REGISTRAR OF COMPANIES Vs. REGAL FINANCE PRIVATE LIMITED

JUDGEMENT

(1.) This company petition has been filed by the Registrar of Companies, Rajasthan, seeking winding up of the respondent Company M/s. Regal Finance Private Limited having its registered office at Sojati Gate, Jodhpur under Section 439 (5) read with Section 433 (e) of the Companies Act, 1956 (for short "the Act") .

(2.) The respondent Company was ordered to be wound up by this court vide order dated 21.4.86 and the Official Liquidator attached to this court was appointed its liquidator to take charge of all the properties and effects of the company in liquidation.

(3.) On an application being filed by the Official Liquidator for sale and auction of assets of the Company in liquidation at Jodhpur as well as its Korba Branch vide order dated 287 passed by this court, the Official Liquidator was permitted to auction the assets as prayed for. The auction was conducted by the Official Liquidator and the auction sale was confirmed vide order dated 12.10.87. Thereafter, vide order dated 16.8.87, the Official Liquidator was permitted to break open the lock of the branch of the company situated at Dharam Singh Market, Amritsar and so also to get the record transported from Amritsar to Jaipur through truck. He was permitted to meet necessary expenses out of the funds of company in liquidation. No further proceedings appears to have been taken subsequent thereto. The company petition even does not appear to have been listed before the Company Court for about 12 years.