Telangana High Court
COMPA/1538/2010 of M/S. ETOS CONSULTING LTD., (IN LIQN.) Vs - on 29 December 2010
Ms. JUSTICE G. ROHINI COMPANY APPLICATION No. 1538 OF 2010 IN COMPANY PETITION No. 147 OF 2001 Date: 29.12.2010 Between: M/s. ETOS Consulting Ltd., Rep., by the Official Liquidator … Applicant THE HON’BLE Ms. JUSTICE G. ROHINI COMPANY APPLICATION No. 1538 OF 2010 IN COMPANY
THE HON’BLE Ms. JUSTICE G. ROHINI
COMPANY APPLICATION No. 1538 OF 2010INCOMPANY PETITION No. 147 OF 2001
Date: 29.12.2010
Between:
M/s. ETOS Consulting Ltd.,Rep., by the Official Liquidator … Applicant THE HON’BLE Ms. JUSTICE G. ROHINI
COMPANY APPLICATION No. 1538 OF 2010INCOMPANY PETITION No. 147 OF 2001
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O R D E R :
This is an application filed by the Official Liquidator attached tothis Court representing M/s. ETOS Consulting Ltd., a company inliquidation, seeking permission to dispense with issue ofadvertisement for inviting the claims from the creditors.
I have heard Sri M.Anil Kumar, learned counsel representing theOfficial Liquidator and perused the material available on record.
In the affidavit filed in support of the application, it is stated thatM/s. ETOS Consulting Ltd., was directed to be wound up by this Courtby order dated 15.03.2022 in C.P.No.147 of 2001. Thereafter, theOfficial Liquidator had taken possession of the assets and records ofthe company in liquidation and by sale of the movable properties asum of Rs.3,68,819.04 ps. could be reaslised and the same was lyingto the credit of the company in liquidation. It is stated that theStatement of Affairs of the company in liquidation filed by the Ex-Directors revealed only one secured creditor. Apart from the claim ofRs.5,81,214/- received from the petitioner in winding up petition, as perlist C of Statement of Affairs a total sum of Rs.1,59,848.50 ps. was dueto the preferential creditors. Since the amount realised on sale of themovable assets of the company in liquidation was only Rs.3,39,101/-which was not even sufficient to pay to the secured creditor and thepreferential creditors shown in the Statement of Affairs of the company,the present application has been filed by the Official Liquidatorseeking permission to dispense with the issue of advertisement forinviting the claims from the creditors and instead to send notices to the creditors in Form No.64 to prove their claims against the assets of thecompany.
Having heard Sri M.Anil Kumar, the learned counsel for theOfficial Liquidator and having regard to the facts and circumstancesexplained by the Official Liquidator, which made it clear that there areno sufficient funds to the credit of the company in liquidation, I deem itappropriate to dispense with the issue of advertisement for inviting theclaims from the creditors.
Accordingly, the Official Liquidator is hereby permitted todispense with the issue of advertisement for inviting the claims fromthe creditors. The Official Liquidator is also permitted to sendindividual notices to the creditors as per the statement of Affairs of thecompany to prove their claims against the assets of the company inForm No.64 of the Companies (Court) Rules, 1959.
Application is accordingly allowed as prayed for.
Date: 29.12.2010KLP
____________G. ROHINI, J.