https://www.taxtmi.com/caselaws?id=113555 The court ordered the dissolution of the company due to the absence of assets and liabilities, with only a liability of Rs. 11,93,478.92 remaining. The Official Liquidator was authorized to pay Rs. 12,000 to the chartered accountant for preparing the statement of affairs. Settlement of creditors and audit of final accounts were waived due to the lack of assets. The Employees State Insurance Corporation could pursue dues from other liable parties. The court emphasized the importance of following legal procedures even in cases where companies lack resources to protect the interests of all parties involved. en-us Thu, 03 Dec 2009 00:00:00 +0530 Sat, 05 May 2012 17:38:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113555 The court ordered the dissolution of the company due to the absence of assets and liabilities, with only a liability of Rs. 11,93,478.92 remaining. The Official Liquidator was authorized to pay Rs. 12,000 to the chartered accountant for preparing the statement of affairs. Settlement of creditors and audit of final accounts were waived due to the lack of assets. The Employees State Insurance Corporation could pursue dues from other liable parties. The court emphasized the importance of following legal procedures even in cases where companies lack resources to protect the interests of all parties involved. Case-Laws Companies Law Thu, 03 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113555