https://www.taxtmi.com/caselaws?id=383140 A company in liquidation may be dissolved under section 481 of the Companies Act, 1956 when its assets have been fully realised, no further assets remain, and no surviving claims require adjudication. Here, the record showed that the winding-up had been substantially completed, the Official Liquidator had audited the accounts, and amounts were identified for workmen's dues and winding-up expenses. As no ex-workmen claims had been received despite public notice, and the remaining funds were to be dealt with under section 555, the court held that no useful purpose would be served by keeping the liquidation pending. The company was therefore ordered to be dissolved, and the liquidation proceedings came to an end. en-us Wed, 24 Apr 2019 00:00:00 +0530 Thu, 18 Jul 2019 07:59:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383140 A company in liquidation may be dissolved under section 481 of the Companies Act, 1956 when its assets have been fully realised, no further assets remain, and no surviving claims require adjudication. Here, the record showed that the winding-up had been substantially completed, the Official Liquidator had audited the accounts, and amounts were identified for workmen's dues and winding-up expenses. As no ex-workmen claims had been received despite public notice, and the remaining funds were to be dealt with under section 555, the court held that no useful purpose would be served by keeping the liquidation pending. The company was therefore ordered to be dissolved, and the liquidation proceedings came to an end. Case-Laws Companies Law Wed, 24 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383140