9911796707
TMI Blog2021 (6) TMI 1017X X X X Extracts X X X X X X X X Extracts X X X X ..... rther 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 IB Code - this Adjudicating Authority in exercise of the powers conferred under Sub-Section (2) of Section 54 of the Code, hereby, orders the dissolution of the Corporate Debtor viz., M/s. Subhlaxmi Dyeing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a prayer to dissolve the Corporate Debtor i.e. M/s. Subhlaxmi Dyeing Printing Mills Private Limited. 2. The brief facts of the case are as under:- 2.1 Mr. Anilkumar Singhal, a Financial Creditor of the Corporate Debtor had filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 [hereinafter referred as IB Code ] for initiation of Resolution Process before this B ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... his Adjudicating Authority, the Liquidator gave necessary public announcements in Business Standard (English) and Financial Express (Gujarati), inter alia, inviting proof of claims from all stakeholders and also announcing that the Corporate Debtor was under Liquidation. 2.4 In compliance of Regulation 45 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations 20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... From material on record, we are of the considered opinion that it is now of no use to keep legal existence of the Corporate Debtor alive. 3. In view of the above and the other details provided in the application under consideration and the record available, this Adjudicating Authority in exercise of the powers conferred under Sub-Section (2) of Section 54 of the Code, hereby, orders the dissol ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
