TaxTMI 
TaxTMI 
2024 (7) TMI 1262
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....dator praying that the company (in liquidation) - M/s. Spack Turnkey Projects (P) Ltd., be dissolved and the Official Liquidator be discharged as its Liquidator. 2. The above-mentioned application has been moved in the instant company petition, which has been instituted under Section 433, 434 and 439 of the Act, seeking winding up of the respondent/company (in liquidation) on the ground of non-payment of outstanding dues amounting to Rs. 6,53,087.74/- along with due interest. 3. It is borne out from the record that the Official Liquidator attached with this Court was appointed as the Provisional Liquidator to the company (in liquidation) vide order dated 15.01.2005, with directions to take charge of the assets, records and books of ac....
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....edings, possession of the same were taken and the status of such properties has been detailed in paragraph (7) of the present application, which is reproduced hereinbelow: S. NO. ADDRESS POSSESSION & STATUS 1. Regd. Office 2nd Floor, Abhishek Tower, D-2, Alaknanda Commercial Complex, New Delhi - 110019; 1102/1109, Rajendra Place, New Delhi. Possession could not be taken over as the said premises was rented and the same was vacated by the Company; and another company namely M/s. Sugam Products Pvt. Ltd. was running its affairs at the said premises. 2. Residential Flat situated at property bearing No. 916, Sector 15, Faridabad, Haryana. Possession was taken on 21.07.2007 Status: The same was sold by the State Bank o....
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....ount of Rs. 9,32,371/- prior to invitation of claims by the Official Liquidator. 8. It is stated that vide order dated 29.11.2023, the State Bank of India (formerly State Bank of Indore), was directed to deposit Rs. 9,32,371/- with the office of the Official Liquidator which amount would thereafter be disbursed to satisfy the claim of EPFO. It has been recorded in the order dated 04.04.2024 that State Bank of India handed over a Bankers Cheque of the same amount as directed, which was thereafter, given to the EPFO for disbursement of their claims to the employees/workers concerned. 9. At present, it is submitted that no action towards the liquidation of the respondent company remains pending on behalf of the Official Liquidator. Furth....
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....olution of a company, the relevant portion of which reads as under: "Section 481. Dissolution of Company. (1) When the affairs of a company have been completely wound up or when the Court is of the opinion that the liquidator cannot proceed with the winding up of a company for want of funds and assets or for any of the reason whatsoever and it is just and reasonable in the circumstances of the case that an order of dissolution of the company should be made, the Court shall make an order that the company be dissolved from the date of the order, and the company shall be dissolved accordingly." ....... 13. Thus, relying on the decision of the Supreme Court in Meghal Homes (supra) as also the import of Section 481 (1) of th....