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PRATHIBA M. SINGH
Images Consumer Media Pvt. Ltd. – Appellant
Versus
Horse Shoe Retail Holding Pvt. Ltd. – Respondent
JUDGMENT
Prathiba M. Singh, J. (Oral)--This hearing has been done through hybrid mode.
CO.APPL.377/2023 in CO.PET.418/2016
2. This is an application filed by the Official Liquidator seeking dissolution of the company. Ms. Sangeeta, ld. Counsel for the Official Liquidator submits that none of the immovable assets of the company - Horse Shoe Retail Holding (P) Ltd. and its sister concern SPA Luxury Lifestyle Ltd. were in the name of the company and the only assets, which the company owned, were some movable items, which were also sold in the nominal amount.
3. This application has been filed by the Official Liquidator (OL) under Section 481 of the Companies Act, 1956 read with Rule 9 of the Companies (Court) Rules, 1959, praying that Company (in Liqn.) i.e., the Respondent - Horse Shoe Retail Holding Pvt. Ltd. be dissolved and the OL be discharged from the duties of a liquidator.
4. Vide order dated 4th October, 2018, the OL attached to this Court was appointed as the Provisional Liquidator of the Company, with directions to take charge of all assets, records and books of accounts belonging to the Company (in Liqn.). The citations were published on 4th July, 2019 in the newspapers "
The central legal point established in the judgment is the authority of the court to order the dissolution of a company under Section 481 of the Companies Act, 1956 when the winding up proceedings ar....
The lack of assets for realization in the interest of the creditors can be a ground for ordering the dissolution of a company under Section 481 of the Companies Act, 1956.
The central legal point established in the judgment is the authority of the Court to order the dissolution of a company when the Official Liquidator is unable to realize any assets to pay off the com....
The court can order the dissolution of a company under Section 481 of the Companies Act, 1956 when the Official Liquidator cannot proceed with the winding up of the company due to lack of funds or as....
The central legal point established in the judgment is the application of Section 481 of the Companies Act, 1956 for the dissolution of a company in liquidation.
The main legal point established in the judgment is the interpretation and application of Section 481 of the Companies Act, 1956, allowing for the dissolution of a company when the affairs have been ....
The main legal point established in the judgment is that under Section 481 of the Companies Act, 1956, a company can be dissolved when the affairs of the company have been completely wound up or when....
The lack of funds and assets to proceed with the winding up proceedings justifies the dissolution of a company under Section 481 of the Companies Act, 1956.
The court can order the dissolution of a company under Section 481 of the Companies Act, 1956, when the affairs of the company have been completely wound up or the Official Liquidator cannot proceed ....
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