On a petition for dissolution of a company in liquidation, the Court accepted the Official Liquidator's report, dissolved the company under Section 481 of the Companies Act, and directed the transfer of funds to the Common Pool Fund Account.
Dissolution of the company and direction to transfer liquidation funds to the Common Pool Fund Account.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
HIGH COURT OF JUDICATURE FOR RAJASTHAN BENCH AT JAIPUR
S.B. Company Petition No. 1/1994
Rajsathan Jeevan Nidhi Sanchay Arthik Prabandh Ltd., F-11, Ramesh Marg, C-Scheme, Jaipur.
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HON'BLE MR. JUSTICE SANJEEV PRAKASH SHARMA
learned OL under Secti6Qm Fpanies Act 1956 stating therein that the ~ajasthab\ J nchay Arthik Prabandh d ,dl If Limited pany in liquidation") was wound up by dated 08.07.1994 in Company Petition ttached to this Court was appointed as the Provisional Li or. The OL thereafter took possession on 31. ches of the company in
liquidation at Sapotra, Gangapur City, and Toonga. The OL invited claims from all the creditors through publication dated 21.02.2018 however no claims have been received. Presently OL has stated that a sum of Rs.4068.671- lies in the account of company in liquidation and proposes to transfer the said amount to the Common Pool Fund ~ccbunt after deducting the legal expenses as the affairs of the company have completely been would up and
(2 of 2) [COP- 1/1994]
half yearly statement of account has already been filed upto tine period of 30.09.2018.
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(SANJEEV RRAKASH SH;~RMA),J
2 issues framed by the court
Whether the company should be dissolved pursuant to Section 481 of the Companies Act in light of the Official Liquidator's report.
Whether the funds held in the liquidation account should be transferred to the Common Pool Fund Account.
1 provisions across 1 enactments
Rajsathan Jeevan Nidhi Sanchay Arthik Prabandh Ltd.
A.
Sanjeev Prakash Sharma
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
