Bombay High Court
OFFICIAL LIQUIDATOR OF ROTOFLOW POLYMERS PVT. LTD. (IN LIQUIDATION)versusM/S PERFECT POLYMERS FZ LLC (PETITIONER)
- Decided
- Disposal
- DISPOSED OFF
- Bench
- ARIF S DOCTOR
Holding
Continuation of liquidation where a company has no assets or claims is futile, and the company should be dissolved.
Summary
The High Court considered a series of Official Liquidator reports seeking the dissolution of thirty companies under the Companies Act, 1956. Each report indicated that the respective company had no assets, funds, or recoverable debts and that no claims had been filed against them. The petitioners argued that continuing the liquidation process would be futile and serve no purpose. The Court examined the submissions and the reports, finding that the absence of assets and claims rendered further liquidation unnecessary. Consequently, the Court allowed the Official Liquidator’s reports and ordered the dissolution of the companies, disposing of the petitions.
Issues considered
- Whether a company with no assets, funds, or recoverable debts and no claims filed should be dissolved under the Companies Act, 1956.
- Whether continuation of the liquidation process in such circumstances constitutes a futile exercise.
Legislation cited
Subjects
- liquidation
- dissolution
- Companies Act 1956
- official liquidator
- no assets
- no claims
- futility
Judgment
1/13 9-30-OLR-44-26 & ORS.DOC
Digitally
signed by
MEERA
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
MEERA MAHESH
MAHESH JADHAV
JADHAV Date: ORDINARY ORIGINAL CIVIL JURISDICTION
2026.02.23
14:10:52
+0530 (9) OFFICIAL LIQUIDATOR REPORT NO. 44 OF 2026
IN
COMPANY PETITION NO. 676 OF 2016
In the matter of the Companies Act
1956
And
In the matter of Rotoflow Polymers Pvt.
Ltd. (in Liquidation)
M/s Perfect Polymers Fz Llc ...Petitioner
AND
(10) OFFICIAL LIQUIDATOR REPORT NO. 66 OF 2026
IN
COMPANY PETITION NO. 205 OF 2011
In the matter of the Companies Act
1956
And
In the matter of Brier Systems Pvt. Ltd.
(in Liquidation)
Mr. Nilesh Modi Priprietor Of Manusha Enterprises Ltd. ...Petitioner
AND
(11) OFFICIAL LIQUIDATOR REPORT NO. 67 OF 2026
IN
COMPANY PETITION NO. 660 OF 2015
In the matter of the Companies Act
1956
And
Meera Jadhav
2/13 9-30-OLR-44-26 & ORS.DOC
In the matter of Dynamic Beverages Pvt.
Ltd. (in Liquidation)
Ashok Mohansing Bajaj, M/s Adarsh Associates ...Petitioner
AND
(12) OFFICIAL LIQUIDATOR REPORT NO. 68 OF 2026
IN
COMPANY PETITION NO. 684 OF 2014
In the matter of the Companies Act
1956
And
In the matter of Innotech Polyfabriks
Limited (in Liquidation)
M/s. Aditya Polymers And Chemicals (i) Pvt. Ltd. ..Petitioner
AND
(13) OFFICIAL LIQUIDATOR REPORT NO. 69 OF 2026
IN
COMPANY PETITION NO. 727 OF 2015
In the matter of the Companies Act
1956
And
In the matter of Ganpati Multi Speciality
Medicare Pvt. Ltd. (in Liquidation)
Bhalani Biomedicals Pvt. Ltd. ...Petitioner
AND
(14) OFFICIAL LIQUIDATOR REPORT NO. 70 OF 2026
IN
COMPANY PETITION NO. 156 OF 2014
Meera Jadhav
3/13 9-30-OLR-44-26 & ORS.DOC
In the matter of the Companies Act
1956
And
In the matter of Seeyen Engineering
Company Pvt. Ltd. (in Liquidation)
Kotak Mahindra Bank Ltmited ...Petitioner
AND
(15) OFFICIAL LIQUIDATOR REPORT NO. 71 OF 2026
IN
COMPANY PETITION NO. 382 OF 2015
In the matter of the Companies Act
1956
And
In the matter of Metro Mumbai
Infradeveloper Pvt. Ltd.
