JUDGMENT

CO. APPL. 641/2023 (UNDER SECTION 481 OF THE COMPANIES ACT, 1956)

1. This is an application filed by the Official Liquidator under Section 481 of the Companies Act, 1956[The Act] read with Rule 9 of the Companies (Court) Rules, 1959[Rules], praying that the respondent company (in liquidation) be dissolved and the Official Liquidator be discharged as its Liquidator.

2. This application for dissolution of the company (in liquidation) has been moved in the present Company Petition preferred under Section 433(1)(e) read with Sections 434 and 439 of the Companies Act, 1956 by the petitioners, who sought winding up of the respondent company on the ground that the respondent company was unable to pay its debts amounting to Rs. 28,61,469/- despite serving of statutory notice dated 22.06.2009.

3. This Court in exercise of its jurisdiction vide order dated 05.08.2011, directed the respondent company to be wound up provisionally and an Official Liquidator attached to this court was appointed as the Provisional Liquidator of the company. Furthermore, the respondent company, its Directors, officers, employees, authorised representatives were restrained from selling, alienating, encumberin