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2013 (1) TMI 77 - HC - Companies LawDissolution of the Company - The Company was wound up on 17.09.1999 - no signboard of company name found on registered office & factory premises - Held that:- No useful purpose would be served in keeping the company alive. As per the books of account maintained by the office of Official Liquidator the fund position of the company as on 20.11.2012 is Rs. 89,724/-. As decided in Meghal Homes (P) Limited Vs. Shree Niwas Girni K.K. Samiti & ors. (2007 (8) TMI 447 - SUPREME COURT OF INDIA) 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 reason, the Court can make an order dissolving the Company from the date of that order. This puts an end to the winding-up process. In view of the this decision and the facts and circumstances of this case, the liquidation proceedings deserve to be brought to an end. The Official Liquidator is permitted to transfer the balance fund i.e. Rs.89,724/available in the Company’s account to the Reserve Bank of India after creating provision for payment of government fee, audit fee and other liquidation expenses. A copy of this order shall be communicated to the Registrar of Companies within 30 days by the Official Liquidator.
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