9911796707
TMI Blog2021 (2) TMI 118X X X X Extracts X X X X X X X X Extracts X X X X ..... iquidation under Section 59(7) of the Code, 2016 read with Rules and Regulations therein. The Corporate Person has completed requisite formalities and procedure of liquidation in compliance of law and has filed this application for its dissolution under Section 59(7) of the Code. 2. As per the application, the Corporate Person was incorporated on 26th November, 2018, having Registered Office at Building 16/52 F, Near Jesmart, Mulanthuruthy P. O, Ernakulam, Kerala- 682 314. 3. The Board of Directors found that the existing business operations of the company are not making profits and considering no prospects of new business opportunities, it would not be prudent to continue operations. The Board further found that the business of the Compa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as Liquidator of the Company. Since there are no creditors in the company, the requirement of Special Resolution being approved by creditors having 2/3rd value of shares as required under proviso to Sub-Section (3) of Section 59 does not arise. 6. The Liquidator made a public Announcement of commencement of liquidation in Form A, in Indian Express daily, an English Newspaper and Mangalam daily, a Malayalam Newspaper calling claims by the stakeholders, if any, within 30 days from the date of commencement of liquidation 13.04.2020. The public announcement was simultaneously submitted to the Insolvency and Bankruptcy Board of India (IBBI) to place the same on its website and the same was published in the IBBI website. In addition to that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 10.04.2020 respectively. No Objection Certificate from the Income Tax Authority dated 04.06.2020 and No Objection Certificate from the Central Tax & Central Excise dated 07.07.2020 have also been provided with the application. 9. Subsequent to the payment to Creditors and Members of the Company, the liquidator has closed the liquidation Account. A certificate from the Bank for closure of the account has also been produced. It is found that the liquidation process has been completed on 03.09.2020. 10. The final report showing the realisation and payment to the creditors and Members of the Company, containing the details as required under Regulation 38 of IBBI Regulations has been annexed with the application. The Liquidator filed this ap ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
