9911796707
TMI Blog2012 (4) TMI 66X X X X Extracts X X X X X X X X Extracts X X X X ..... on the ground that though the Company was incorporated in the year 1992, no shares was subscribed and no statutory meeting of the Company has held - Held that:- 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 reasons, the Court can make an order dissolving the Company from the date of that order [Meghal Homes (P) Ltd. v. Shree Niwas Girni K.K. Samiti [2007] 78 SCL 482 ] - Consequently the Company (in liquidation) shall stand dissolved and the Official Liquidator attached to this Court is discharged - make necessary arrangement for payment of fee to the counsel for the Official Liquidator from the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ory returns were also not submitted by the Company to the jurisdictional Registrar of Companies. In sum and substance, the Company never commenced its business after its incorporation. In view of such position, the Company Judge was pleased to hold that hardly any useful purpose will be served to allow the Company to remain alive on record. Therefore, it was ordered to wind up the Company and the Registrar of Companies/ Official Liquidator was directed, to initiate necessary action in accordance with law. 3. The Official Liquidator, in compliance to the direction of this Court given vide order dated 17.02.2003, in Co. Petition No.17 of 2001 (disposed of) requested all the Directors of the Company to furnish the Statement of Affairs of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al Liquidator has filed the instant application submitting that it is not possible to proceed with the winding up of the Company for want of funds, assets and reasons stated hereinabove and that it is just and reasonable in the circumstances of the case that an order of dissolution of the Company (in liquidation) be passed, under Section 481 of the Act. 6. In the case of Meghal Homes (P) Ltd. v. Shree Niwas Girni K.K. Samiti [2007] 78 SCL 482 the Supreme Court, inter alia , in paragraph 31 thereof has held as under: ".........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 reasons, the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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