ORDER : 1. In wake of instant surge in COVID-19 cases and spread of its highly infectious Omicron variant, abundant caution is being maintained, while hearing the matters in Court, for the safety of all concerned. In S.B. Company Application No. 12/1995:- 2. This Court finds that the proceedings of misfeasance against the director was sought to be proceeded. 3. This Court takes note of the fact that despite prolonged opportunities, by possible ways and means, in the given circumstances, the service upon the director could not be completed, though one of them is represented. 4. The repeated chances given in this case clearly indicate that the service upon the director has virtually entered into realm of impossibility. It is a fundamental and common principle of law that no conclusive adjudication can take place without serving notice on concerned persons. 5. The service by publication is a costly affair and the amount in question is quite low, and therefore, it would not be a practical step to take. 6. After a perusal of the record and the misfeasance application against the directors, who are already bankrupt, the present company application is dismissed. In S.B. Company Petition No. 12/1988:- 1. The matter comes up on the application (IA No.6/2020), which has been filed claiming the following reliefs: "(i) Whether this Hon’ble Court would be pleased to take the facts and information stated herein above on record of this Hon’ble Court. (ii) Whether this Hon’ble Court would be directed to dissolve the company under Section 481 of the Companies Act, 1956 subject to outcome if any of misfeasance case for Rs. 10,29,304/- in future, which may be deposited in the VCF of Jodhpur and to direct the Registrar of Companies, Jaipur to remove the name of M/s. Bhilwara Wooltex Limited (In Liquidation) from the Register of his office. (iii) Whether this Hon’ble Court would be pleased to permit the Official Liquidator to display a copy of the dissolution order passed by the Hon’ble Court on the website of MCA and notice board of the Hon’ble Court. (iv) Whether this Hon’ble Court would be pleased to permit the Official Liquidator to transfer an amount of Rs.2,31,094/- lying in the fund of the company in liquidation into the Various Company’s Fund, Jodhpur. " 2. (iv) Whether this Hon’ble Court would be pleased to permit the Official Liquidator to transfer an amount of Rs.2,31,094/- lying in the fund of the company in liquidation into the Various Company’s Fund, Jodhpur. " 2. During the course of hearing, the Official Liquidator present before this Court prays that after decision of the present application, nothing would survive in the present company petition. Thus, the present company petition itself is being decided by this order. 3. Learned Senior Counsel Mr. Vikas Balia assisted by Mr. Dinesh Singh along with Mr. D.K. Meena, (Official Liquidator present in person) (hereinafter referred to as ‘O.L.’) submits that the Company in question was ordered to be wound up vide order dated 10.08.1990 passed by this Hon’ble Court, and that the O.L. was appointed as the liquidator for the said purpose. 4. Learned Senior Counsel submits that M/S. Bhilwara Wooltex Limited having its registered office was situated at F88 to 93, RIICO Industrial Area, Pur Road, Bhilwara was ordered to be wound-up by this Court vide its order dated 10.08.1990 passed in S.B. Company Petition No. 12/1988 and the Official Liquidator attached to this Court was appointed as a provisional liquidator of the company in liquidation from the date of winding-up order to conduct the winding-up proceedings. This Court vide it subsequent order, dated 19.07.1991, passed in S.B. Company Petition No. 12 of 1988 appointed the Official Liquidator, as liquidator of the above company. It is also contended that the copy of the winding up order was served upon the Official Liquidator on 30.08.1990 under Section 444 of the Companies Act, 1956 read with Rule 109 of the Companies (Court) Rules, 1959. 6. Learned Senior Counsel further submits that in compliance of order dated 10.08.1990, the Official Liquidator had deputed his representative for taking over the possession of the assets of the company in liquidation vide authority letter No. BWL/1/1276 dated 07.09.1990 at the registered office situated at F-88 to 93, RIICO Industrial Area, Pur Road, Bhilwara in presence of Sh. N.K. Chhajerh, ex-director of the company in liquidation. The representative of Official Liquidator has placed a lock at the main gate of the factory premises and sealed the same. It is also contended that as per record of Official Liquidator’s office, the following persons were the directors of the company in liquidation: (i) Sh. Narendra Kumar Chhajerh, S/o. Sh. N.K. Chhajerh, ex-director of the company in liquidation. The representative of Official Liquidator has placed a lock at the main gate of the factory premises and sealed the same. It is also contended that as per record of Official Liquidator’s office, the following persons were the directors of the company in liquidation: (i) Sh. Narendra Kumar Chhajerh, S/o. Sh. M.M. Chhajerh, 86, New Fatehpura, Udaipur (Rajasthan). (ii) Sh. Dhirendra Kumar Chhajerh S/o. Sh. M.M. Chhajerh 4, Rajni Sen Road, Calcutta. (iii) Shri Ramesh Chand Mehta S/o. Sh. K.C. Mehta, Managers Flat, Orient Carpet, Manufacturers (DCM) Chhehrat, Amritsar (Punjab). 