TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
When case Id is present, search is done only for this
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Case Laws
of of All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Company dissolved post final meeting publication in Gazette. Voluntary Liquidator to preserve records.</h1> <h3>In The Matter Of The Official Liquidator Versus Biren D. Shah</h3> The court directed the Voluntary Liquidator to promptly submit the publication of the final meeting in the Gazette. After reviewing all formalities and ... Winding up the Company voluntarily - Held that:- Voluntary Liquidator is directed to submit the copy of the publication of final meeting in Gazette to the Official Liquidator as early as possible. The explanation rendered by the learned counsel appearing for respondent that there is a obvious mistake in the chart of assets, the said explanation is accepted. From the facts and details stated hereinabove, it transpires that all necessary formalities have been completed and it is found that there is no objection to winding up the Company voluntarily and therefore, it is hereby directed that the Company shall stand dissolved from the date of this order. The voluntary liquidator shall preserve the books of accounts of the Company for the period of 5 years from today. Issues:1. Direction to the Voluntary Liquidator for publication of final meeting in Gazette2. Clarification on facts mentioned in the report for Voluntary Liquidation of the companyAnalysis:1. The Official Liquidator filed a report requesting the court to direct the Voluntary Liquidator to submit the copy of the publication of the final meeting in the Gazette. The company, M/s. Varaha Infotech Pvt. Ltd., was registered under the Companies Act, 1956. The record showed that the company submitted documents for voluntary winding up on 11.01.2016.2. It was revealed that the company had 10,000 shares, with two shareholders holding shares as follows: Mr. Keyur Ashvinkumar Bhatt with 9999 shares and Mr. Mayur Dipak Garasia with 1 share. The company filed a declaration of solvency on 07.01.2015, followed by an Extra Ordinary General meeting on 14.02.2015 where a special resolution for winding up was passed, appointing the respondent as the liquidator.3. The respondent fulfilled all requirements under the Companies Act, 1956, including filing necessary forms and publishing the special resolution in newspapers and the Official Gazette. The final settlement of accounts was approved at a general meeting on 30.04.2015. The respondent filed the company's accounts with the Registrar of Companies on 06.10.2015.4. The Official Liquidator pointed out a deficiency in the accounts, but the respondent clarified the mistake, adjusting the total assets and liabilities. The notice of the final meeting was published in newspapers, and the respondent informed the Income Tax Department about the voluntary liquidation. Affidavits were filed declaring no dues to government departments.5. The court directed the Voluntary Liquidator to submit the publication of the final meeting in the Gazette promptly. After reviewing all formalities and finding no objections, the court ordered the dissolution of the company from the date of the order, with a directive for the Voluntary Liquidator to preserve the company's books of accounts for five years.6. The report was disposed of, with a copy of the order to be communicated to the Registrar of Companies, concluding the legal proceedings related to the voluntary winding up of M/s. Varaha Infotech Pvt. Ltd.
TaxTMI 
TaxTMI 
