- (1.) M/s. Basera Cement Ltd. ("the company") was ordered to be wound up vide order dated February 8, 2002, in Company Petition No. 38 of 2000 and the official liquidator attached to the court was appointed as liquidator of the company to conduct proceedings of winding up with effect from the date of order (February 8, 2002).
(2.) Upon order of winding up the company, statement of affairs was to be filed as required under Section 454 of the Companies Act, 1956 ("the Companies Act"), which as alleged, was not done within the prescribed time ; as such the official liquidator (the applicant) has filed a complaint through instant application under Section 454(5) of the Companies Act. As per records maintained by the Registrar of Companies, there were three directors of the company (including two Respondents herein and third director was a nominated director of the RIICO) on the date of winding up order.
(3.) After the permission was granted for initiating necessary prosecution under Section 454(1) of the Companies Act against ex-directors of the company except Ranjan nominated director whereof vide order dated January 6, 2004.;