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ANIRUDDHA P. MAYEE
OL of M/s Gujarat Filaments Limited (In Liqn) – Appellant
Versus
NA – Respondent
ORDER :
1. Heard Mr. D.M. Jayswal, learned advocate appearing for the applicant.
2. By this report under section 481 of the Companies Act, 1956, the Official Liquidator has prayed as under :
(B) This Hon’ble Court may be pleased to permit the Official Liquidator to make payment towards professional fees of Rs.1,500/- to M/s. P.C. Rathod & Co., Chartered Accountants towards preparation of Auditor’s Certificate from the common pool Account maintained by the Office of the Official Liquidator since there is no fund lying in the account of the company in liquidation;
(C) This Hon’ble Court may be pleased to order that M/s. Gujarat Filaments Ltd. (in Liqn.) may be dissolved in terms & provisions of Section 481 of the Companies Act, 1956 and the Official Liquidator attached to this Hon’ble Court may be discharged and relieved as Liquidator of M/s. Gujarat Filaments Ltd. (In Liqn.).
(D) This report filed for such other and further orders and directions as may be just deem
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 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 in liquidation.
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 dissolve a company when its affairs have been completely wound up or when the Official Liquidator cannot proceed w....
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