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TMI Blog2021 (6) TMI 689X X X X Extracts X X X X X X X X Extracts X X X X ..... B. Gosavi Judicial Member And Virendra Kumar Gupta Technical Member For the Applicant : Vishal Raval ORDER VIRENDRA KUMAR GUPTA (TECHNICAL MEMBER).- 1. The present application is filed under section 54 of the Insolvency and Bankruptcy Code, 2016, by the liquidator Mr. Premraj Ramratan Laddha (insolvency professional) on behalf of the company "M/s. Bhoomi Ginning Pressing P. Ltd.". 2. The ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e debtor. Accordingly, this Adjudicating Authority vide its order dated December 9, 2019 passed an order of liquidation in I. A. No. 709 of 2019. 5. The public announcement as provided under regulation 12 of the Regulations was made by way of an advertisement on January 1, 2020 in form B of the Schedule in newspaper Times of India, Rajkot edition and Phoolchhap, Gujarati daily newspaper invites t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... December 29, 2020 for the period of March 31, 2020 to December 29, 2020. 9. The applicant submits that the balance in liquidation account of the corporate debtor was Nil on December 29, 2020 the statement of account is annexed with the application. 10. The applicant submitted that the entire process of liquidation is completed within a statutory time period. Further, none of the stakeholders hav ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed. Moreover, it is not the case that the proposed liquidation/dissolution of the company is going to affect adversely to its shareholders/ creditors or such dissolution is contrary to the provisions of law. 13. Hence by considering the above facts and circumstance of the case, we find that the present petition deserves to be allowed in terms of its prayer clause. 14. Consequently, this Adjudica ..... X X X X Extracts X X X X X X X X Extracts X X X X
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