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Applicant Co. was allowed to be dissolved where there was no business prospect and long term finance

June 20, 2020[2020] 117 taxmann.com 204 (NCLT - Ahd.)
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IBC : Where due to non-availability of business prospects and long term financial resources of applicant company, BoDs proposed for voluntary liquidation of applicant company, affairs of company were completely wound up, and relevant provisions of section 59 were duly complied with, applicant company was to be dissolved

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