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TMI Blog2019 (8) TMI 1244X X X X Extracts X X X X X X X X Extracts X X X X ..... of provisions of Section 59(3)(a) of the IB Code, 2016 - The Company has issued notice to all the shareholders and an Extraordinary General Meeting was also held on 16.10.2017 in which the approval for liquidating the company was also given. The Company has also filed MGT 14 informing the special resolution passed by the members to the ROC. The voluntary liquidator has complied with the requirement of the provisions of section 59 of the IB Code, 2016 and filed this Petition under section 59(7) of the IB Code, 2016 to dissolve the Petitioner/Corporate Person viz., Guntur Tobacco Limited. M/s. Guntur Tobacco Limited is ordered to be dissolved as envisaged under Section 59 of the Code with effect from the date of this Order. It is also ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y) divided into 1,00,000 equity shares of ₹ 10/- each and the paid up capital of the Company is ₹ 5,72,612/- (Rupees Five Lakhs Seventy Two Thousand Six Hundred and Twelve only) divided into 57,161.2 equity shares of ₹ 10/- each fully paid up. c) The Company under voluntary liquidation was incorporated to carry on the business of manufacturers of and dealers in tobacco, cigars, cigarettes, beedies, match-lights, pipes and any other articles required by or which may be convenient to smokers, and of snuff grinders and merchants and box merchants and to deal in any other articles and things commonly dealt in by tobacconists, etc. Software development and Customization, package Development and customization, n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Company voluntarily and appointed Mrs. Padmasri Appana, an Insolvency Professional, having IP Registration No. IBBI/IPA-002/IP-N002201/2017-18/10672 to act as liquidator of the Company. f) The liquidator made public announcement for commencement of liquidation in form A, in Indian Express (English) and Andhra Jyothi (Telugu) on 17.10.2017, seeking submissions of the claim by the stakeholders, if any, within 30 days from the date of commencement of liquidation i.e. 16.10.2017. The public announcement was simultaneously submitted to the IBBI on 23.10.2017 to place the same on its website and the same was published on IBBI Website. g) The commencement of liquidation, appointment of liquidator and the publi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8377; 72,142/-. The total amount of ₹ 93,502/- was not claimed by the shareholders and to that extent the amount was lying in the liquidation account and now seeking for a direction to transfer the unclaimed amount to Companies Liquidation Account in the Public Account of India and on such transfer the assets of the Company will be fully liquidated. l) The Auditors Certificate on the liquidation, showing receipts and payments pertaining to liquidation since the liquidation commencement date is enclosed with the petition. m) The Liquidator has also prepared and submitted the final report dated 14.01.2009, in respect of realization and disbursement to the contributories to the Insolvency and Bankruptc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an affidavit in terms of provisions of Section 59(3)(a) of the IB Code, 2016. 8. The Company has issued notice to all the shareholders and an Extraordinary General Meeting was also held on 16.10.2017 in which the approval for liquidating the company was also given. The Company has also filed MGT 14 informing the special resolution passed by the members to the ROC. 9. It was also informed to the Adjudicating Authority that the Company under voluntary liquidation has no creditors as on date of filing of the Petition. 10. The liquidator in compliance with the Regulations had also published public announcement in Form-A one in Indian Express (English) and other in Andhra Jyothi (Telugu) and the copie ..... X X X X Extracts X X X X X X X X Extracts X X X X
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