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DHARMESH SHARMA
IB & W Communication P. Ltd. – Appellant
Versus
Amrit World Wide Ltd. – Respondent
JUDGMENT
CO.APPL. 822/2023
1. The present application has been moved by the Official Liquidator (OL) under Section 481 of the Companies Act, 1956 [The Act
2. The learned counsel for the Official Liquidator, Mr. D. Bhattacharya, submits that the Official Liquidator has moved this application as ultimately, he proved unable to procure any asset amenable to liquidation or realization. Thus, it is stated by the learned counsel for the Official Liquidator that the matter is ripe for ordering dissolution.
3. The Official Liquidator had filed an application bearing CA No. 1611/2009 under Sections 542 & 543 of the Act, for the purposes of fixing personal liability unto the Ex-Directors. It is submitted by the learned standing counsel that during the pendency of the said application, the two Ex- Directors, namely, Sh. Bhagwan Gupta and Smt. Sushila Gupta had expired. In any event, the said application was heard at length by this Court and was dismissed vide order dated 21.02.2023.
4. As per the record maintained by the Registrar of Companies, the Registered Office of the Company (in liquidation) was situated at C-109/3, Naraina Industrial Area, Phase-I, New Delhi, which property was not found t
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 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 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 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 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 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 when it is just and reasonable in the circumstances o....
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