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<h1>Court Approves Voluntary Dissolution of Software Company After Meeting All Legal Requirements.</h1> The court granted the petition for the dissolution of Software Moguls India Private Limited under Section 497(6) of the Companies Act, 1956. The ... Dissolution under Section 497(6) of the Companies Act, 1956 - dissolution from the date of the filing of the instant petition, i.e. 4th February, 2021 - HELD THAT:- The prayer made in the petition is allowed and the Company is wound up and shall be deemed to be dissolved with effect from the date of the filing of the present petition, i.e. 4th February, 2021. The petition is disposed of. Issues:Company petition for dissolution under Section 497(6) of the Companies Act, 1956.Analysis:1. The petition sought the dissolution of Software Moguls India Private Limited from the date of filing. The company was incorporated in 1987 with a registered office in Delhi.2. The company's authorized share capital was Rs. 1,00,00,000 divided into 1,00,000 equity shares. The paid-up capital was Rs. 47,43,200, with various shareholders holding different amounts of shares.3. The directors at the time of voluntary winding up were identified, and a declaration of solvency was made in compliance with Section 488 of the Companies Act, 1956.4. A special resolution for voluntary liquidation was passed in a meeting, appointing a voluntary liquidator.5. Notifications regarding the appointment of the voluntary liquidator and final general meeting were published as required by the Companies Act, 1956.6. Accounts of the company during the winding-up process were filed, showing recovery, expenses, payments to creditors, and return to contributories.7. No Dues Certificate and No Objection Certificate were submitted, along with confirmation from the Registrar of Companies and a certificate stating the absence of a bank account in the company's name.8. An indemnity bond was provided to the Official Liquidator, ensuring protection against any liabilities arising from the liquidation process.9. The Official Liquidator confirmed that the company's affairs were conducted in a non-prejudicial manner, supporting the dissolution of the company.10. The court allowed the petition, ordering the winding up and dissolution of the company effective from the date of filing. The Official Liquidator was directed to file a copy of the order with the Registrar of Companies within the statutory period.
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