(in Liquidation)
Real Time Interactive Media Pvt. Ltd ...Petitioner
AND
(16) OFFICIAL LIQUIDATOR REPORT NO. 72 OF 2026
IN
COMPANY PETITION NO. 549 OF 2012
In the matter of the Companies Act
1956
And
In the matter of Vijaya Housing
Developers Pvt. Ltd. (in Liquidation)
Sandeep Steels ...Petitioner
Meera Jadhav
4/13 9-30-OLR-44-26 & ORS.DOC
AND
(17) OFFICIAL LIQUIDATOR REPORT NO. 73 OF 2026
IN
COMPANY PETITION NO. 1218 OF 2015
In the matter of the Companies Act
1956
And
In the matter of Sai Prasad Media Pvt.
Ltd. (in Liquidation)
M/s. Planetcast Media Services Limited ...Petitioner
AND
(18) OFFICIAL LIQUIDATOR REPORT NO. 74 OF 2026
IN
COMPANY PETITION NO. 278 OF 2016
In the matter of the Companies Act
1956
And
In the matter of E-cognosys Information
Systems Pvt. Ltd. (in Liquidation)
Vinay Dattatray Mokashi …Petitioner
AND
(19) OFFICIAL LIQUIDATOR REPORT NO. 75 OF 2026
IN
COMPANY PETITION NO. 351 OF 2013
In the matter of the Companies Act
1956
And
In the matter of Healthema India Pvt.
Meera Jadhav
5/13 9-30-OLR-44-26 & ORS.DOC
Ltd. (in Liquidation)
M/s Healthema Llc ...Petitioner
AND
(20) OFFICIAL LIQUIDATOR REPORT NO. 76 OF 2026
IN
COMPANY PETITION NO. 992 OF 1998
In the matter of the Companies Act
1956
And
In the matter of New Italian Textile
Processors Pvt. Ltd. (in Liquidation)
Rajendra Chinubhai Shah Sole Proprietor Of M/s Raj Product ...Petitioner
AND
(21) OFFICIAL LIQUIDATOR REPORT NO. 77 OF 2026
IN
COMPANY PETITION NO. 1287 OF 1999
In the matter of the Companies Act
1956
And
In the matter of Orbit Polyster Ltd. (in
Liquidation)
Parekh Marketing Ltd. ...Petitioner
AND
(24) OFFICIAL LIQUIDATOR REPORT NO. 80 OF 2026
IN
COMPANY PETITION NO. 618 OF 2006
Meera Jadhav
6/13 9-30-OLR-44-26 & ORS.DOC
In the matter of the Companies Act
1956
And
In the matter of Ameya Trade Impex
Pvt. Ltd. (in Liquidation)
M/s. Haria Exports Ltd. ...Petitioner
(25) OFFICIAL LIQUIDATOR REPORT NO. 81 OF 2026
IN
COMPANY PETITION NO. 187 OF 2015
In the matter of the Companies Act
1956
And
In the matter of Creative Mark
Engineering Solutions Pvt. Ltd.
(in Liquidation)
Rohit And Company ...Petitioner
AND
(26) OFFICIAL LIQUIDATOR REPORT NO. 82 OF 2026
IN
COMPANY PETITION NO. 114 OF 2006
In the matter of the Companies Act
1956
And
In the matter of Carewell Printers Pvt.
Ltd. (in Liquidation)
Getwell Board And Paper Pvt. Ltd. ...Petitioner
AND
Meera Jadhav
7/13 9-30-OLR-44-26 & ORS.DOC
(27) OFFICIAL LIQUIDATOR REPORT NO. 83 OF 2026
IN
COMPANY PETITION NO. 980 OF 2014
In the matter of the Companies Act
1956
And
In the matter of Everest Photo Offset Ltd.
(In Liquidation)
Shambhulal A. Shah And Company ...Petitioner
AND
(29) OFFICIAL LIQUIDATOR REPORT NO. 86 OF 2026
IN
COMPANY PETITION NO. 620 OF 2016
In the matter of the Companies Act
1956
And
In the matter of Wine Soc. Of India Pvt.
