- (1.) The Respondent Krishi Export Com. Corporation Limited incorporated under the Companies Act and registered with the Registrar of companies, Kanpur as a non Banking financial company having its registered office at Krishi Export Plaza, Sigra, Varanasi was ordered to be wound up vide order dated 27.4.2007 under Section 45 MC of the RBI Act, 1934 and the official liquidator was directed to take over the assets of the company from the Ex-Directors. The relevant portion of the order dated 27.4.2007 is reproduced herein below: In the facts and circumstances, the Court find that the Reserve Bank of India has made out a case for winding up of the Respondent company under Section 45 MC of Reserve Bank of India Act 1934. The Respondent company is as such wound up and the official liquidator is appointed as liquidator of the company under Section 449 of the Companies Act Let the order be notified to the Registrar of Companies in accordance with the Companies Act, 12956 and the Companies (Court) Rules, 1959. The Ex-Directors will hand over the assets to the Official Liquidator and file statement of affairs within 21 days. The Official Liquidator will thereafter, submit a report to the Court.
(2.) Prior to the above order, this Court while entertaining the petition of the Reserve Bank of India for winding up of the company vide order dated 27.10.1999 had directed for issuance of notice to the Respondent-company and had restrained the Respondents company, its servants and agents from transferring, alienating and disposing of any of the assets of the company in any manner. The above interim order dated 27.10.1999 which is still continuing is reproduced herein below: Issue notice to the Respondent company Krishi Export Com. Corporation Limited having its registered office at Krishi Export Plaza, Sigra, Varanasi to show-cause why the petition be not allowed fixing 7.12.1999 by which date the Respondent company may file its reply. The Petitioner shall take steps to serve by registered post within one week. List on 7.12.1999. Meanwhile, considering the facts and circumstances of the case, the Respondent company, its servants and agents are restrained from transferring, alienating and disposing of the Respondent company in any manner or encumbering its property. Sd/- Sudhir Narain, J. 27.10.1999
(3.) Subsequently, vide order dated 27.4.2007 the Court directed for winding up of the Respondent company.;