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TMI Blog2022 (4) TMI 778X X X X Extracts X X X X X X X X Extracts X X X X ..... he satisfaction accorded by the Liquidator by way of the present Petition, duly accompanied by his affidavit, the said Applicant Company is hereby dissolved with effect from the date of the present order. Application allowed. - C.P. (IB) No. 117/BB/2021 - - - Dated:- 25-3-2022 - Ajay Kumar Vatsavayi, Member (J) And Manoj Kumar Dubey, Member (T) For the Appellant : Vinutha Undale ORDER Manoj Kumar Dubey, Member (T) 1. This Petition has been filed under Section 59 of the Insolvency Bankruptcy Code (described in short as IBC), 2016, R/w. Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017 by the Liquidator seeking to order dissolution of the Applicant Company. 2. The aforesaid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... such as ready mixed concrete, lightweight cellular reinforced autoclaved concrete slabs and blocks for floors, walls and roofs and prestressed precast segments, reinforced concrete building components and any other such materials related thereto etc. 3. The registered office of the Company is presently situated at No. 376, Trinity Square Building Right Wing, 4th Floor, 14th B Cross, 5th Mam, Sector 6, HSR Layout, Bangalore - 560102, which lies within the territorial jurisdiction of this Bench. 4. The Board of Directors and Shareholders of the Company as on date are as under: 5. The following averments have been made in the Petition: i. The Board of Directors of the Company in their meeting held on 14.10.2019 approved to se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on in Form A, in the Hindu, English Newspaper and Udayavani, Kannada Newspaper on 03.12.2020 seeking submission of the claim by stakeholders within 30 days from date of commencement of Liquidation i.e. 31.12.2020, in accordance with Regulation 14 of the IBBI (Voluntary Liquidation Process) Regulations, 2017. The Public Announcement was simultaneously submitted to Insolvency and Bankruptcy Board of India (described in short as 'IBBI') to place the same on its website and the same was published on IBBI website on 03.12.2020. v. It is further submitted that the Declaration made by the Directors along with Audited Financial Statements for the previous two years were filed with the Registrar of Companies, Bangalore in form GNL-2 vid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lders. The Assets of the Company were completely liquidated and distributed to the concerned stakeholders of the Company as per the distribution mechanism provided in Sec. 53 of IBC, 2016. Hence, the Liquidator confirms that there were no unclaimed dividends and undistributed proceeds in the Liquidation process and the affairs of the Company have been completely wound up. Subsequent to the completion of distribution process, the Liquidation bank account was closed. ix. The Liquidator submits that the Final Statement of Accounts and Registers Ledgers maintained as per SCHEDULE II and Regulation 10 of the IBBI Regulations, 2017. Further, the Liquidator had prepared the Final Report in accordance with Regulations 38 of the IBBI (Volunta ..... X X X X Extracts X X X X X X X X Extracts X X X X
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