner in C.P.No.12193), 2, Red Cross Place, Kolkata, West Bengal - 700 001 . 2. The Managing Director, APSFC ( Secured Creditor ), P.B. No. 165, 5-9-194, Chirag Ali Lane, Beside Little Flower School, Hyderabad - 500 001. ...RESPONDENTS Company Application Under Section 481 & 550 of the Companies Act, 1956 read with Rule 9 & 281 , 282 of the Companies ( Court ) Rules, 1959 for dissolution of the {+, (epe"/t lo .i. Dispens'e with the service of notice on the Respondents herein as Official Liquidator has already sought No Objection from all the Respondents above as detailed in Para no.3. ii. in view of the facts and position explaired in the affidavit thrs Honorable Court may be pleased to form an opinion that circumstances for initiatlng action as envisages under Sectton 481 of the Companies Act, 1956 has been made out and it is lust and reasonable in the circumstanc-.s of the case to order for the dissolution of the com pany. iii. drspense with the filing of Half Yearly Accounts for the period from 0110411997 lo 3110312018 as the Official Liquidator did not file Hatf-yearty Accounts for lhe period from 0'1/04/1997 to )1lO3l2O1A since, the dissolution application filed by the Official Liquidator in the'/eat 1991 was pending before this Honorable Court and due to Nil transactions. iv. dispense with the auditing of Half Yearly Accounts as there are no transactions lrom O110412018 to 3011212021. v. take on record of Half Yearly Accounts as, the Nil Statement / Affidavit of no Receipts or Payments from 011O412018 to 3O112i2O21. vi. dispense with the filing of the Final / Annrral accounts of the company since no realization has been made in the company in liquidation. and in view of the filing of the Half-Yearly accounts or statements / Affidavit of No Receipts or Payments regularly litl 3011212021 in the Company (in liquidation). vii. order that IM/s. BNG Foods Limited (in liquidation) be dissolved with effect from the date of the order. viii. permit the Official Liquidator to dispose off / destroy the books of accounts and records of the company any day after expiry of 5 (five) years from the date of the order of dissolution of the company. ix. permit the Official Liquidator to incur the cost of this application and other incidental expenses be met from Estate and Establishment fund, as there are no funds in the company in liquidation and This Company Application coming on for orders upon reading the Company Application and the affidavit dated 30-12-2021 filed by Smt. V. Santoshi Jagirdar Deputy Official Liquidator in support of the Company application and upon hearing the arguments of Sri J. Srinadha Reddy, Counsel for the Official Liquidator for the applicant and none appeared for Respondents . The Court made the following: ORDER TIONOUTTAI]t,E SRI JUSTICE II.VTNOD KUMAII COMPA No.5 of 2022 In Company Pctition No.l2 of 1993 ORDER: This Applical.ion is flled under Section 48 1 and 550 of the Companies Act, 1956 (for short 'the Act') read with Rulc 9, 281 and 282 ol the Cornpanics (Court.) Rr.rlcs. 1959 (for short 'the Rules'). 2. Ihc Otflcial l,iquidator prays the tbllowing reliefs ''(it tt.' tlispentc v,ith the service of notice on the respondcnls hc.rt,rn tt.; Oliic iol Liquidator has ulrcudy .sought No Ohje, tion /i'on rll tht, r,.'sltttnclenl hercin; (ii) itt t',icrr rtl'thc Jocts and position cxplained in the ffidavit this (.-otrrt nu1., be plea:ed lo /brnt an opinion that circumstances.for iniliurinq uclion es envisugci under ,\ccfion 181 of the Oonputties .4ct. 1956 hu.s l.tacn mude out and it i.\,iust and reasonablc in lhe cir(:Lun.\lonca\. of the ca;e lo orcler /'tr lhc clissttlution L,f lhe colnpuny,' (iii1 dispensc rt'ith the Jiling o./ I{alf Yearly Accounts.for the period .frou 01.01.1997 ro 31.03.201|J u.s the O/ficial l,iquidator did nor ./ile Hall-Yearlv lccountr for tht pe-iocl .from 0104.1997 to 31.0i.2018 sintc. the dissolurion upplication Jiled by the Ofjicial Liquiduror in the \,ear 1997 v'as pending be.fore this Court and due Io .