Official Liquidator v. Sc
Case brief
What is this about?
The Official Liquidator applied for court permission to discharge return of capital to shareholders using surplus funds from asset sales, seeking to ratify service of notices on Income Tax Department.
What did the court decide?
Permission granted to declare and pay return of capital to 48 contributories and to make necessary payments from surplus funds.
What the court decided
IN THE HIGH COURT OF KERALA AT ERNAKULAM
(Original Jurisdiction)
In the matter of the Companies Act, 1956 and
In the matter of M/s.Pazhassi Rubbers (P) Limited
M.C.A. No.1/2023 in C.P.No.2/1999
Before:
The Honourable Mr. Justice AMIT RAWAL
Thursday, the 2nd day of February 2023/13th Magha, 1944
Applicant
The Official Liquidator,
High Court of Kerala, representing
M/s.Pazhassi Rubbers Private Limited (In Liquidation)
Respondent
Issues for consideration
1 issue framed by the court
Whether the Official Liquidator requires court permission to declare and pay return of capital to shareholders from surplus funds.
Parties & counsel
- applicant
The Official Liquidator, High Court of Kerala
Coram
AMIT RAWAL
Case details
As recorded by the court registry
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