TaxTMI 
TaxTMI 
2021 (5) TMI 78
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.... admitted by this Tribunal by order dated 23.02.2018, wherein Mr. Sanjay Kumar Ruia was appointed as the Interim Resolution Professional (IRP). 3. The IRP published the public announcement for submitting the claim in the Free Press Journal (English) on 12.03.2018 and Navshakti (Marathi) on 14.03.2018. The IRP intimated all Banks, financial institutions and other creditors to submit the claim. The IRP took complete charge of the Corporate Debtor. He received the audited financial statements for F.Y. 2015-16 and 2016-17. The IRP received the claims till 07.04.2018. 4. The Committee of Creditor (CoC) was formed based on claims received. No Financial Creditor filed any claim and only the Operational Creditor filed the claim. Accordingly, CoC consisted only of Operational Creditors. The first meeting of the CoC was held on 11.04.2018. The first progress report was filed with this Tribunal on 25.04.2018 explaining all the details and the work done by the IRP till the First meeting of the CoC. 5. All the expenses incurred by the IRP, including public announcement, out of pocket expenses and remuneration were ratified. The CoC noted that the Company had no operations and no assets....
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....k the charge of the Corporate Debtor on 05.09.2018 and made public announcements in Free Press Journal (English) and Navshakti (Marathi) on 06.09.2018 and 07.09.2018 respectively. The Applicant visited the registered office of the Corporate Debtor on 10.09.2018. Intimation letter of liquidation and appointment of Liquidator were sent to the Statutory Authorities and Banks where the accounts of the Corporate Debtor were maintained. The Applicant also informed the MCA by uploading the INC-28 along with the copy of order of liquidation. The status of the company has since been changed to one 'under liquidation' as per Section 33(1)(b)(iii) the Code. 10. The Applicant filed the MA bearing no. 1325 of 2018 under Regulation 35 of IBBI (Liquidation Process) Regulations, 2016 (the Regulations) on 29.10.2018 seeking 'waiver' of appointment of registered valuer as the Corporate Debtor did not have any assets to be valued. Further, except Income Tax refund of Rs..2,08,58,804/- and VAT refund of Rs.. 1,33,61,192/- no other assets were available in the last balance sheet. The Tribunal by order dated 10.01.2019 allowed the Application and waived the appointment of Registered Valuers as requir....
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.....2020. 14. The Applicant has opened the liquidation account in HDFC Bank bearing account no. 50200037440281 in the name of 'Global Proserv Ltd. in Liquidation' on 27.02.2019. The Applicant has closed all the other bank accounts in the name of Corporate Debtor in the Bank of Maharashtra and HDFC Bank and got all the monies lying in the said accounts transferred to the Liquidation account. 15. The Applicant filed Appeals bearing reference nos. JC/APP/RAI/F001/83/2012-13/2018-19/B-149/046 Navi Mumbai dated 16.02.2019 & JC/APP/RAI/F-001/423/2018-19/2019-20/B-295/136 Navi Mumbai dated 31.07.2019 with the State Tax Authority under MVAT Act, 2002 for refund which were allowed. Pursuant to which the Corporate Debtor received Rs.. 1,30,39,302/- & Rs..17,30,405/- respectively. One more Appeal bearing reference no. JC/APP/F-001/Raigad/528/14-15/2018- 19/B-85/031 Navi Mumbai dated 17.01.2019 was dismissed as withdrawn. The amounts received by the State Tax Authority as per abovementioned orders on 09.10.2019 for Rs.. 17,30,405 and on 28.11.2019 for Rs.. 1,25,99,361/- in bank account number 00842120000012 the HDFC Bank, Dadar Branch and the same was transferred into the Liquidation Accoun....
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....anekji Wadia Building 17.01.2020 5. 00602020005413 (Gratuity A/c) HDFC Bank, Manekji Wadia Building 17.01.2020 6. 00842120000012 HDFC Bank, Imperial Mahal 17.02.2020 18. The Applicant on 20.02.2020 took the undertaking from Mr. Ganesh Naik the erstwhile director of the Corporate Debtor that, there are no litigation pending by or against Corporate Debtor. There are no pending liabilities in the name of Corporate Debtor. Except the bank account mentioned above there are no other bank accounts in the name of Corporate Debtor. There are no assets in the Corporate Debtor. 19. After the distribution made by the Applicant, she had made an application to HDFC Bank, Fort Branch for closure of the Liquidation Bank account on 28.02.2020. However, as the application was misplaced by the bank personnel. The Applicant again submitted the application on 25.06.2020 for closure of the Liquidation Bank Account after which the Liquidation bank account held with HDFC Bank has been closed. 20. That the Applicant prepared the Final Report and filed the same with the Registry of this Tribunal on 26.02.2020 and the same was intimated to the Bench on 27.02.2020 at the ti....