TaxTMI 
TaxTMI 
2022 (7) TMI 239
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....ies Act, 1956 having CIN No.U51102PB2009PTC033383 and its registered office is situated at B-XXX-6754 Focal Point, Ludhiana, Punjab - 141010. 2.2 It is stated that the object of the company was to carry on the business of broker, agent or representative of any person, firm, company or trust for the Indian and foreign customers for stationary goods, office equipments and the products in relation thereto. Memorandum of Association of the Company, a copy of which is attached as Annexure A-1 of the petition. 2.3 The Authorized Share Capital of the Applicant Company is Rs.5,00,000/- divided into 50,000 (Fifty Thousand) Equity shares of Rs.10/- each. The issued, subscribed end paid-up share capital of the Company is Rs.1,50,000/- divided into 15,000 Equity shares of Rs.10/- each. Copy of Master Data of the applicant company, as available on the website of MCA, has been annexed as Annexure A-2 in the petition. 2.4 On perusal of the record, it is found that the applicant company has complied with Section 59(3) of the Code, by filing declaration signed by the Board of Directors stating, inter alia, that full enquiry into the affairs of the company has been done and the company has no deb....
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...., NCT Delhi & Haryana. A copy of Form MGT-14 and Form GNL-2 has been annexed with the petition as Annexure A-8 & A-7. 2.8 In compliance of the Regulation 8(1) (a) and (9) of the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017 the liquidator had submitted a Preliminary Report dated 28.12.2019 to the members of the applicant company on 28.12.2019. A copy of the Preliminary Report has also been annexed with the petition as Annexure A-14. 2.9It is stated in the petition that the applicant company has not received any claims except shareholders as there are no creditors of the company as on the liquidation commencement date. 2.10 It is averred that the liquidator informed the Income Tax Department informing about the voluntary liquidation of the company as well as his appointment as liquidator of the company. A copy of letter dated 23.12.2019 sent to the Income Tax Officer is attached with petition as Annexure A-12. 2.11 In compliance of Regulations 34 of the Insolvency and Bankruptcy Code Board of India (Voluntary Liquidation Process) Regulations, 2017, the liquidator opened a bank account in the name of the 'Dunwell Enterprises Private Li....
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....hey have made a full inquiry into the affairs of the company and they have formed an opinion that either the company has no debt or that it will be able to pay its debts in full from the proceeds of assets to be sold in the voluntary liquidation; and ii. the company is not being liquidated to defraud any person; b. the declaration under sub-clause (a) shall be accompanied with the following documents, namely;- i. audited financial statements and record of business operations of the company for the previous two years or for the period since its incorporation, whichever is later; ii. a report of the valuation of the assets of the company, if any prepared by a registered valuer; c. within four weeks of a declaration under sub-clause (a), there shall bei. a special resolution of the members of the company in a general meeting requiring the company to be liquidated voluntarily and appointing an insolvency professional to act as the liquidator; or ii. a resolution of the members of the company in a general meeting requiring the company to be liquidated voluntarily as a result of expiry of the period of its duration, if any, fixed by its articles or on the occurrence of ....
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.... on 13.11.2019 by confirming the decision of its Board of Directors and proposing for its Voluntary Liquidation. The EOGM had also passed a further resolution to appoint Mr. Rajeev Bhambri, Insolvency Professional, having Registration No. IBBI/IPA-002/IP-N00152/2017-18/10399 as Liquidator of the applicant company. 7. From the perusal of the record of the case, it is seen that the Liquidator, after his appointment has duly performed his duties and completed necessary formalities to complete the liquidation process of the applicant company, which has been averred in the present petition and, thus, the liquidator has prayed for an order from this Tribunal to dissolve the applicant company. 8. Since there is no objection received from any angle opposing the proposed voluntary liquidation/dissolution of the company either from the side of the shareholders or from creditors, nor any adverse comment have been received from the public at large against such liquidation/dissolution, despite there being a public announcement by the liquidator and also updation of the same in the website of the Insolvency and Bankruptcy Board of India (IBBI). It is also evident from the record that the propo....