Ajay Rastogi, J. - (1.) INSTANT company application has been filed by the applicant (OL) u/S. 497(6) of the Companies Act seeking permission of this Court for dissolution of M/s. Indian Dairy Entrepreneurs Agricultural Company Ltd. As alleged in the application, M/s. Indian Dairy Entrepreneurs Agricultural Company Ltd., was incorporated on 18.10.1969 and was put into Member's Voluntary winding up u/S. 484 of the Companies Act by a special resolution passed in extraordinary general meeting held on 05.05.2006 and copy of resolution has been placed on record as Annex A and shareholders of the said company appointed Sh. SR Bansal & Co., Chartered Accountants, as Voluntary Liquidator, in furtherance thereof the winding up proceedings commenced from 05.05.2006 and got completed on 23.01.2007 and the final statement of affairs dt. 23.01.2007 furnished to be realized by the Liquidator for distribution to the creditors/shareholders. The details of assets has also been indicated in para -5 of the application and the Voluntary Liquidator submitted a declaration of solvency filed by the ex -directors of the company to the effect that company will be able to pay its debts in full (Annex C). The Voluntary Liquidator submitted the final accounts and the relevant papers as demanded by the Official Liquidator who got examined and also sought income tax clearance for taking action u/S. 497, copy of which is on record as Annex J and letters dt. 07.08.2007 & 03.10.2007 were sent to the Registrar of Companies for initiating action u/s. 497(6) for dissolution of the company. The Registrar of Companies has also informed vide letter dt. 25.10.2007 that the final statements have been filed in form no. 156, copy of which has been placed on record and further indicated that there is no case pending in court against the company and the total balance which remained un -disbursed with the Voluntary Liquidator is for a sum of Rs. 1494/ - and which was deposited with the Official Liquidator against receipt no. 881 dt. 07.06.2007 (Annex M). It has now been submitted that there is no purpose going to be served and it appears that the affairs of the company has been conducted in accordance with the Companies Act & Companies (Court) Rules and were not in any manner prejudicial to the interest of the creditors or of the shareholders and accordingly prayed that permission may be granted for dissolution of the company u/S. 497 of the Act from the date of submission of report of the report before this Court.
(2.) TAKING note of the submissions made and the material which has come on record, this Court considers it appropriate to direct for dissolution of the company M/s. Indian Dairy Entrepreneurs Agricultural Company Limited u/S. 497 of the Act from the date of submission of the report before this Court. The Official Liquidator may take appropriate action as permissible under the law.;