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PRATHIBA M. SINGH
Re: Registrar of Companies – Appellant
Versus
. – Respondent
JUDGMENT
Prathiba M. Singh, J. (Oral)
1. This hearing has been done through hybrid mode.
2. A petition was filed by the Applicant/Petitioner-Salem Steels, a Partnership Firm which was claiming to be a creditor of M/s Shree Bahubali Castings Pvt. Ltd. The company had already resolved for voluntary winding up vide a Special Resolution of the Board of Directors dated 5th July, 2001, prior to the said filing of the present petition. However, the Voluntary Liquidator had passed away on 19th September, 2007 and, thereafter, vide order dated 9th April, 2008, the Official Liquidator (OL) attached to the Court was appointed as the Provisional Liquidator (PL). Vide order dated 6th February, 2014 it was clarified that the said PL ought to be actually treated as the OL and not merely as a PL as the company was already in liquidation proceedings.
3. The OL's office thereafter took possession of the property of the Company located at A-15N, SIPCOT Industrial Complex, Gummidipoondi, Chennai, Tamil Nadu-601201 on 27th September, 2008 and the same was auctioned for Rs.76,00,000/-. The possession was handed over to the auction purchaser as well.
4. The Official Liquidator obtained the Company's details f
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 when the Official Liquidator cannot proc....
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 under Section 481 of the Companies Act, 1956 when the winding up proceedings ar....
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 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 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 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 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 court determined that a company can be dissolved under Section 481 of the Companies Act when liquidation proceedings cannot continue due to lack of funds.
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