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BHARGAV D. KARIA
OL of M/s Yogi Polyster Ltd (In Liqn) – Appellant
Versus
NA – Respondent
ORDER :
1. Heard learned advocate Ms. Bhoomi Thakore for the applicant.
2. By this report under Section 481 of the Companies Act, 1956, the official Liquidator has prayed for dissolution of the company, named, M/s. Yogi Polyester Ltd. (In Liquidation), which was ordered to be wound up vide order dated 21.07.2006 passed in Company Petition No.217 of 1998.
3. That the Official Liquidator appointed M/s. Harish P. Jain & Associates, Company Secretary at the Office of Registrar of Companies, Gujarat, Ahmedabad to inspect the records of the said company maintained by the office of the Registrar of Companies, Gujarat to find out the assets and properties, liabilities, address of Registered Office, factory premises, Secured Creditors, and names and addresses of the Ex-Directors of the company. That as per the search report after taking inspection of the records of the Registrar of Companies, Gujarat by the company secretary it was indicated that the assets and properties of the company in liquidation consisted of two premises one being registered office situated at Yogi House, Old Padra R
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 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....
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 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 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....
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