Internship Experience @ Office of Official Liquidator, New Delhi: When a Company is Wound-up

Application Procedure and Location

The Office of the Official Liquidator (Under the ministry of corporate affairs) attached to the High court of Delhi is located at the heart of Khan Market, New Delhi on the 8th floor of the multi-storeyed building called Lok Nayak Bhavan.

Getting there was easy, thanks to wonderful connectivity through metros and buses but getting the chance to go there required series of rituals that usually all desperate interns had to go through. E-mails, reminders, calls and then some more calls.

I mailed my updated CV along with a cover letter in the month of April at [email protected]

Usually you will not receive any acknowledgement of the same so feel free to make a call (011)24693394 or 24693393. Don’t worry, HR will not start a telephonic interview with you.

The irony is, no matter which college you are from, you need to have a good CV to get good internship and you won’t have a good CV unless you do good internship so it’s the vicious circle where your first good internship based on a good CV is an oxymoron. Sounds confusing Eh ? Thus in order to get good internship , as they say, not only you need to have good work but a better (Net)work.

Role of The Official Liquidator

Well, As you might be aware that the role of official liquidator comes into play when a company is ordered to be wound up by the High Court.

The Official Liquidator attached to the said High Court takes possession of the company’s assets, books of accounts, etc. and liquidates the company as per the orders.

And they are paid handsomely for this job. Thus, in short, When .

Timings and work atmosphere

After all the corporate culture law firm internships, which make sure to extract the last drop of sweat from  your body, working under the protection of the government of India was a sweet realization and an eye opener. Expected time to report at the office is 9:30 but varies depending on your relations with the Deputy OL.

You are supposed to work ( read stay in office) till 6:00 but  are allowed to leave early depending on your bus schedule or distance from the office. So Although I stayed in a PG near Khan Market, I convinced them that I come from the other pole near Rithala.

It was a 5 day’s week and the only time I saw the employees actively running around here and there was to confirm the rumour whether the  new government was really planning to make all government offices 6 day’s week.

We had one hour lunch break where you can always take a stroll in the streets of Khan Market and Savour Khan Chacha’s Rolls. The building has its own canteen on 9th floor, where the rates are very “Parliamentarian” but the variety of food disappoints.

Work description

The hall of employees was divided into several Chambers and I was the only law person in my cell called Technical cell-IV. Others were mostly Chartered accountants.

Interns are usually allotted work under a Joint Technical Assistant (JTA) and the kind of work includes drafting of petition for voluntary winding up of the companies, recording of statement of the director of the companies who always blamed other directors or refused to give any substantial information at all, estimation of employee’s genuine claims and Research & miscellaneous drafting under the relevant provisions for the winding up of a company under the Companies Act 1956.

Sometimes you might also be asked to just download the judgements of last month and prepare a list of cases due next month.

I joined the office in the month of June, so I could not get the opportunity to go to the courts which remained closed at that time. If you get the chance to go to the courts, that will be a bonus point.

Stipend

Although there was no stipend but the experience and the atmosphere was totally worth it. Random treats from someone or the other is a common thing at the office. You will not regret spending a month there.

The Most Challenging Task

The most difficult task was to make your worksheet on day to day basis of the work you have done each day from the date of joining till the date of receiving the certificate.

They will not tell you this in the beginning of your internship but only when you will go to ask for the certificate on the last day. So keep a tab of all your work from the Day One of your internship.

I had to find and turn the heaps of files to see the name of companies that I worked on and got my worksheet Signed by JTA, who was very sweet and helpful and The Official Liquidator, who was very generous and accessible person.

It was a pleasant experience overall and the amount of exposure and learning was very helpful in understanding the practical aspects of dealing with clients and experience of working in a body under the ministry of corporate affairs was priceless.

The website is HERE.

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