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TMI Blog2019 (8) TMI 785X X X X Extracts X X X X X X X X Extracts X X X X ..... k account in the name of New Tech Fittings Pvt. Ltd., in Liquidation bearing No. 0960002105018806 opened with Punjab National Bank, Ahmedabad, Ashram Road Branch has balance of ₹ 17,637.12, the Liquidator is hereby directed to transfer the said amount of ₹ 17,637.12 in the Public account of India in Reserve Bank of India under Section 555(2) of the Companies Act, 1956. Liquidator stands relieved. - IA NO. 48 OF 2019 CP No. (IB) 23/10/NCLT/AHM/2017 - - - Dated:- 3-6-2019 - MS. MANORAMA KUMARI, MEMBER (J) For The Applicant : Mr Nandish Chudgar, Adv. and L.S. Modi For The Respondent : Mr Pranjal Buch, Advocate ORDER 1. The Instant Application IA 4 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... liquidation was discussed. After threadbare discussions and deliberations, meeting assented with 100% voting share to take the Company in liquidation as neither any Resolution Plan was received u/s 30(6) of the Code nor any such plan was approved by COC. (f) In accordance with the decision of the COC taken in its meeting held on 27.10.2017, the RP preferred an application under section 33(1) of the Code before this Hon'ble Tribunal which was registered as Interlocutory Application (LB) No. 376 of 2017. This Adjudicating Authority vide its order dated 18.12.2017 directed the Corporate Debtor to be liquidated. (g) As directed by this Adjudicating Authority, the Liquidator gave necessary public announceme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s including liquidation costs were distributed in the order of priority as laid down in Section 53 of the Code. It is pertinent to mention that dues of the Income Tax Department and Operational Creditors(s) have been written off. vii. Having satisfied to the fullest extent the assets of the Corporate Debtor and there being no further assets to be utilized for recovery of dues of the Creditors/Stakeholders, no further proceedings would remain in the Liquidation Process of the Corporate Debtor, the Liquidator has approached this Adjudicating Authority for appropriate directions under section 54 of the I B Code. 3. In view of the above and the other details provided in the application under consideration and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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