2021 (5) TMI 610

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....ations), 2016, seeking thereof to pass an order of dissolution of the Corporate Debtor viz., M/s. Business Jets (India) Private Limited. 2. In an Application filed under Section 9 of IBC, 2016 by an Operational Creditor vide CP/178/IB/2018, this Tribunal vide order dated 24.04.2018 had initiated the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor and appointed the Applicant herein as the Interim Resolution Professional (IRP) and subsequent thereto, it is seen that the IRP has caused the public announcement in Form-A on 27.04.2018 and the last date for submission of claims was fixed as 12.05.2018. 3. It was submitted by the Learned Counsel for the Applicant that the IRP received one claim from the Operationa....

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....sed and found to be in order by the Liquidator. It was submitted that there is no asset available with the Corporate Debtor apart from the bank balance and loans advances and a sum of Rs. 91.38 lakh which constitute the IT refunds and Trade receivables of Rs. 16.08 lakh which is unsecured in nature. 6. It was further submitted that the statutory liabilities of the Corporate Debtor viz., professional tax and gratuity and bonus due to the employees had been fully settled. 7. It is also seen that the Liquidator has annexed the detailed final report along with this Application and the Liquidator has also filed his Compliance Certificate in Form-H. A perusal of Form-H shows that the amount which was lying in the bank account of the Corpora....

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....orate debtor is registered." 10. From the averments made in the Application along with the perusal of the final report and the Compliance Certificate filed in Form-H by the Applicant, it is seen that the Corporate Debtor has been completely liquidated and in the circumstances as averred and as prayed for by the Applicant that an order for dissolution is required to be passed by this Tribunal under Section 54 of the IBC, 2016. Accordingly, we hereby order for the dissolution of the Corporate Debtor viz., M/s. Business Jets (India) Private Limited and the Liquidator is directed to forward a copy of this Order to the RoC concerned and also to the IBBI for its records within a period of 7 days from the date of this Order. ============= D....