7. Learned Senior Counsel further submits that the Official Liquidator has issued notice under Rule 124 of the Companies (Court) Rules, 1959, pursuant to Section 454 of the Companies Act, 1956 for filing statement of affairs before the Official Liquidator office to the aforesaid ex-directors of the company in liquidation on 05.09.1990 and the same has been received back by the Official Liquidator on 30.11.1990. 8. Learned Senior Counsel also submits that at as per order of this Court, the entire assets namely plant and machinery etc. including Land & Building of the company in liquidation were sold to M/s. Mehandi Macs Trade private Limited of Delhi at a consideration of Rs. 83,00,000/-. The bid of the purchaser was accepted by this Court vide order dated 05.05.2005 passed in S.B. Company Application No. 04/2005 and sale confirmed vide order dated 18.07.2005 passed in S.B. Company Application No. 09/2005. 9. Learned Senior Counsel further submits that vide order dated 28.09.2005 (S.B. Company Application No.13/2005), this Court directed the Official Liquidator to invite the claims from creditors of the company in liquidation. In compliance of order dated 28.09.2005, an advertisement was published in Hindi daily news papers on 03.05.2006 also in Rajasthan Patrika all editions of Rajasthan & the Times of India (English) edition on 03.05.2006 respectively inviting claims of all the creditors of the company in liquidation by 31.05.2006. 10. Learned Senior Counsel further submits that in response to the above publication/notices the Official Liquidator received 04 (four) claims, one from secured creditor and 03 (three) from other unsecured creditors of the company in liquidation. 10. Learned Senior Counsel further submits that in response to the above publication/notices the Official Liquidator received 04 (four) claims, one from secured creditor and 03 (three) from other unsecured creditors of the company in liquidation. The claims received from creditors were adjudicated by the Official Liquidator, then a settled list of creditor in the prescribed form No. 71 pursuant to Rule 167 and 169 of the Companies (Court) Rules, 1959 was filed before this Court vide S.B. Misc. Application No. 6871/2010 and this Court has allowed the said application on 17.08.2010. 11. Learned Senior Counsel also submits that in compliance of order dated 17.08.2010, the Official Liquidator has filed an application under Rule 275/276 of the Companies (Court) Rules, 1959 for declaration of dividend before this Court and this Court vide its order dated 19.02.2013 (S.B. Company Application IA No. 614/2011) has allowed the Official Liquidator to declare the dividend to the secured creditors at the rate of 79.473% of their adjudicated claims and also allowed to open the dividend account of the company in liquidation with Punjab National Bank, Nehru Place, Jaipur and to encash the FDR’s and transfer the amount of Rs. 1,06,02,110.35 into the dividend account and also permitted the Official Liquidator to make the payment of dividend to the Secured Creditor through the account payee cheque and this Court has allowed the said application on 19.02.2013. It is also contended that in compliance of orders dated 19.02.2013, Rs. 1,06,02,110.35, has paid to RIICO towards dividend on 14.03.2013 vide cheque No. 791726. 12. Learned Senior Counsel submits that as per record available with the Official Liquidator’s office, there is only a misfeasance case pending under Section 542/543 of the Companies Act, 1956 before this Court for willful gross negligence, the company in liquidation had suffered a loss of Rs. 10,29,303.98. 13. 12. Learned Senior Counsel submits that as per record available with the Official Liquidator’s office, there is only a misfeasance case pending under Section 542/543 of the Companies Act, 1956 before this Court for willful gross negligence, the company in liquidation had suffered a loss of Rs. 10,29,303.98. 13. Learned Senior Counsel also submits that as per the provisions of Section 481 of the Companies Act, 1956, it is provided that when the affairs of the company have been completely wound-up (or when the Court is of the opinion that the liquidation cannot proceed with the winding-up of a company for want of funds and assets or for any other reason what-so-ever and it is just and reasonable circumstances of the company should be made), the Court may pass an order that the company be dissolved from the date of the order, and the company in liquidation shall be dissolved accordingly. 