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PRATHIBA M. SINGH
Delfin Expo Mart – Appellant
Versus
Royal Regency Fassions Pvt. Ltd. & Others – Respondent
JUDGMENT
Prathiba M. Singh, J. This hearing has been done through hybrid mode.
CO.APPL.343/2023 in CO.PET.190/2013
2. The present application has been moved by the Official Liquidator (OL) under Section 481 of the Companies Act, 1956, seeking dissolution of the Company (In Liqdn.), namely, M/s Royal Regency Fassions Pvt. Ltd., which was directed to be taken over by the Official Liquidator attached to this Hon'ble Court as its Provisional Liquidator on 30th July, 2014.
3. Mr. Bhattacharya, ld. counsel for the Official Liquidator has made his submissions in the application.
4. The Ld. Counsel for the Official Liquidator, Mr. D. Bhattacharya, submits that the Official Liquidator has moved this application as ultimately he could not lay his hands on any asset which could be liquidated nor could make any realization thereof. He states that post the appointment of the official liquidator by this Hon'ble Court, though certain seizures were made, like the registered office of the Company (In Liqdn.), but later it was found to be not belonging to the Company (In Liqdn.) and rather that property was the personal asset of the Ex-Directors, and which again was mortgaged to Bank of Baroda. Lat
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 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 dissolve a company when its affairs have been completely wound up or when the Official Liquidator cannot proceed w....
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 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 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 ....
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 ....
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