The office of the Official Liquidator, High Court, Madras is attached to and works under the close supervision and control of the Company Court, High Court, Madras and is also an integral part of the Ministry of Corporate Affairs and handles the winding up process of companies registered in Tamil Nadu and Pondicherry as mandated by the Companies Act, 1956. The winding up process includes taking possession of the assets of a company ordered to be wound up, bringing the assets of the company to sale via public auction, recovery of debts due to the company, invitation of claims against the company, settlement of claims so received, distribution of funds to the creditors and contributories, prosecution of directors of the company in the event of misfeasance and eventual dissolution of the company. ...more
Marking a milestone of 100 days since launch of this website which has resulted in not just reduction of costs but also better services to the general public.
We take immense pleasure and pride in portraying the fruits of the painstaking efforts through which 135 companies were dissolved in the year 2013.
This study attempts to zero in on the reasons due to which the liquidation proceeding of companies ordered to be wound has prolonged over a decade.