https://www.taxtmi.com/caselaws?id=109372 The High Court of Rajasthan granted an application under section 457(1) of the Companies Act, 1956, allowing the Official Liquidator powers to wind up Basera Cement Limited. The Ex-Directors' failure to file the required statement of affairs led to this decision. The court sanctioned the Official Liquidator to settle creditor lists, fix settlement dates, and handle creditor proofs under section 530. The Official Liquidator was empowered to initiate legal proceedings, sell assets, raise funds, and manage the company's winding-up process. The judgment disposed of the application, affirming the Official Liquidator's authority in the matter. en-us Fri, 20 Feb 2004 00:00:00 +0530 Mon, 09 Apr 2012 13:17:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109372 The High Court of Rajasthan granted an application under section 457(1) of the Companies Act, 1956, allowing the Official Liquidator powers to wind up Basera Cement Limited. The Ex-Directors' failure to file the required statement of affairs led to this decision. The court sanctioned the Official Liquidator to settle creditor lists, fix settlement dates, and handle creditor proofs under section 530. The Official Liquidator was empowered to initiate legal proceedings, sell assets, raise funds, and manage the company's winding-up process. The judgment disposed of the application, affirming the Official Liquidator's authority in the matter. Case-Laws Companies Law Fri, 20 Feb 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109372