2022 (3) TMI 815

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....2016 ("Liquidation Process Regulations") by the Liquidator of Ruchika Tradelink Private Limited (CIN: U25201WB1999PTC160634) ("Corporate "Debtor") praying for the distribution of unsold assets of the Corporate Debtor amongst the stakeholders in proportion of their claim. 3. This Adjudicating Authority, in CP (IB) No. 785/KB/2019, passed the order for commencement of liquidation in the matter of the Corporate Debtor vide order dated 03.02.2020 and appointed the Applicant herein as the Liquidator. The applicant submits that Public Announcement, inviting claims from the stakeholders, was published by the Applicant on 7th February, 2020. Accordingly, seven unsecured financial creditors submitted their claims with the Applicant. 4. The Cor....

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.... advance of Rs. 27,527/- given to Gujrat Metallic Coal & Coke Ltd. and advance of Rs. 1,01,700/- to Income Tax. However, Gujrat Metallic Coal & Coke Ltd. is under CIRP and there is a huge demand of income tax with respect to the Corporate Debtor. Hence, the said advances have a minimal chance of recovery. e. The balance sheet of the Corporate Debtor reveals that an amount of Rs. 61,886.62/- is lying in five different banks in separate bank accounts. The Applicant sent letters to the banks on 6th September, 2021 for transferring the amount lying in the said bank accounts to the liquidation account of the 4 Corporate Debtor but no reply has been received from any of the Banks except SBI (Jamnagar). The amounts mentioned above have no....