\'iI |futrs(tt lijns.. -t"/ rc \- .rt El wrl , .r 2 (iv) t)ispense ',vith thc auditittg of hatf vearly ttccotutt:; fot tha n 30. t2 )02 I as tlrcrc tu.L' tttt fu) take on record rtf tlalf Yearll '4cutunts rrs lirt' \'il Statement/Affitlavit of no Receipt:; or Ptryment\ front)t'0J )018 to pcriods .ftrtm 0l-01-2018 lrarlsocliotls: 30.12.2021 , company; (vi) dispense with the fling of the Final/AnnuaL account\ oI tlrc compan)) since no reolizaliotl has bean node in thc t'tttttlttrtt't. itt l iquidttt io n.; a n(l i t'l \' ic Y) o I the fi l i ng o I t he H a l /: l' e u r l' u L ( o u tl l \ o t' statements/Aff datit ttf No Rl:ceipls or Pu)ttrttttts ragt otll rill 30.12.2020 in the Cotupury; fin liquidation): (vii) Order that l4r s BNG Footls Limitad (itt liquidation ) ba dissolved with elfect front the dale ol the ordc r ' (viii) Permil lhe Wcial Liquidator lo dispote o/f tlcstrt4" rht'books of accounls and records oJ the conrpany any dal uftcr atpir.t ol 5 (fve) years fron the dale of the ortler of tlissolution ol the (ix) Permir the Offcial Liquitlalor Lo incur tlv co\t d this applicotion and other incidental expenses bc ntet frottt l:stule & Establishment fund' as lhere are no funds in the conprury itt 3 liquidation- " The circumstances relevant for disposal ol this Application are as follows. 4. This Courl, by the order dt01'07'1994 in C'P'No i2 of t993' ordered winding up of IWs' BNG Foods Limited (Company in Liquidation)' \---. 3 5. lhe Ol'llcial I-iqiridator Iras filcd affidavit enclosinq thelewith Ar.rr.rcxurc-A to [],.\'ith this applicltion 1. r\s pel tlre a1'lldar it of thc Official Liquidator, as on datc, the 6. Ileard Sri J.srccnadh Iledcly, learncl counsel appearing foL the Olficial [.iquidatr..r. and pcrusecl the statemr'rt of al'lhirs of thc company ln liquidation and otircr nratcrial as evidenced b1 Annexure-A to F and also the affldar it datcd ,-10- I l-l()l I lilcd by Smt.V.Santoshi Jagirdar, Olllcial Liquidltor Company- in-liquidation is not har ing any anount to its credit; that as there no funcls. the Olllcial I-iqrridator could not proceed for invitation of claims from thc creditors of thc cornpanl -in-liquidatron; that as per the records, no pendinu in arrl Coutls of the C()mpany-in-liquidation; that no cases arc furlhcr allairs arc to bc pursued hy the Official Liquidator; and therefore soughl lrermission lor d issolution o1- the Company-in-liquidation. 8. Ilaving rcgard to the statenrent of the Ctfficial Liquidator as above and considcring tlrc lact that the winding up ord,:r was passed by this Court in the year 1994 and 29 1'cals have already passed, there appears to be no lurthcr aflairs to be pursLrcd by the Official [.iquidator in winding up ol the company in liq uidation \ L E-- iv I''r,/Y 4 9 Lr r'icrv or' trrc ahol'e c irc u nistarlces. irc usciur pur.pose *,c,trrd t,e scrvcd irr co,tinuin-e the u.inding up pr.oceedine.s willurut diss.lr ing rire conr pan) l() I l. (-'onscquenrlr. C.p.No.l2 of i99 j is closcd fhelefirre. the Contpanl,Application is orciered. No costs The Ollicial I_ ici r ritia:or slrall loiv;a.ci thc ccrlified copl or ihis order to thc Registrar of- tire ('onroanics alon_q ri,ith the starement signcd bv the Olficial I_iquirlator, as nrarrdated undcr Rulc l82 of thc Cornpzrnies (Court) Rules, 1959. Sd/- M. VIJAYA BHASKER JOINT REGISTRAR //TRUE COPY// SECTION OFFICER To i. Th" Offi"i"l Liquidator, M/s. BNG Foods Limited ( in Llqnidation) High Court at Hyderabad for the state of Telangana Office at 1't floor Corporate Bhawan, Nagole, Bandlaguda Thattiannaram Village Hayathnagar Mandal, Ranga Reddy District Telangana State Pin Code 500 680. 6D 2. The Registrar of Companies, Ministry of Corporate Affairs, Government of lndia 2"d lloor Corporate Bhawan, Nagole, Bandlaguda, Thattiannaram Village Hayathnagar Mandal, Ranga Reddy District, Telangana State Pin Code 500 680. 3. The Regional Director, South Eastern Region, Ministry of Corporate Affairs, 3d floor Corporate Bhawan, Nagole, Bandlaguda, Thattiannaram Village Hayathnagar Mandal, Ranga Reddy District Telangana State Pin Code 500 680. 4. The S.O. O.S. Section , High Court for the State of Telangana at Hyderabad 5. Two-C.D€oPbs 6. One CC to Sri J. Srinadh Reddy,Official Liquidator, High Court at Hyderabad 7. Two CD Copies \+- =#-ij**. I 11 HIGH COURT DA-lED:2a10712023 ORDER COMPANY APPLICATION No. 5 of 2022 COMPANY PETI'I'ION NO, I2 OF I993 ORDERING THE COMPANY APPLICAI'ION 1HES TA rE o e ( (. ,a L, )ou 1S 0[1 2[21 ln 't, ... * .- \ I-' -r\ 8,44 \'r- \,o\ts