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Companies Law - Highlights / Catch Notes

Home Highlights July 2024 Year 2024 This

Company liquidation proceedings warrant termination due to ...


Company dissolved after liquidation due to lack of funds/inability to continue. Remaining balance transferred to Common Pool Fund.

Case Laws     Companies Law

July 27, 2024

Company liquidation proceedings warrant termination due to complete winding up, lack of funds, or other reasons preventing continuation. Court dissolved company, discharged Official Liquidator, permitted transfer of available balance to Common Pool Fund, and directed closure of company's books of accounts in accordance with Supreme Court precedent and Section 481(1) of Companies Act.

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