2022 (6) TMI 503

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....R For the Appellant : Bavisetty Sridhar , Deputy Official Liquidator ORDER This common order will dispose of captioned 'company application' i.e., Company Application No. 170 of 2022 [hereinafter 'dissolution application' for the sake of convenience and clarity] and Captioned main Company Petition i.e., 'C.P. No. 41 of 2012' {hereinafter 'main CP' for the s....

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....l (O.S.A. No. 187 of 2014) and ultimately a Hon'ble Division Bench of this Court directed the OL to take possession of 'Galaxy Amaze Kingdom Limited' [hereinafter 'said company' for the sake of convenience and clarity]. Thereafter OL was appointed as Provisional Liquidator and liquidation process was commenced in accordance with 'The Companies Act, 1956' [hereinafter &#....

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....9; exercise. 6. This brings this Company Court back to the multi-limbed prayer in dissolution application. In the light of narrative thus far, this Court is convinced that just and reasonable circumstances exist for acceding to the dissolution prayer in the captioned dissolution application. Therefore, prayer limbs (a) to (d) and (g) are ordered as prayed for. 7. As regards prayer limb (e), ....

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....e Office of the OL. Let the destruction of physical records in the office of the OL proceed in accordance with said Rules made by Central Government which are traceable to sub-sections (1) and (2) of Section 550 of said Act. As regards records qua main CP and applications thereat i.e., physical records in this Company Court are concerned, the same shall be governed by the digitization process whic....