JAVNIKA NARESH RAVAL Vs. STATE

JUDGEMENT

(1.) THE petitioner, namely, Smt.Javnika Naresh Raval, Ex -Director of Zalak Cold Storage Pvt. Ltd., has filed this petition under Section 560(6) of the Companies Act, 1956, praying for restoration of the Company, namely, Zalak Cold Storage Pvt. Ltd., to the register of Companies maintained in the office of Registrar of Companies in the interest of justice and equity. The petitioner has also prayed for passing other incidental consequential and supplementary orders and directions as may be necessary and deemed fit by this Court.

(2.) THIS Court has issued notice on 5.2.2008 to the Registrar of Companies. Pursuant to the notice, Registrar of Companies has filed his appearance through his counsel Mr.Harin P. Raval and has also issued instructions to his counsel vide letter dated 18.2.2008 which is placed on record.

(3.) MR . N.K.Pahwa, learned advocate appearing for the petitioner submitted that the petitioner was the first Director of the Company and was also the subscriber to its Memorandum of Association. The Company came to be incorporated on 28.10.1996 and was given certificate of incorporation by the Registrar of Companies, Gujarat vide Registration No.031012. The Company was incorporated with the object of Cold Storage Plant which is essentially based on power and fuel viability. The Low Pressure Gas which is supplied by ONGC is the most viable source of power for the cold storage plant. The Company had made application somewhere in the year 1998 to ONGC Ltd, for allocation of low pressure natural gas to the unit of the company from Limbodra Field of Ahmedabad Asset of ONGC Ltd. Vide letter dated 14.7.1998, a confirmation came to be given from Limbodra Field, the generation/storage of gas of ONGC Ltd., confirming allocation of 2000 SCMD of low pressure natural gas in favour of the company. The ONGC Ltd., also confirmed the said confirmation vide its letter dated 17.7.1998. However, no actual allocation of gas was made by ONGC in favour of the company despite repeated requests and reminders. As the other means of power were not viable as compared to the rent charges of cold storage at the relevant point of time, the Company could not continue its business in a viable manner. The Company was constrained to take steps under the provisions of Section 560 of the Act and followed the procedure thereunder by submitting appropriate application under the Exit Scheme for striking of the name of the petitioner from the register of companies maintained in the office of Registrar of Companies. The Registrar of Companies while accepting the application made an order for striking of the name of the company from the register as per the provisions of Section 560(5) of the Act. The Registrar of Companies has also published public notice in the Official Gazette dated 26.3.2002 which was in fact published on 13.4.2002.