IN RE: INCHCAPE INDIA (P.) LTD. Vs. STATE

JUDGEMENT

(1.) THIS petition under Section 518 of the Companies Act, 1956 ('the Act') is filed seeking the determination of amount of Income Tax which may be payable by the petitioner -company so as to repatriate the amount pursuant to the resolution of voluntary winding -up of the company passed on 10 -7 -2000 by the AGM of the shareholders of the company. It is also submitted that the only assets of the company are as under :

(2.) SECTION 518 reads as under :

(3.) IN view of the above, the company petition stands disposed of.