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2012 (4) TMI 66 - GAUHATI HIGH COURTDissolution of the Company (in liquidation) under Section 481 of the Act - application moved by the Official Liquidator ) for dispensing with the requirement of filing the accounts and audit of the Company (in liquidation), since it has no funds to its credit - that the Official Liquidator is not in a position to proceed further with the winding up of the Company for want of funds, assets and reasons stated in the application and for discharging the Official Liquidator from proceeding further - promoters of the Company (in liquidation) filed for winding up of the said Company on the ground that though the Company was incorporated in the year 1992, no shares was subscribed and no statutory meeting of the Company has held - Held that:- 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 reasons, the Court can make an order dissolving the Company from the date of that order [Meghal Homes (P) Ltd. v. Shree Niwas Girni K.K. Samiti [2007] 78 SCL 482 ] - Consequently the Company (in liquidation) shall stand dissolved and the Official Liquidator attached to this Court is discharged - make necessary arrangement for payment of fee to the counsel for the Official Liquidator from the Common Pool Fund
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