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Judgment
Balraj Joshi, Member (Technical)
This court convened via hybrid mode.
The I.A. has been filed by Bijay Murmuria, Liquidator of Baijnath Sarda (Mineral) Private Limited seeking directions for constitution of the Advisory Committee/Winding Up Committee comprising of the following:
a. Bijay Murmuria, Liquidator
b. Srikanta Sarda (stakeholder) (holding 10850 equity shares);
c. Ashok Kumar Sarda (stakeholder) (holding 2688 equity shares);
d. Mohan Lal Sarda (stakeholder) (holding 2737 equity shares);
e. Jamuna Devi Bagri (stakeholder) (holding 2687 equity shares)
f. Srikanta Debi Kothari (stakeholder) (holding 2688 equity shares)
Baijnath Sarda (Mineral) Private Limited (“Company”) was ordered to be wound up by this Tribunal on 04 April 2022 and Mr. Bijay Murmuria was appointed as the Liquidator.
The Liquidator made a public announcement in Form WIN 14 on 20 April 2022, in the Times of India (English) and Hindustan (Hindi) (Jharkhand editions) and Financial Express (English) (Kolkata edition) for intimation of the winding up of the Company and for submission of claims by the Creditors.
The brief submissions of the Liquidator are as follows:
a. That the Liquidator has to constitute a winding up committee which shall be assisting and monitoring the winding up function and associated process.
b. In compliance with section 277 (4) of the Companies Act, 2013, the Liquidator is required to make an application for constitution of winding up committee within three weeks from the date of passing of the winding up order, however, no claims were received from any creditors of the Company on or before 27 April 2022, hence there were no creditors to constitute the winding up committee.
c. The Liquidator made a public announcement in Form WIN 43 on 10 May 2022, in the Times of India (English) and Hindustan (Hindi) (Jharkhand editions) and Financial Express (English) (Kolkata edition) calling for submissions of proofs of respective debt or claims by the creditor wherein the last date of submission of proofs was 24 May 2022.
d. The Applicant received intimations from the following stakeholders on 20 May 2022:
i. Srikanta Sarda (stakeholder) (holding 10850 equity shares);
ii. Ashok Kumar Sarda (stakeholder) (holding 2688 equity shares);
iii. Mohan Lal Sarda (stakeholder) (holding 2737 equity shares);
iv. Jamuna Devi Bagri (stakeholder) (holding 2687 equity shares)
v. Srikanta Debi Kothari (stakeholder) (holding 2688 equity shares)
e. No claims were submitted by the creditors of the Company and hence the Applicant is not able to comply with section 277(4) of the Companies Act, 2013.
Heard the learned Counsel appearing on behalf of the Liquidator, we allow the present I.A. and direct the Liquidator to form the Advisory Committee/Winding Up Committee comprising of the following:
a. Bijay Murmuria, Liquidator
b. Srikanta Sarda (stakeholder) (holding 10850 equity shares);
c. Ashok Kumar Sarda (stakeholder) (holding 2688 equity shares);
d. Mohan Lal Sarda (stakeholder) (holding 2737 equity shares);
e. Jamuna Devi Bagri (stakeholder) (holding 2687 equity shares)
f. Srikanta Debi Kothari (stakeholder) (holding 2688 equity shares)
The Liquidator shall form the Advisory Committee/Winding Up Committee at the earliest and comply with the Companies (Winding Up) Rules, 2020.
A copy of this order shall be sent to ROC, Kolkata, West Bengal by the registry.
List the main CP No.1335/KB/2018 on 31.10.2022 for filing report.
Certified copy of this order may be issued, if applied for, upon compliance of all requisite formalities