ZALAK COLD STORAGE P. LTD. Vs. STATE

JUDGEMENT

(1.) THE petitioner, namely, Smt. Javnika Naresh Raval, ex -director of Zalak Cold Storage P. Ltd., has filed this petition under Section 560(6) of the Companies Act, 1956, praying for restoration of the company, namely, Zalak Cold Storage P. 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 February 5, 2008, to the Registrar of Companies. Pursuant to the notice, the 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 February 18, 2008, which is placed on record.

(3.) MR . Pahwa further submitted that in the intervening period, various viability factors in respect of cold storage plant had changed positively. The petitioner had made representation to ONGC Ltd., in the year 2005 and 2006. The ONGC Ltd., addressed a letter dated May 15, 2006, to the company through its director conveying its willingness to allocate 4000 SCMD of low pressure natural gas. However, even after writing the said letter, no further steps were taken by ONGC Ltd., showing its willingness to enter into agreement and for other formalities. The petitioner, therefore, made representation to the concerned Minister and pointed out the delay in allocation of gas supply by ONGC Ltd., despite its confirmation. Oral representations were also made before the concerned Minister of Petroleum and Natural Gas on June 6, 2007. ONGC Ltd., vide its letter dated August 31, 2007, confirmed that the competent authority has allocated 4000 SCMD natural gas from Limbodra Field under Ahmedabad Asset, for the plant of the company at a price of US 4.75 MMBTU on fall back basis for a period of 2 years.