9911796707
TMI Blog2022 (3) TMI 815X X X X Extracts X X X X X X X X Extracts X X X X ..... the Liquidator of Ruchika Tradelink Private Limited (CIN: U25201WB1999PTC160634) ("Corporate "Debtor") praying for the distribution of unsold assets of the Corporate Debtor amongst the stakeholders in proportion of their claim. 3. This Adjudicating Authority, in CP (IB) No. 785/KB/2019, passed the order for commencement of liquidation in the matter of the Corporate Debtor vide order dated 03.02.2020 and appointed the Applicant herein as the Liquidator. The applicant submits that Public Announcement, inviting claims from the stakeholders, was published by the Applicant on 7th February, 2020. Accordingly, seven unsecured financial creditors submitted their claims with the Applicant. 4. The Corporate Debtor has no fixed assets and no dues ar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Rs. 1,01,700/- to Income Tax. However, Gujrat Metallic Coal & Coke Ltd. is under CIRP and there is a huge demand of income tax with respect to the Corporate Debtor. Hence, the said advances have a minimal chance of recovery. e. The balance sheet of the Corporate Debtor reveals that an amount of Rs. 61,886.62/- is lying in five different banks in separate bank accounts. The Applicant sent letters to the banks on 6th September, 2021 for transferring the amount lying in the said bank accounts to the liquidation account of the 4 Corporate Debtor but no reply has been received from any of the Banks except SBI (Jamnagar). The amounts mentioned above have not been transferred to the liquidation account of the Corporate Debtor as of the date ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... B) No. 785/KB/2019 shall stand disposed of in accordance with the above directions. 12. The Liquidator shall stand discharged from his responsibilities, subject to procedural compliances. 13. In case of future realisation of any asset, the realised amount will be deposited in the Corporate Liquidation Account maintained by the Insolvency and Bankruptcy Board of India (Board). Any stakeholder entitled to any amount deposited into the said account will be entitled to apply to the Board for withdrawal of such amount. 14. The Registry is directed to send e-mail copies of the order forthwith to all the parties for information and for taking necessary steps. 15. Certified copy of this order may be issued, if applied for, upon compliance of al ..... X X X X Extracts X X X X X X X X Extracts X X X X
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