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B.I.F.R. v. M/S Electra (India) Ltd. - MISC. COMPANY APPLICATION No. 9 of 2000  RD-AH 15748 (11 September 2006)
Court No. 30.
Misc. Company Application No. 9 of 2000
In the matter of
M/S. Electra (India) Ltd. ( In Liquidation)
Hon. Sunil Ambwani, J.
Sri Arun Kumar Jain son of Late Ami Chand resident of 261/9, Forest Lane, Sainik Form, Delhi has appeared in person and has filed his affidavit annexing therein an order dated 8.9.2006 of the Hon'ble Supreme Court in Special Leave to Appeal ( Civil) No. 15108 of 2006 as follows:
Petitioner Arun Kumar Jain aged about 60 years son of late Anu Chand Jain resident of 261/9 Forest Line, Sainik Form, Delhi is directed to surrender before the Chief Judicial Magistrate/Duty Magistrate, Meerut (U.P.) tomorrow the 09th September, 2006 and apply for bail with two sureties of Rs. 1 lac (Rupees one lac only) each. Chief Judicial Magistrate/Duty Magistrate, Meerut (U.P.) shall release the petitioner after being satisfied regarding the two sureties, as stated above, furnished by the petitioner. Petitioner is further directed to appear before the Company Judge at Allahabad (U.P.) on the date fixed i.e. 11th September, 2006.
With these observations, the special leave petition is disposed of."
In pursuance of the aforesaid order, he has appeared before the Duty Magistrate, Meerut on 9.9.2006 and was released on bail on submitting a personal bond of Rs. 1 lac and two sureties with the undertaking that he will appear before this Court on 11.9.2006.
Sri Arun Kumar jain has not filed Statement of Affairs so far. For the last about two months the Court had taken cognizance of offence under section 454(5) of the Companies
Act, 1956 and directed him to appear, he has evaded to file Statement of Affairs.
In this matter, the Court has spent several hours in the proceedings in the case to find out the assets of the company ( in liquidation), and sorting out the matters with regard to the properties which he had sold but he did not chose to disclose it to the Court. His counsel conveniently gave statement that he has no instruction from his client.
In the meantime it was found that he had registered another company in name of Kirtami Exims Ltd in which he inducted his cook and driver as directors. This company was also wound up on 23.4.2004.
Let Sri Arun Kumar Jain appear against on 26.9.2006, as prayed by him but without codoning the delay and accepting his apology he may file 'Statement of Affairs' giving full details of the assets and liabilities of the company ( in liquidation) on or before 25.9.2006.
Sri Arun Kumar Jain shall also give entire details of the other company which he had registered and financial status of those companies. It has been noticed in these proceedings that he declared loss of Rs. 12 crores and allowed the company to be wound up.
In the circumstances Sri Arun Kumar Jain should also file affidavit giving full and complete disclosure that he has his family members including his wife, children and parents after registration of the two companies and other two companies for which he states that never took of.
List on 26.9.2006.
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