2022 (4) TMI 778

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....tor seeking to order dissolution of the Applicant Company. 2. The aforesaid Company, M/s. Rushil Constructions (India) Private Limited (hereinafter referred to as Applicant Company) was incorporated on 04.05.2007 under the Companies Act, 1956 in New Delhi as a Company Limited by Shares having CIN: U45400KA2007PTC127672. The Registered Office of the Company was shifted from New Delhi to Karnataka in 2019 vide approval order dated 17.07.2019 issued by Regional Director, Delhi. Subsequently, the Certificate of Registration of Regional Director order for Change of State was issued by the Registrar of Companies, Bangalore vide order dated 04.09.2019. The Authorized Share Capital of the Company consisting of 10,00,000 Equity Shares of Rs. 10/-....

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....d on 14.10.2019 approved to sell the premises situated at No. 116, Unit 702, 7th Floor, Pride Hulkul, Lalbagh Road, Bengaluru-560027. Consequent to the sale of the above premises, the Company had no property, plant and equipment nor any employees on its rolls. As the Company had no plans to revive its business operations, it was proposed to discontinue the operations of the Company and wind up the affairs of the Company under the provisions of Voluntary Liquidation as prescribed under the IBC, 2016. ii. In view of the above, the financial statements of the Company for the period 01.01.2020 to 31.10.2020 were prepared in order to ascertain if the Company is solvent and able to pay its debts in full, from the proceeds of assets to be....

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....trar of Companies, Bangalore in form GNL-2 vide SRN R73910150 on 03.12.2020. Further, in accordance with Sec. 59(4) of IBC, 2016/the Special Resolution passed at the Extraordinary General Meeting held on 02.12.2020 to liquidate the Company was submitted to Registrar of Companies, Bangalore in Form MGT-14 on 07.12.2020. Further, in terms of Regulation 9 (1) of Chapter IV of the IBBI (Voluntary Liquidation Process) Regulations, 2017, the Liquidator submitted the preliminary report to the Company on 15.01.2021. vi. The Liquidator opened a Bank account in the name of the Company with HSBC Bank, Bangalore Branch for realization of the Liquidation assets and payment of the Liquidation proceeds to the entitled stakeholders. Subsequently, ....

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.... Report in accordance with Regulations 38 of the IBBI (Voluntary Liquidation Process) Regulations, 2017. 6. The liquidator has produced the report of Income Tax Department dated 04.08.2021 stating that there are no outstanding demand against the M/s. Rushil Constructions (India) Private Limited. 7. It is further deposed that necessary compliances of Section 59 and other relevant provisions of the IBC, 2016 r/w. Regulations have been made within 12 months from the date of commencement of the liquidation proceedings. 8. The Application is duly supported by the affidavit of the Liquidator. The Liquidator has distributed all the proceeds to the shareholders and has closed the Account. Further, in terms of Regulation 38 of the IBBI Regu....