TIME PASS

              THE FREEMEN

Dear Brethren,

Passing the Buck by executive on taxpayers money;-

Time pass by executive;-

In my earlier article I had mentioned as to how the official liquidator can wound up a Company within a year. I had also mentioned that in last 60 years no company has ever been wound up in the office of Official Liquidator Chandigarh. In response I was told that office of official Liquidator has written a letter to Registrar of Companies seeking certified copies of last returns filed by companies under liquidation. This was a mere time pass as such information is already available in the office of official liquidator when they inspect the files to know names and addresses of directors and further for the reason that one office will never respond to letter from another office knowing that such letters are written under compulsion to show some thing is being done when in reality nothing is ever done by executive to conclude its affairs to their logical conclusions. Following is a copy of letter I wrote to inquire the status of information;-

"To,

CPIO,                                     19.5.2010

Office of Registrar of Companies, Jalandhar

Corporate Bhawan, Sector 27, Madhya Marg,

Chandigarh.

SUB: Information under RTI.

Dear Sir,

1.     Official Liquidator vide his letter Dt 19.3.2009 and another remainder Dt 5.10.2009 had sought certified copies of last balance sheets & annual returns of certain companies. (Copy of his letter enclosed).

2.     Kindly submit the period required to give the certified copies.

3.     It is widely believed that if bribes are paid then it will take only a week or so to give certified copies otherwise, certified copies will never be given by the office of ROC. If such be the case then there is no need to even respond to this letter. Otherwise you may give the time frame within which you can comply the one year old request of Official Liquidator sent vide his letter Dt 19.3.2009.

                                        CA K D Aggarwal

Copy to Regional Director, Northern Region Ministry of corporate affairs, PDIL Bhawan Sector 1 Noida."

In response I received a letter from the office of Regional director stating that I have stated that there is rampant corruption in the office of ROC, in my above letter to which they will make complaint against me. In reply thereof I wrote as under;-

"To,                                         23-6-2010

Regional Director, Northern Region,

Ministry of corporate affairs,

PDIL Bhawan Sector 1 Noida.

Ref; Your letter No 1166 Dt 26-5-2010

Dear Sir,

I read your letter with interest and was wondering how any action can be taken on your letter by the office of Registrar of Companies even after receipt of your letter regarding supply of certified copies of documents required by the then Assistant Official Liquidator vide his letter Dt 19.3.09 & 5.10.09.

1. I have received a letter from same officer who is now posted in ROC. (Copy enclosed). In said letter, he states, that Balance sheets are available on net and can be examined from there.  I believe that when he was assistant OL he was then also aware that the Balance sheets were available to him from the net, but from his letters Dt 19.3.2009 and remainder Dt 5.10.2009, it appears that he has come to know of it only after being posted in the office of ROC. Is it believable? 

2.   Apart from this, copies of balance sheets are already available in the office of official Liquidator. Whenever an order of winding up is received, a peon is deputed to office of ROC to take copies of annual returns for the purpose of knowing names and addresses of Ex-Directors, and to know the location and details of assets (for the purpose of their takeover and deployment of security) and liabilities (for the purpose of knowing names of creditors to claim money from them).

3.     Let me tell you an interesting incident, there was this employee of a reserved category in a government department who was always finding faults with his superiors/others, neither himself ever doing anything, nor allowing anyone else to do anything. I asked him why?

Well, the person said; “If I work, my country will progress and if my country does progress, it will not remain backward and there will be no reservations for backwards. My kin will lose jobs.”

I asked; “then what do you do?”.

He answered; “We (50% of government employees) ensure that the other half does not work? You see a government office to work efficiently does not need so many employees”. …. We are king makers.” After a few years, the same inferior was the boss of his former superior and country becomes more backward.

It will be a capital error to allow OL to retain security agencies beyond a period of 2-3 months or not to settle creditors claims beyond a period of 4 months

                                CA K D Aggarwal,

                                Centenary office"

KAPIL DEV AGGARWAL