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2010 (5) TMI 401 - HIGH COURT OF RAJASTHANDissolution of company-in-liquidation seeked Held that:- No purpose is going to be served to continue with the proceedings in regard of the company-in-liquidation and there appears to be no possibility for recovery of debts and in these circumstances, the company-in-liquidation M/s. Auto Electrical Private Limited in exercise of powers under section 481(1) of the Companies Act stands dissolved and the Official Liquidator may send its report, in terms of section 481(2) to the Registrar of Companies for taking necessary action in accordance with law.
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