Can anyone provide me draft of Notice and winding up petition for the company, also provide procedure and rules and regulations in respect of winding up proceedings.
DEFENSE ADVOCATE.-firmaction@g (POWER OF DEFENSE IS IMMENSE ) 03 October 2011
get a good book in this matter and still practical expereince needed even to get notice issued.
Nadeem Qureshi (Advocate/ firstname.lastname@example.org) 03 October 2011
GENERAL CIRCULAR NO. 54/2011
F. No. 35/6/2011/Insolvency
Government of India
Ministry of Corporate Affairs
5th Floor, ‘A’ Wing, Shastri Bhavan,
Dr. R.P. Road, New Delhi-110001
Dated 26th July 2011
All Regional Directors
All Official Liquidators
Subject: Pro-active action in case of winding up petitions.
It has been noticed that winding up petitions are filed by creditors, stake
holders and management before Hon’ble High courts without providing full
information. This leads to waste of valuable time of Hon’ble Court and also delays
completion of winding up process as well. In order to speed up the winding up
process and to introduce best international practices the winding up process,
following actions will be taken by concerned OL:-
(a) OLs shall post one of the staff members to the Company Court to
keep track of all cases where applications have been filed for winding
up, but orders for winding up are yet to be issued by the Court.
(b) For all cases pending till date and in future as well, information shall
be obtained by OL from “institution register” maintained in High Court
and action as below must be taken in all cases.
(c) In each case the OL will file an application praying to the Court to
direct the management of the company to submit following
information duly verified by a chartered accountant:-
(i) The current addresses of the Directors, Company Secretary
and Statutory Auditor of the company;
(ii) Location and physical details of each immovable asset of the
company along with its current valuation;
(iii) The details of all the debtors and creditors with their
complete addresses and occupations;
(iv) The details of each movable asset of the company along with
(v) The details of workmen/employees and any amount
outstanding to them;
(vi) The details of all movable and immovable assets held in the
personal names of director by providing its location, value,
dates of acquisition and nature of right, title and interest
(vii) Copies of last three years audited balance sheet of the
(viii) The details of location of the registered office of the
(d) RDs will ensure that in all pending cases, the applications are moved by
OL before the Court before the next date of hearing and in all new
cases, these are filed before the Hon’ble Court before the second
hearing of the case.
(e) RDs will ensure that a standard draft is prepared by them after
taking legal advice and the same is used in all cases by OLs.
and i will try to my best to provide a copy of petition as soon as possible
Foram Shah (Sole Proprietor) 17 April 2012
I propose to file a winding up petition against a pvt. ltd. co. as it owes the refund of security deposit to my client and refuses tp pay so. I have already served a winding up notice on the party under section 434. They have replied to the notice but no defence as regards the winding up of the company.
Should i reply back to the notice or just go ahead with filing of the winding up petition in the Court.
Also which court shall have teh jurisdiction?? High Court or Small Causes Court??
Kindly provide assistance.