Libertatem Magazine

Gujarat HC: Orders to dissolve Nachmo Trading Co. Ltd., Initiates Liquidation

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The report under Section 481 (Dissolution Of Company) of the Companies Act, 1956, filed by the Official Liquidator (OL), prays for the dissolution of the company named Nachmo Trading Co. Ltd. (in liquidation), which was ordered to be wound up by the order in 2016, moreover, the winding ­up of the company commenced in the year 2016. The authorised share capital and paid-up share capital were reported accordingly.

Arguments before the Court

The OL had stated that publication on MCA website was made for the dissolution of the present company in 2019 along with other companies and no response was received with regards to assets, liabilities, dues if any, and other details pertaining to the said company. The OL contended that the High Court may pass appropriate order of dissolution of the company in liquidation.

Decision of the Court

The court finally held that the company i.e. Nachmo Trading Co. Ltd. (in liquidation), is dissolved under Section 481 of the Act and the OL attached to the Court stands discharged and is relieved as liquidator of Nachmo Trading Co. Ltd. (in liquidation) and also permitted to OL to transfer any such amount being available in the said company’s account to common pool account maintained by the Official Liquidator.

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