14. Learned Senior Counsel further submits that the action taken by the Official Liquidator of the company in liquidation were placed before this Court in several applications from time to time, and the same are available on records of this Court. It is also contended that an amount of Rs. 2,31,094/- which is lying in the fund of the company in liquidation may be transferred to Various Company’s Fund, Jodhpur. 15. Heard and perused the record. 16. This Court takes note of Section 481 and Section 550 of Companies Act 1956, as it then stood before the promulgation of the Companies Act of 2013. The said provisions read as follows: “481. Dissolution Of Company (1) When the affairs of a company have been completely wound up or when the Tribunal is of the opinion that the liquidator cannot proceed with the winding up of a company for want of funds and assets or for any other reason whatsoever and it is just and reasonable in the circumstances of the case that an order of dissolution of the company should be made, the Tribunal shall make an order that the company be dissolved from the date of the order, and the company shall be dissolved accordingly. (2) A copy of the order shall, within thirty days from the date thereof, be forwarded by the liquidator to the Registrar who shall make in his books a minute of the dissolution of the company. (2) A copy of the order shall, within thirty days from the date thereof, be forwarded by the liquidator to the Registrar who shall make in his books a minute of the dissolution of the company. (3) If the liquidator makes default in forwarding a copy as aforesaid, he shall be punishable with fine which may extend to five hundred rupees for every day during which the default continues. S.550. Disposal Of Books And Papers of Company (1) When the affairs of a company have been completely wound up and it is about to be dissolved, its books and papers and those of the liquidator may be disposed of as follows, that is to say : (a) in the case of a winding up by the Tribunal, in such manner as the Tribunal directs ; (b) in the case of a members' voluntary winding up, in such manner as the company by special resolution directs ; and (c) in the case of a creditors' voluntary winding up, in such manner as the committee of inspection or, if there is no such committee, as the creditors of the company may direct. (2) After the expiry of five years from the dissolution of the company, no responsibility shall rest on the company, the liquidator, or any person to whom the custody of the books and papers has been committed, by reason of any book or paper not being forthcoming to any person claiming to be interested therein. (3) The Central Government may, by rules, - (a) prevent for such period (not exceeding five years from the dissolution of the company) as the Central Government thinks proper, the destruction of the books and papers of a company which has been wound up and of its liquidator ; and (b) enable any creditor or contributory of the company to make representations to the Central Government in respect of the matters specified in clause (a) and to appeal to the Tribunal from any direction which may be given by the Central Government in the matter. (4) If any person acts in contravention of any such rules or of any direction of the Central Government thereunder, he shall be punishable with imprisonment for a term which may extend to six months, or with fine which may extend to fifty thousand rupees, or with both.” 17. (4) If any person acts in contravention of any such rules or of any direction of the Central Government thereunder, he shall be punishable with imprisonment for a term which may extend to six months, or with fine which may extend to fifty thousand rupees, or with both.” 17. This Court observes that the procedure as laid down under the law has been duly followed by the O.L. in the process of liquidation of the Company in question. 18. This Court directs that on the basis of the dissolution report of the Official Liquidator and the facts mentioned therein, the Company, i.e. M/s.Bhilwara Wooltex Limited be dissolved in accordance with Section 481 of the Companies Act, 1956 (as it then stood), and the amount of Rs.2,31,094 + interest, which, as mentioned in the application, is lying in the funds of the company in liquidation as on 29.03.2022, be transferred to the Various Company’s Fund as maintained by the Official Liquidator for incurring various liquidation expenses. 19. This Court further directs the Registrar of Companies, Jaipur to remove the name of M/s. Shikhar Polytex Limited (in Liquidation) from the Register of his office. 20. This Court, on the basis of oral request made by Official Liquidator, permits the Official Liquidator to publish a notice in news papers in Hindi and English for disposing the record of Company in liquidation under Section 550 (1) (a) of the Companies Act, 1956 for calling the objection, if any, from all concerned within a period of 30 days from today, and dispose of the record accordingly. 21. In view of the above, the present company petition stands disposed of. All pending applications also stand disposed of.