https://www.taxtmi.com/caselaws?id=421887 The Madras High Court granted the dissolution of 'Mount Mechanical Works (P) Limited' under Section 481 of the Companies Act, 1956. The Official Liquidator's report detailed settled claims and funds position, leading to the company's dissolution after over 40 years. The Court approved most prayer limbs, transferring funds per Section 555 but rejected one limb. The judgment aimed to prevent fund idling, comply with statutory provisions, and efficiently conclude the matter, with no cost orders. en-us Fri, 11 Mar 2022 00:00:00 +0530 Wed, 04 May 2022 08:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421887 The Madras High Court granted the dissolution of 'Mount Mechanical Works (P) Limited' under Section 481 of the Companies Act, 1956. The Official Liquidator's report detailed settled claims and funds position, leading to the company's dissolution after over 40 years. The Court approved most prayer limbs, transferring funds per Section 555 but rejected one limb. The judgment aimed to prevent fund idling, comply with statutory provisions, and efficiently conclude the matter, with no cost orders. Case-Laws Companies Law Fri, 11 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421887