Seeking winding up of respondent company - Failure to pay ...

Company Ordered to Liquidation for Unpaid Dues; Official Liquidator Appointed to Manage Assets and Creditors' Payments.

March 22, 2024

Case Laws Companies Law HC

Seeking winding up of respondent company - Failure to pay outstanding dues - section 434 of the Companies Act, 1956 - The court noted the substantial unpaid amount despite demand and found merit in the petitioner's claim for winding up due to the respondent's failure to settle outstanding dues. - Considering the need for liquidation proceedings, the court appointed an Official Liquidator and granted necessary permissions for asset realization and disbursement of dividends. - Upon finding that all assets were realized, creditors were paid, and no further proceedings were feasible, the court ordered the dissolution of the respondent company under Section 481 of the Companies Act, 1956.

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Seeking winding up of respondent company - Failure to pay ...

Company Ordered to Liquidation for Unpaid Dues; Official Liquidator Appointed to Manage Assets and Creditors' Payments.

March 22, 2024

Case Laws Companies Law HC

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