Disposed

Official Liquidator of v. Nill

Karnataka HC25 Jan 2023CA/4/2023

Case brief

AI extract

What is this about?

The High Court of Karnataka ordered the dissolution of M/s Anand Polytech (India) Private Limited (in liquidation) effective from 02.01.2023 under Section 481(1) of the Companies Act, 1956, after the Official Liquidator submitted that only Rs.404/- remained as a frugal fund following lawful expenditure. The court directed the crediting of this amount to the Estate & Establishment Fund Account and

What did the court decide?

Company dissolved w.e.f. 02.01.2023; Rs.404/- credited to Estate & Establishment Fund Account.

Official Liquidator of Vs Nill — Insolvency and Bankruptcy | Karnataka HC (2023)

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CA No. 4/2023

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IN COP NO.305/1999

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IN THE HIGH COURT OF KARNATAKA AT BENGALURU

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DATED THIS THE 25^TH DAY OF JANUARY, 2023

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BEFORE

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THE HON'BLE MR JUSTICE KRISHNA S DIXIT

CA NO.4/2023

COP NO.305/1999

BETWEEN:

OFFICIAL LIQUIDATOR OF M/S ANAND POLYTECH ( INDIA ) PRIVATE LIMITED ( IN LIQUIDATION ) ATTACHED TO HIGH COURT OF KARNATAKA, CORPORATE BHAVAN, NOS. 26-27, 12^TH FLOOR, RAHEJA TOWERS, M.G. ROAD, BENGALURU- 560 001.

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…APPLICANT

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(BY SRI. SHRISHAIL NAVALGUND.,ADVOCATE FOR OL)

AND:

NIL

…RESPONDENT

Digitally s ignedigned by CHETA N BN B C Location: HIGHLocation: HIGH COURT OFCOURT OF KARNATAKAKARNATAKA

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THIS APPLICATION IS FILED UNDER SECTION 481 OF THE COMPANIES ACT, 1956 R/W RULE 9 OF THE COMPANIES (COURT) RULES, 1959, PRAYING TO DISSOLVE M/S ANAND POLYTECH(INDIA) PRIVATE LIMITED (IN LIQUIDATION), UNDER SECTION 481(1) OF THE COMPANIES ACT, 1956 SUBJECT TO SECTION 559(1) OF THE COMPANIES ACT, 1956 AND A COPY OF THE SAID ORDER MAY BE DIRECTED TO BE FILED WITH REGISTRAR OF COMPANIES, BENGALURU AS REQUIRED UNDER SECTION 481(2) OF THE COMPANIES ACT, 1956 AND ETC.,

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CA No. 4/2023

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IN COP NO.305/1999

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THIS APPLICATION IS COMING ON FOR ORDERS, THIS DAY, THE COURT MADE THE FOLLOWING:

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ORDER

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The Application in CA No.4/2023 seeks dissolution of

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the Company in winding up. Learned Panel Counsel appearing for the Official Liquidator points out that the Company has a frugal fund of Rs.404/- that has remained after the monies have been appropriated to the lawful expenditure incurred. He submits that it is a fit case for dissolution of Company and therefore, an order to that effect be passed.

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A perusal of the record supports the submission made by the learned counsel appearing for the official Liquidator. Therefore, his version is accepted and the company in question is ordered to be dissolved i.e., w.e.f. 02.01.2023 in terms of Section 481(1) of the erstwhile Companies Act, 1956.

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CA No. 4/2023

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IN COP NO.305/1999

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The amount of Rs.404/- shall be credited to the

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Estate & Establishment Fund Account maintained by the

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Official Liquidator in accordance with the extant norms.

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Ordered accordingly and CA No.4/2023 is disposed off.

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Sd/JUDGE

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BSV

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List No.1: Sl No.:16

Official Liquidator of v. Nill

Case brief

What is this about?

What did the court decide?

Official Liquidator of v. Nill

Case brief

What is this about?

What did the court decide?

What the court decided

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