The High Court allowed the application seeking dissolution of a ...

Company in liquidation lacks funds for creditors. Application for dissolution approved under Section 481.

June 12, 2024

Case Laws Companies Law HC

The High Court allowed the application seeking dissolution of a company (in liquidation) u/s 481 of the Companies Act, 1956. As the company had insufficient funds and no further assets to realize money for creditors other than Secured Creditors, the Official Liquidator sought permission to pay Secured Creditors and transfer any available balance to the Common Pool Fund after deducting Liquidation Expenses. With no assets left for realization, the court approved the dissolution u/s 481, ending the liquidation proceedings for M/s. Sarvodya Paper Mills Ltd. The Official Liquidator is discharged. Application for dissolution granted.

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The High Court allowed the application seeking dissolution of a ...

Company in liquidation lacks funds for creditors. Application for dissolution approved under Section 481.

June 12, 2024

Case Laws Companies Law HC

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