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2021 (6) TMI 177 - HC - Companies LawReport filed for dissolution of the company - company under liquidation has complied with all formalities and has made all necessary payments - HELD THAT:- Considering the ratio laid down by the Hon'ble Apex Court in the case of Meghal Homes Pvt. Ltd. [2007 (8) TMI 447 - SUPREME COURT], where it was held that the arrangement has to go back to the meeting of members, creditors, etc. of the company in terms of section 391 of the Act and once it is adopted or adopted with modifications with the requisite majority at the meeting, the arrangement would require a fresh scrutiny by the Company Court thereafter, we cannot avoid interfering with the decision of the Division Bench on the ground put forward by learned Senior Counsel of benefit to the workers, the report deserves to be accepted. The Company, named, M/s. Mangal Rasayan Limited (In Liqn.) is hereby dissolved under Section 481 of the Act and the Official Liquidator attached to this Court stands discharged and is relieved as liquidator of M/s. Mangal Rasayan Limited (In Liqn.). The official liquidator is also permitted to transfer the available amount in the company’s account as on date to the Common Pool Account maintained by the office of the Official Liquidator. Report is allowed.
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