V.V.S. Rao, J. - (1.)THIS application is filed under Section 468 of the Companies Act, 1956, ("the Companies Act", for brevity), seeking a direction to respondents to deliver possession of debtors' ledger for 1995 -96 and other books of account and records of the company to the applicant. The application is filed by the official liquidator (OL) attached to this court acting as liquidator of M/s. Safe Pack Polymers Ltd. (in liquidation). The first respondent is ex -managing director and respondents Nos. 2 and 3 are former directors of the company.
(2.)THE affidavit filed by the official liquidator in support of judges summons shows that the applicant -company was directed to be wound up by order dated April 29, 1999, in C.P. No. 69 of 1997. The official liquidator attached to this court was appointed as liquidator. He issued notices dated May 15, 1999, under sections 454 and 455 of the Companies Act, 1956, to the respondents requiring them to file statement of affairs (SoA), deliver assets, books of account and records of the company. Later he took possession of the assets and records available at the premises of the company situated at Nalgonda as well as Hayathnagar. During the verification of the statement of affairs under the head "Trade Debtors", it was noticed that M/s. Water -base Ltd., has to pay an amount of Rs. 3,24,000 to the company. The official liquidator therefore filed C.A. No. 614 of 2001 under Section 446(2)(b) of the Companies Act, 1956, for recovery of the said amount. During the hearing of the said application it transpired that the records taken over by the liquidator do not contain the debtors' ledger for 1995 -96. Due to nonavailability of the same and other records, the official liquidator is not in a position to pursue recoveries and therefore the respondents may be directed to produce debtors ledger and other records.
After service of notice, respondents Nos. 1 and 2 entered appearance through a counsel and respondent No. 3 remained ex parte. However, the first respondent filed counter affidavit on behalf of the other respondents also. It is stated that the company established in 1987 for manufacturing poly propylene sacks used by cement industry, functioned well up to 1990. However, due to direct interference of ultra -left outfits, the company could not be run and unit became sick. In 1995, factory was shifted from Pedda -kaparthi village (Chityal mandal in Nalgonda district) to Hayathnagar, Hyderabad. After shifting part of the machinery, the directors were threatened and unit was to be abandoned. But the claims of IDBI and 150 workers were settled by the company.

(3.)IT is further stated that the possession of the assets of the company were handed over to the official liquidator. On July 23, 1999 and August 19, 1999, the first respondent also entered into one -time settlement (OTS) and repaid debt by raising personal loans. A chartered accountant prepared statement of affairs which was accepted by the official liquidator in 1999 along with relevant records. The first respondent has nothing left with him in his possession and all the assets and available records were handed over to the official liquidator in 1999, by authorised representative, Sri Venumadhava Varma, who handed over the records including the assets to staff of official liquidator. It is not true to state that recovery of debt is being hindered owing to missing of debtors' ledger for 1995 -96. Asking for the debtors' ledger for 1995 -96 in 2007 is unreasonable and the same cannot be complied with as the respondents are left with no records. The official liquidator has taken over specific records and statement of affairs was submitted by the first respondent.