https://www.taxtmi.com/caselaws?id=385055 The Company's petition for dissolution under Section 59 of the Insolvency and Bankruptcy Code, 2016 was granted. The Company, engaged in the tobacco business, underwent voluntary liquidation due to financial constraints. The Board of Directors passed a resolution for voluntary wind-up, and majority directors declared solvency. Following regulatory compliance, including public announcements and necessary filings, the Adjudicating Authority confirmed all requirements were met. The liquidator fulfilled obligations under the Code, leading to the Company's dissolution. Unclaimed funds were directed to the Companies Liquidation Account. The petition was disposed of, instructing the liquidator to file the order with the ROC within 14 days. en-us Thu, 27 Jun 2019 00:00:00 +0530 Thu, 29 Aug 2019 07:29:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385055 The Company's petition for dissolution under Section 59 of the Insolvency and Bankruptcy Code, 2016 was granted. The Company, engaged in the tobacco business, underwent voluntary liquidation due to financial constraints. The Board of Directors passed a resolution for voluntary wind-up, and majority directors declared solvency. Following regulatory compliance, including public announcements and necessary filings, the Adjudicating Authority confirmed all requirements were met. The liquidator fulfilled obligations under the Code, leading to the Company's dissolution. Unclaimed funds were directed to the Companies Liquidation Account. The petition was disposed of, instructing the liquidator to file the order with the ROC within 14 days. Case-Laws Insolvency and Bankruptcy Thu, 27 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385055