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TMI Blog2022 (10) TMI 327X X X X Extracts X X X X X X X X Extracts X X X X ..... lli , Member ( Judicial ) 1. The Court is convened through Video Conference. 2. This is a Company Petition filed under section 59 of the Insolvency and Bankruptcy Code, 2016 (hereinafter called Code ) by a Corporate person, named Shift India Private Limited [CIN: U74999PN2012FTC143023] through Mr. Rajkumar Mahto, Liquidator, Registration No.- IBBI/IPA-002/IP-N00723/2018- 19/12209, to initiate Voluntary Liquidation proceedings under Code. The Corporate Person is a subsidiary company of namely Shift Inc., Japan. The Corporate Person was involved in the business of providing software-based services. The Corporate Person has complied with requisite formalities and procedure of liquidation as per law and has filed this Petition for its di ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Company of previous two financial years viz. as at 31.03.2018 and 31.03.2019. 6. The members of the Company in their Extraordinary General Meeting held on 16.07.2019 passed a Special Resolution to Liquidate the Company voluntarily and to appoint Mr. Rajkumar Mahto, Insolvency Professional, as liquidator, having Registration No. IBBI/IPA-002/IP-N00723/2018-19/12209, with a remuneration of Rs. 1,00,000/- exclusive of out of pocket expenses, at actuals, towards Voluntary Liquidation of the company. 7. The Liquidator made a public announcement of commencement of liquidation in Form A of Schedule I as per regulation 14 of Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2016 in the Business Standard (E ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lso submitted the NOC issued by the Income Tax Department to him vide letter dated 7.01.2020 which is annexed at pp.122-125 of the Company Petition. 12. The Liquidator has also intimated various other departments viz. Sales Tax Department vide letter dated 01.08.2019, Employees State Insurance Corporation vide letter dated 15.07.2019, Regional Provident Fund Commissioner vide letter dated 29.07.2019, The Commissioner of Central Goods and Service Tax (CGST) vide letter dated 12.08.2019, Maharashtra Labour Welfare Board vide letter dated 27.08.2019, Software Technology Park Authorities vide letter dated 25.09.2020, Director General of Foreign Trade vide e- mail dated 07.07.2020. 13. As per regulation 34 of IBBI (Voluntary Liquidation Pr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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