9911796707
TMI Blog2022 (5) TMI 806X X X X Extracts X X X X X X X X Extracts X X X X ..... Ordinary General Meeting dated 15.12.2020 passed a Special Resolution to voluntarily liquidate the Company and to appoint Mr. Bhupendra Singh Narayan Singh Rajput as liquidator. It also appears that the liquidator, after his appointment, has duly performed his duties and completed the necessary formalities to complete the liquidation process of the Corporate Person -Applicant. It also appears that the realized amount has been duly distributed between the shareholders as per their claims. Since there are no Creditors in the Corporate Person, no claims is received. It also appears that no objection is received from any person opposing the proposed voluntary liquidation either from the side of the shareholders or from creditors nor any adv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed Jamnagar, Gujarat-361005. The shareholders of the Corporate Person do not want to continue the business as there is no business opportunity in upcoming years. Hence, the Board of Directors of the Corporate Person are of the opinion to close down the company by way of voluntary liquidation. 3. It is submitted that as per the declaration contained in Section 59(3)(a) of the IBC, 2016, the Directors have given their declarations stating that they have made a full inquiry into the affairs of the company and after doing so, they have formed an opinion that the company has no debt or if claimed during the liquidation process, the Corporate Person will be able to pay in full from the proceeds of assets to be sold in the voluntary liquidation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r of Companies about the voluntary liquidation and appointment of Liquidator in Form MGT 14 vide SRN R75291856 dated 16.12.2020 and Form GNL vide SRN R7591922 dated 16.12.2020. The liquidator also informed to the Income Tax Officer, Jamnagar-Gujarat about the voluntary liquidation as well as his appointment on 16.12.2020. 8. It is submitted that in compliance with Regulation 8(1)(a) and 9 of the Liquidation Regulations, 2017, the liquidator submitted a Preliminary Report to the shareholders of the Corporate Person on 25.01.2021 within a prescribed time limit of 45 days from the liquidation commencement date. As per the Preliminary Report, there is no asset in the Corporate Person. However, there is only a cash balance of Rs. 467/- and a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... alized. There are no operational creditors and financial creditors in the Corporate Person. Since there are no assets in the Corporate Person, thereby, the sale statement is not required. It is further submitted that there is no investigation/inquiry is pending against the company in any Court or Tribunal. At present company is not having any business operations and has also no assets which require to be sold. This application is filed for passing the order of dissolution. 11. We have heard the Learned Counsel for the Corporate Person and perused the material available on record. It is noted that the Board of Directors of the Corporate Person has taken a conscious decision for closing down the Corporate Person because the shareholders of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for the proposed dissolution of the Corporate Person. Hence, we pass the following order: ORDER I. This Adjudicating Authority in exercise of power conferred to it under Section 59(8) of the IBC, 2016 orders that the Corporate Person (Applicant Company) M/s. Sohangiri Metals and Alloys Private Limited shall stand dissolved from the date of this order. II. The liquidator is directed to communicate a copy of this order to the Respondent i.e., Registrar of Companies (Gujarat-Dadra and Nagar Haveli), wherein the registered office of the company is situated. Further, a copy of this order also be communicated to the IBBI, New Delhi and other Statutory Authorities for information. Such communication should be made within the stipula ..... X X X X Extracts X X X X X X X X Extracts X X X X
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