High Court of Judicature at Allahabad
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National Housing Bank v. Dharohar Housing & Finance Limited - COMPANY PETITION No. 31 of 2006  RD-AH 3952 (8 March 2007)
Hon. Sunil Ambwani, J.
The bailable warrants sent to the Ex-Directors after taking cognizance under Section 454 of the Companies Act for non-filing of statement of affairs of the company wound up by this Court on 27.9.2006 have returned back with the following report:-
"(1) Sri Umashanker - This address does not falls under the jurisdiction of this Court, so process is returned to the issued.
(2) Sri Hari Narain - Not meant for South Division
(3) Sri Jitendra Kumar - No compliance report has been received.
(4) Sri Rajeshwari Prasad - Insufficient address. Hence, not known."
The last available balance sheet as on 31.3.2001 filed along with the application of the Official Liquidator under Section 454 (5) of the Companies Act, 1956 shows that the company had shareholders' fund of Rs.20 lacs, fixed assets/ net block of Rs.34,351/-, cash and bank balance of Rs.8681/-, and loans and advances of Rs.19,40,766/-. Net current assets including loans and advances were Rs.19,42,758/-. Dr. Balance in the profit and loss account was Rs.3541/- only.
The balance sheet does not show that the company has carried out any business except giving loans and advances. The deployment of funds is not known. In any case these funds were very small.
Let the Official Liquidator depute the Company Prosecutor to find out the whereabouts of the Ex-Directors and the deployment of funds, if any, by the company. He will also find out if the company has made any financial transaction before it was wound up or that it is still making any transaction.
Shri S.N. Chaturvedi appearing for the National Housing Bank will also report to the Court with the correct addresses of the Ex-Directors and the complaints, if any, received by the bank from the depositors or any other person with regard to company or its Ex-Directors.
The Official Liquidator will also publish an advertisement in daily newspapers inviting claims, if any, from the depositors or creditors of the company (In Liq.). The Official Liquidator's Report No.50 of 2007 is taken on record. List on 25.4.2007.
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