The Court dissolved the petitioner company after the Official Liquidator reported a lack of recoverable assets and inability to proceed with winding up due to want of funds, applying the Supreme Court's decision in Meghal Homes.
The petitioner company is dissolved and the Official Liquidator is discharged.
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$~CP-18
CORAM:
HON'BLE MR. JUSTICE JAYANT NATH
JAYANT NATH, J. (ORAL)
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CO.PET.76/2008
one Mr. Rajesh Kumar stated that he had purchased the said flat/premises from Sh. Praveen Chaudhary and produced a copy of relevant sale deed/title deed dated 21.04.2005 along with the copy of previous chain of documents with regard to the complete transaction of sale/purchase of the aforesaid premises/flat. Another office, noted to be the previous Registered Office of the said Company at property No 248, bearing Khasra No. 210, measuring 1700 Sq. Feet in the Lal Dora of village, Hauz Rani, New Delhi was also visited by the team of the OL. The possession of the same could not be taken over as the said company had sold the 1st Floor measuring 1700 Sq. Feet (Approx) on 29.03.2000.
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off vide order dated 22.11.2017 holding the respondents guilty of noncompliance of the provisions of Section 454(1) of the Act and imposing a cost of Rs.25,000/- on each of the directors.
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advances towards shares of the said Company in IPTL. The said application was allowed by order of this court dated 09.02.2016.
“When the affairs of the Company had been completely wound up or the court finds that the Official Liquidator cannot proceed with the winding up of the Company for want of funds or for any other reason, the court can make an order dissolving the Company from the date of that order. This puts an end to the winding up process ”.
JAYANT NATH, J.
APRIL 4, 2018/ ss
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CO.PET.76/2008
1 issue framed by the court
Whether the company in liquidation can be dissolved when the affairs are completely wound up or there is want of funds.
Colour shows how this judgement treated each authority
Meghal Homes (P) Ltd Vs Shree Niwas Girni K.K. Samiti and Ors.Applied¶26
(2007) 7 SCC 753 · Who else cites this
4 provisions across 1 enactments
Simco Scientific Instruments Marketing Co. Ltd.
Official Liquidator
Jayant Nath
As recorded by the court registry
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