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CS Professional · Corporate Restructuring, Valuation and Insolvency · Voluntary Liquidation

Narmada Metals Ltd's liquidator has sold all assets, distributed the proceeds and completely wound up its affairs under a voluntary liquidation. What should the liquidator do next to bring about the company's dissolution?

The liquidator must apply to the Adjudicating Authority for dissolution once affairs are completely wound up and assets completely liquidated. The Authority then passes an order dissolving the company from the date of that order. No fresh resolution or Registrar filing alone achieves dissolution.

  1. AFile an application with the Adjudicating Authority for dissolutionCorrect
  2. BSimply file a final report with the Registrar of Companies
  3. CPass a fresh special resolution of members to dissolve
  4. DRequest the Board to issue a dissolution certificate

Explanation

Under section 59(7), once affairs are completely wound up and assets liquidated, the liquidator applies to the Adjudicating Authority for dissolution. Under 59(8) the Authority orders dissolution from the date of the order. A Registrar filing or fresh resolution does not dissolve the company.

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