REGISTRAR OF COMPANIES Vs. BIHAR INVESTMENT TRUSTLTD

JUDGEMENT

(1.) This is a matter relating to the non-filing of statement of affairs of a company, namely, Messrs. the Bihar Investment Trust Ltd., which has been wound up by an order passed by this court on the 27th August, 1974, on an application under Section 433(e) and (f) read with Section 439(5) of the Companies Act, filed by the Registrar of Companies, Bihar, Patna, and the official liquidator was appointed to be the liquidator.

(2.) No statement of affairs was filed before the official liquidator by any of the persons mentioned in Section 454 of the Act of their own accord and accordingly he submitted a report to this court on the 16th of December, 1974. In his report, he mentioned the names of four persons, namely, three of the directors and the fourth as the secretary of the company who, according to him, were liable to submit the said statement. He has stated in his report that he issued registered letters to all the four persons aforesaid, but could not succeed in obtaining any information and has, accordingly, prayed for an appropriate order against the aforesaid persons.

(3.) The three directors mentioned in the report are, (i) Vishnu Narain Arora, (ii) Lakshmi Narain Arora and (iii) Bhagwat Narain Arora (hereafter collectively referred to as the " Aroras "), while the fourth person is Ambika Prasad Verma, the secretary. On receipt of this report, notices were issued by this court to all the aforesaid persons and all of them in their "show-cause" filed in this court have denied their obligation to comply with the requirement of filing the statement of affairs under Section 454 of the Act.