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2018 (1) TMI 504 - HC - Companies LawDissolution of the company in liquidation under Section 481 of the Companies Act, 1956 - Held that:- The Court, having heard learned advocate Ms.Chandarana and considered the contents of the report, finds that as certified by the Chartered Accountant, since there is no fund available with the company and there are no assets and properties of the company, the Official Liquidator shall not be now required to take any action in furtherance of winding up proceedings. Since there are no funds available in the company’s account, it will be for the concerned authorities before which the proceedings are pending under the Employees’ Provident Fund Act against the company to proceed against the Ex-Directors if so permissible in law for the purpose of recovery of the provident fund dues. As stated in the report, since disbursement of the amount from the company’s account took place in favour of the secured creditors and the workers, before the judgment rendered by the Hon’ble Supreme Court in the case of E.P.F. Commissioner (2011 (11) TMI 639 - Supreme Court Of India), nothing could be done at this stage in connection with the provident fund dues for which proceedings are initiated by the concerned authorities under the Employees’ Provident Fund Act somewhere in the year 2013. In view of the above, the company in liquidation – M/s.Anjali Coating Private Limited is ordered to be dissolved under Section 481 of the Act and the Official Liquidator attached to this Court is discharged and relieved from his duties as a liquidator of the company in liquidation. However, the Ex-Directors are directed to file undertaking within a period of two weeks from the date of receipt of this order that if any liability in future arises in connection with the company they will be responsible for such liability.
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