Ltd. (in Liquidation)
Direct Wines Limited. ...Petitioner
AND
(30) OFFICIAL LIQUIDATOR REPORT NO. 87 OF 2026
IN
COMPANY PETITION NO. 459 OF 2014
In the matter of the Companies Act
1956
And
In the matter of Pinnacle Print Pvt. Ltd.
(in Liquidation)
Rakesh N. Mehta ...Petitioner
Meera Jadhav
8/13 9-30-OLR-44-26 & ORS.DOC
-----
Mr. Anirudh Hariani for Official Liquidator.
Mr. Satyajit Roul, Official Liquidator present.
Mr. Chetan Shelke and Mr. J. P. Gautam, Deputy Official Liquidator present.
Mr. Asadulla Thangal i/b AZB & Partners for Petitioners in CP/620/2016.
Mr. Deepa Punde i/b Mr. Sachin Punde for Petitioner in CP/684/2014
-----
CORAM : ARIF S. DOCTOR, J.
DATE : 20th FEBRUARY 2026
P.C.
1. The captioned Official Liquidator’s Reports seek dissolution of the
companies in question, particulars of which are as follows:
Sr. OLR No. Date of winding Funds available Claims
Nos. up / provisional
liquidator
appointment
9 OLR No. 44/2026 Company Preliminary Claims invited;
(Rotoflow ordered to be expenses of Rs. no claims
Polymers Pvt. wound up on 10,000/- received.
Ltd.) 13 July 2018 deposited by the However, one
[Para 1 @ 1] Petitioner, which suo motu claim
are to be returned of GST
to Petitioner. Department
[Para 11-13 @ received. [Para
5-6] 7 @ 4]
10 OLR No. 66/2026 Company Nil [Para 9 @ 6] Claims invited;
(Brier Systems ordered to be no claims
Pvt. Ltd.) wound up by received
order dated [Para 10 & 11
12 April @ 6]
2018.
Meera Jadhav
9/13 9-30-OLR-44-26 & ORS.DOC
[Para 1 @ 1]
11 OLR No. 67/2026 Company NIL Claims invited;
(Dynamic ordered to be [Paras 10 & 11 @ no claims
Beverages Pvt. wound up on 6 & 7] received. One
Ltd.) 4 January suo motu claim
2018. earlier received
[Para 3 @ 2] – adjudicated
and paid.
[Paras 7 @ 5 &
12 @ 7]
12 OLR No. 68/2026 Company NIL Claims invited;
(Innotech ordered to be [Para 8 @ 5] no claims
Polyfabriks Ltd.) wound up on received.
21 November [Paras 6 & 7 @
2017. 4 & 5]
[Para 1 @ 1]
13 OLR No. 69/2026 Company Rs.1,48,372/-, Claims invited;
(Ganpati Multi ordered to be which is to be no claims
Specialty wound up on transferred to received.
Medicare Pvt. 5 January Companies [Para 7 @ 4]
Ltd.) 2018. Liquidation
[Para 1 @ 1] Account
[Para 6 @ 4]
14 OLR No. 70/2026 Company NIL Claims invited;
(Seeyen ordered to be [Para 7 @ 5] no claims
Engineering wound up on received
Company Pvt. 2 February [Para 8 @ 6]
Ltd.) 2017.
[Para 1 @ 1]
15 OLR No. 71/2026 Company NIL. Claims invited;
(Metro Mumbai ordered to be [Para 6 @ 5] no claims
Infradeveloper wound up on received
Pvt. Ltd.) 12 January [Para 7 @ 5]
Meera Jadhav
10/13 9-30-OLR-44-26 & ORS.DOC
2018.
[Para 1 @ 1]
16 OLR No. 72/2026 Company NIL. Claims invited;
(Vijaya Housing ordered to be [Para 6 @ 7] no claims
Pvt. Ltd.) wound up on received
13 January [Para 7 @ 7]
2016.
[Para 1 @ 1]
17 OLR No. 73/2026 Company NIL. Claims invited;
(Sai Prasad Media ordered to be [Para 6 @ 4] no claims
Pvt Ltd.) wound up on received
3 May 2018. [Para 7 @ 4]
[Para 1 @ 1]
18 OLR No. 74/2026 Company NIL. Claims invited;
(e-Cognosys ordered to be [Para 6 @ 4] no claims
Information wound up on received
Systems Pvt. Ltd.) 26 April [Para 7 @ 5]
2018.
