High Court of Judicature at Allahabad
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In The Matter Of Danin Leather Ltd. - COMPANY PETITION No. 95 of 1997  RD-AH 4165 (22 February 2006)
Hon. Sunil Ambwani, J.
Heard Shri A.K. Misra, learned counsel for the Official Liquidator and Shri S.O.P. Agrawal, learned counsel for delinquent Ex-Directors.
An incomplete and sketchy statement of affairs has been filed today in the morning with the Official Liquidator. The Ex-Director is present in the Court and informs that some of the dues have been paid. Shri S.O.P. Agarwal submits that due to fire goods, machinery as well as accounts were burnt. He also informs that about Rs.95 lacs was due from Soviet countries, which could not be recovered because of disintegration of the Soviet blocks. He has placed on record a letter from Reserve Bank of India dated 27.6.2002 asking the company as to what steps they have taken to realize the dues.
It is matter of concern that a company, which was wound up on 12.10.1999 was hiding this fact from the Court and the Official Liquidator and that the Ex-Directors turned up only after non-bailable warrants were issued and they were arrested.
Let the Official Liquidator submits his report on the statement of affairs. Shri S.O.P. Agrawal states that the company is not left with any property or assets at all and thus the company does not have anything to hand over to the Official Liquidator.
Put up this matter on 24.3.2006. All the Ex-Directors will be present on that day.
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