Company to be dissolved where NOC has been received by RoC & IT department: HC

Case Details: OL of Mansukhram Textiles (P.) Ltd. (In Liqn) v. NA - [2023] 146 taxmann.com 62 (Gujarat)

Judiciary and Counsel Details

• • Bhargav D. Karia, J.
  • Shivang A. Thacker for the Appellant.

Facts of the Case

In the present case, the official Liquidator has prayed for dissolution of the company which was ordered to be wound up. It was further stated in the report that neither any assets were remaining and nor any litigation is pending with the Official Liquidator for the company in liquidation.

Later, the Official Liquidator published the Advertisement in newspaper of 24 Companies including the present company stating that these companies are to be dissolved since relevant records are not available in the office of Official Liquidator to carry out further Liquidation process, for inviting objections from Secured Creditors, Workmen, all Stakeholders and public at large for proposed dissolution.

High Court Held

Official Liquidator has not received any objection from Secured Creditors, Workmen, Stakeholders and public at large for the proposed dissolution. Also, it was stated by the Official Liquidator that no objections were received by the Income-Tax Department even after sending letter requiring to raise objections.

Therefore, the Official Liquidator submitted that no objections were received against proposed dissolution of the Company in Liquidation. Also, the Official Liquidator, relying upon the auditor’s certificate, had contended that only Rs. 32,181/- is available in the Bank Account of the Company.

Pursuant to all the above-mentioned facts and information, Hon’ble High Court of Gujarat observed that prayer made in petition was to be allowed and company was to be dissolved under section 481 of Companies Act, 1956 / Section 302 of the Companies Act, 2013.

List of Cases Reviewed

• • Meghal Homes (P.) Ltd. v. Shree Niwas Girni K.K. Samiti [2007] 78 SCL 482 (SC)/[2007] 7 SCC 753 (para 12) followed.

List of Cases Referred to

• • OL OF Various Companies (In Liqn) v. NA [R/Official Liquidator Report No. 128 of 2021, dated 18-8-2021] (para 5)
  • Meghal Homes (P.) Ltd. v. Shree Niwas Girni K.K. Samiti [2007] 78 SCL 482 (SC)/[2007] 7 SCC 753 (para 9).