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TMI Blog2021 (12) TMI 1152X X X X Extracts X X X X X X X X Extracts X X X X ..... t not only it is just and equitable but because of the fact that no asset is available for the purpose of 'Liquidation', this is a fit case for order of dissolution. The corporate debtor M/s. Ajaz Nanda Designs Private Limited, stands 'Dissolved' from the date of this Order - Since the Company stands Dissolved vide this order and no proceedings are now pending, therefore the Registry is directed that the case file of proceedings be closed and be consigned to records. Application allowed. - I.A. 3246/PB/2021 in Company Petition No. 1739 (PB)/2018 - - - Dated:- 7-12-2021 - Dr. Deepti Mukesh, Member (J) And Hemant Kumar Sarangi, Member (T) For the Appellant : Ashutosh Kumar, Advocate ORDER Dr. Deepti Mukesh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 20 and application for liquidation was allowed vide order dated 22.12.2020, appointing applicant as liquidator of the corporate debtor. 5. It is submitted that due to lack of any records, such as books of account, financial statements, details of assets etc. and absence of any personnel of the corporate debtor, it was virtually impossible for the applicant to take process of liquidation ahead. The sole financial creditor has already invoked the securities of personal/corporate guarantors. 6. It is stated that forensic audit is also not possible in absence of any records/documents of the corporate debtor, the applicant has placed reliance of the order passed by Bangalore Bench in I.A. No. 435/2020 in C.P.(IB) No. 96/BB/2020, in which i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ate debtor in absence of any assets/documents/records and personnel of the corporate debtor. The present case fits in the provisions of Sec. 54 of IBC read with Rule 14 of Liquidation Regulations and it is just and equitable to allow the prayer of the applicant. 10. As a consequence, through this Order it is hereby declared that not only it is just and equitable but because of the fact that no asset is available for the purpose of 'Liquidation', this is a fit case for order of dissolution. The corporate debtor M/s. Ajaz Nanda Designs Private Limited, stands 'Dissolved' from the date of this Order. 11. Since the Company stands Dissolved vide this order and no proceedings are now pending, therefore the Registry is direct ..... X X X X Extracts X X X X X X X X Extracts X X X X
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