TaxTMI 
TaxTMI 
2022 (4) TMI 1165
X X X X Extracts X X X X
X X X X Extracts X X X X
.... Dharminder Singh, Member (J) 1. The present application is being filed by applicant/liquidator of the Corporate Debtor, under Section 54(1) of the Insolvency and Bankruptcy Code, 2016, (hereinafter referred as "the Code") read with Regulation 45(3) of insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 (hereinafter referred as "Regulations) for early dissolution of t....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ade the public announcement on 26.06.2020 in Jansatta (Hindi) and in Indian Express (English) on 27.06.2020 and to call upon the stakeholders to submit their claims. Pursuant to the public announcement claims received from the stakeholders were verified and the list of the stake holders in terms of regulation 31(2) of Liquidation regulation was placed on record along with the preliminary report da....
X X X X Extracts X X X X
X X X X Extracts X X X X
....2016 seeking directions against Ex-director was pending and was listed on 01.08.2019 due to which the present application could not be filed within proposed time line. 7. The liquidator was not able to meet the liquidation cost as corporate debtor has no assets except Rs. 8,897/- only in the ICICI Bank Account having account number 033205004850. Therefore, dissolution application of the liquidati....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... order and the corporate debtor shall be dissolved accordingly. (3) A copy of an order under sub-section (2) shall within seven days from, the date of such order, be forwarded to the authority with which the corporate debtor is registered." 9. In the light of the above, it is noticed that the Corporate Debtor does not have assets to be liquidated, hence an application is moved for the "Dissolut....