TaxTMI 
TaxTMI 
2019 (9) TMI 453
X X X X Extracts X X X X
X X X X Extracts X X X X
....e Insolvency and Bankruptcy Code, 2016 (herein after referred to as the IB Code, 2016) read with the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) for dissolution of the Corporate Person. 2. The brief of the averments made in the application by the Voluntary Liquidator are as follows: (a) The Company under voluntary liquidation was registered under the Companies Act, 1956 a private company limited by shares in the State of Telangana and it is having its registered office at H No.29-1357/l/lA, Deendayal Nagar, Old Safilguda, Secunderabad, Hyderabad - 500056, Telangana, India. (b) The authorised capital of the Company under voluntary liquidation is Rs. 15,00,000/- (Rupees Fifteen Lakhs Only) divided into 1,50,0....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... a special resolution required under Section 59 of the IB Code read with the IBBI (Voluntary Liquidation process) Regulations, 2017 to liquidate the Company voluntarily and appointed Mr. Rabi Narayan Pal, an Insolvency Professional, having IP Registration No. IBBI/IPA-002/IP-N00289/2017-18/10847 to act as liquidator of the Company. (f) The liquidator made public announcement for commencement of liquidation in form A, in Financial Express (English) and Nava Telangana (Telugu) on 13.12.2017, seeking submissions of the claim by the stakeholders, if any, within 30 days from the date of commencement of liquidation i.e. 11.12.2017. The public announcement was simultaneously submitted to the IBBI to place the same on its website and the same was....
X X X X Extracts X X X X
X X X X Extracts X X X X
....of the company, either in form of capital or dividend. (l) The Auditors Certificate on the liquidation, showing receipts and payments pertaining to liquidation since the liquidation commencement date is enclosed with the petition. (m) The Liquidator has also prepared and submitted the final report dated 24.11.2018, in respect of realization and disbursement to the contributories to the Insolvency and Bankruptcy Board of India by email on 10.12.2018 and the Registrar of Companies. (ROC) on 10.12.2018. 3. The liquidator while reiterating the above facts prayed this Adjudicating Authority to pass an order to dissolve the company. 4. Heard, Shri P. Subash, Counsel for the Voluntary Liquidator. 5. The Registrar of Companies, Hyderabad vid....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... 11.12.2017 in which the approval for liquidating the company was also given. The Company has also filed MGT 14 informing the special resolution passed by the members to the ROC. 9. It was also informed to the Adjudicating Authority that the Company under voluntary liquidation has no secured or unsecured creditors as on date of filing of the application. 10. The liquidator in compliance with the Regulations had also published public announcement in Form-A one in Financial Express (English) and other in Nava Telangana (Telugu) and the copies of such public announcement are also placed on record. 11. All the above facts would show that the voluntary liquidator has complied with the requirement of the provisions of section 59 of the IB Code....