STATE OF ANDHRA PRADESH Vs. TAJ GLASS WORKS LTD

JUDGEMENT

(1.) The question which arises for decision in this application is as to the scope of the duly of the Official Liquidator under Section 551 of the Indian Companies Act, 1956.

(2.) That Section in so far as is material for the present purpose, reads thus :

(3.) The Official Liquidator and the Registrar of Companies are at variance with regard to interpretation of this Section. It is contended by the Registrar of Companies that Section 551 must be read along with Section 441 of the Act and so read, the winding up of a Company should be deemed to commence at the time of the petition for winding up and, therefore, the Official Liquidator has to file the statements prescribed by Section 551 with-in two months of the expiry of one year from that date. On the other hand it is argued by the Liquidator that the period prescribed by Section 551 should he reckoned from the date of the actual winding up order and not from the date of the presentation of the petition for winding up.