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        Case ID :
        Companies Law

        The HC permits the Official Liquidator to effect payment by RTGS...

        Official Liquidator authorized to pay Rs 13,99,230 and Rs 17,50,770; company dissolved under s.481, payment under s.530

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                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.
                                The HC permits the Official Liquidator to effect payment by RTGS of Rs. 13,99,230 to Creditor X and Rs. 17,50,770 to Creditor Y as full and final satisfaction under section 530 of the Companies Act, 1956. Upon filing of the requisite undertaking by the respondents and transfer of the specified sums by the Official Liquidator, the Company in liquidation is ordered to be dissolved pursuant to section 481 of the Companies Act, 1956. The Official Liquidator attached to the HC is discharged and relieved from further duties in respect of the liquidation. The Official Liquidator's report is allowed and the petition is disposed of.
                                Note: It is a system-generated summary and is for quick reference only.
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