https://www.taxtmi.com/caselaws?id=424682 The Tribunal ordered the dissolution of a Corporate Person following a voluntary liquidation process under section 59 of the Insolvency and Bankruptcy Code, 2016. The decision was based on the lack of profit-making opportunities post-handover to the Government of India. Procedural compliances, including Declaration of Solvency, EGM resolutions, and asset distribution, were duly followed. The Liquidator's detailed report outlined asset realization, creditor payments, and compliance with IBBI regulations. The Tribunal, satisfied with the process, directed submission of the dissolution order to the Registrar of Companies for necessary action. en-us Fri, 01 Jul 2022 00:00:00 +0530 Thu, 07 Jul 2022 09:03:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424682 The Tribunal ordered the dissolution of a Corporate Person following a voluntary liquidation process under section 59 of the Insolvency and Bankruptcy Code, 2016. The decision was based on the lack of profit-making opportunities post-handover to the Government of India. Procedural compliances, including Declaration of Solvency, EGM resolutions, and asset distribution, were duly followed. The Liquidator's detailed report outlined asset realization, creditor payments, and compliance with IBBI regulations. The Tribunal, satisfied with the process, directed submission of the dissolution order to the Registrar of Companies for necessary action. Case-Laws Insolvency and Bankruptcy Fri, 01 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424682