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TMI Blog2020 (5) TMI 244X X X X Extracts X X X X X X X X Extracts X X X X ..... oluntary Liquidation Process of the Corporate Person. The Liquidator has followed due process of law, and thus affairs of the Company were completely wound up, and its assets were completely liquidated - the instant Petition/Application deserves to be allowed - M/s. Viyes Consultancy Private Limited, Corporate Person is hereby dissolve with immediate effect. - CP NO. 02/BB/2020 - - - Dated:- 2-1-2020 - Rajeswara Rao Vittanala, Judicial Member And Ashutosh Chandra, Technical Member Thirupal Gorige for the Appellant. ORDER Rajeswara Rao Vittanala, CP. No. 02/BB/2020 is filed by M/s. Viyes Consultancy Private Limited (in Voluntary Liquidation) ('Applicant') under section 59(7) of the IBC, 2016, R/w IBBI (Vo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed under the provisions of Section 59 of the Insolvency and Bankruptcy Code, 2016, Mr. Shivaputra Rudrappa Ujjankop, Managing Director and Mr. Vijaya Shivaputra Ujjankop, Director of the Company, made a declaration on February 06, 2019. The declaration by majority of Directors along with audited financial statements as record of business operations of the Company for the previous two years were filed with Registrar of Companies, Karnataka in form GNL-2 vide SRN H45034303. The aforesaid Form GNL-2 has been approved by the Registrar of Companies. (3) As proposed by the Board, the members of the Company in their Extra-Ordinary General Meeting held on February 11, 2019 passed a special resolution required under section 59 of the Code read wi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pliance with the provisions of section 59 of the IBC, 2016 read with IBBI (Voluntary Liquidation Process) Regulations, 2017, the affairs of the Applicant Company have been completely wound up. (6) Accordingly, the Liquidator of the Applicant Company has filed a Final Report of the Liquidation (as per Rule 38 of the IBBI (Voluntary Liquidation Process), Regulations, 2017, dated 03.10.2019, by inter alia stating as follows: a. Statement showing how the liquidation process has been conducted and after mutual set off, the asset of the Company has been disposed off from 11th February, 2019 (Commencement of Winding-up) to 30.09.2019 (Close of liquidation process) RECEIPTS VALUE REALIZED Rs. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9 Travel and conveyances Other administrative expenses 1,34,766.88 Payment to Members a Dividend 0 b Capital repayment 81,936.35 Net Realization (Rs.) 13,75,607.00 Net Payment Rs. 13,75,607.00 It is further stated that all assets of the Corporate Person have been disposed of/distributed. As per direct ..... X X X X Extracts X X X X X X X X Extracts X X X X
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