[Para 1 @ 1]
19 OLR No. 75/2026 Provisional Rs.94/-, which is Claims invited;
(Healthema India liquidator – 1 to be transferred no claims
Pvt. Ltd.) April 2014 to Companies received.
Company Liquidation [Para 5 @ 3]
ordered to be Account
wound up on [Para 7 @ 4]
16 December
2014.
[Para 1 @ 1]
20 OLR No. 76/2026 Company Preliminary No claims
(New Italian ordered to be expenses of Rs. invited; no suo
Textile Processors wound up on 5,000/- deposited motu claims
Pvt. Ltd.) 16 June by the Petitioner, received.
2007. which are to be [Para 9 @ 5]
Meera Jadhav
11/13 9-30-OLR-44-26 & ORS.DOC
[Para 1 @ 1] returned to
Petitioner.
[Para 7 @ 4]
21 OLR No. 77/2026 Company Rs. 10,064/- out Claims invited;
(Orbit Polyester ordered to be of which Rs. no claims
Ltd.) wound up on 5,000/- to be received.
7 February returned to [Para 8 @ 4]
2007. Petitioner
[Para 1 @ 1] (preliminary
expenses
deposited by it)
and balance Rs.
5,064/- to be
transferred to the
Companies
Liquidation
Account
[Para 10 @ 5]
24 OLR No. 80/2026 Company NIL Claims invited;
(Ameya Trade ordered to be [Para 12 @ 6] no claims
Impex Pvt. Ltd.) wound up on received
2 February [Paras 10 & 11
2017. @ 5 & 6]
[Para 1 @ 1]
25 OLR No. 81/2026 Company NIL Claims invited;
(Creative Mark ordered to be [Para 10 @ 5] no claims
Engineering wound up on received
Solutions Pvt. 13 April [Para 12 @ 5]
Ltd.) 2017.
[Para 1 @ 1]
26 OLR No. 82/2026 Company Preliminary Claims invited;
(Carewell Printers ordered to be expenses of Rs. no claims
Pvt. Ltd.) wound up on 10,000/- received
Meera Jadhav
12/13 9-30-OLR-44-26 & ORS.DOC
19 July 2010. deposited by the [Paras 14 & 15
[Para 1 @ 1] Petitioner, which @ 6]
are to be returned
to Petitioner.
[Para 12 @ 5]
27 OLR No. 83/2026 Company NIL Claims invited;
(Everest Photo ordered to be [Para 10 @ 6] no claims
Offset Ltd.) wound up on received
13 April [Paras 8 & 9 @
2017. 6]
[Para 1 @ 1]
29 OLR No. 86/2026 Company NIL Claims invited;
(Wine Soc. of ordered to be [Para 6 @ 8] no claims
India Pvt. Ltd.) wound up on received
4 May 2018. [Para 5 @ 8]
[Para 1 @ 1]
30 OLR No. 87/2026 Company Rs. 54,056/- out Claims invited;
(Pinnacle Prints ordered to be of which Rs. no claims
Pvt. Ltd.) wound up on 50,926 are received.
20 March prayed to be paid However, 3 suo
2015. to security motu claims
[Para 2 @ 1] agency, viz. Rapid received.
Guard Force. [Para 16 @ 12]
The balance Rs.
3,130/- prayed to
be transferred to
the Companies
Liquidation
Account
[Paras 11 to 14
and 17 @ 9
onwards]
Meera Jadhav
13/13 9-30-OLR-44-26 & ORS.DOC
2. Mr. Hariani submits that, the reason for dissolution is that the Companies
do not have any funds or assets and /or recoverable debts. He further points out
that though claims had been invited, no claims have been received and thus it
would be of no use to continue with liquidation process.
3. Having heard learned counsel and having perused the Official Liquidator
Reports, I find merit in the submissions made, the Official Liquidator has set out
that the Company does not have any funds or assets and /or recoverable debts
therefore, the continuation of the liquidation process would be an exercise in
futility and would endeavor to the benefits of none.
4 Hence the Official Liquidator Reports are accordingly allowed and
disposed of.
[ARIF S. DOCTOR, J.]
Meera Jadhav
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