9911796707
TMI Blog2022 (7) TMI 1188X X X X Extracts X X X X X X X X Extracts X X X X ..... order. The Liquidator is directed to preserve a physical or electronic copy of the reports, registers, books of account referred to in Regulation 8 and 10 for at least eight years after the dissolution of the corporate person, either with himself or with an information utility. Application allowed. - IB-52/(ND)/2022 - - - Dated:- 4-7-2022 - P. S. N. Prasad , Member ( J ) And Rahul Bhatnagar , Member ( T ) For the Appellant : Rakesh Kumar ORDER P. S. N. Prasad , Member ( J ) 1. This application is filed by the Voluntary Liquidator, Mr. Mast Ram, who was appointed by the company at its Extraordinary General Meeting held on 31.07.2017 to act as the liquidator of the Company under section 59 of the Insolvency and Bankrup ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ies of NCT of Delhi and the Insolvency and Bankruptcy Board of India were notified within the prescribed time of seven (7) days of passing of the said Resolution. e) As per the requirement of Regulation 14 of the IBBI (Voluntary Liquidation Process) Regulations, 2017, the voluntary liquidator published a notification in the newspaper, namely, Top Story in English and Awam-e-Hind (Hindi) dated 04.08.2017. f) That pursuant to Section 59(3)(a) and (b) the company duly prepared and filed a Declaration of Solvency along with audited financial statements and record of business operations of the company for the previous two years with the Registrar of Companies, NCT of Delhi, in Form GNL-2 dated 27.02.2018, which was duly approved by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ating the progress of liquidation of the Company. m) That the Liquidator, after meeting the costs of liquidation, distributed the proceeds of realization to the stakeholders, in their capacity as shareholders of the Company, which were debited from the Liquidation bank account in accordance with Section 53 of the Insolvency and Bankruptcy Code, 2016, to the extent of the amount available, in proportion to their respective shareholdings in the Corporate Person. n) The Applicant submitted that no other assets of the Corporate Person were left to be realized; the liquidator closed the bank account having account number 918020080853118 on 09.07.2021, which was being used in the liquidation process for receipt and payment of proceeds. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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