TaxTMI 
TaxTMI 
2022 (8) TMI 1108
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....stant Company Petition, which are just and necessary for adjudication, are narrated hereunder:- 2.1The Applicant Company i.e. M/s Huawei Telecom Services (India) Pvt. Ltd. is a company, incorporated under the provisions of the Companies Act, 1956 having CIN No.U64200HR2009FTC039043 and its registered office is situated at 7th Floor, Tower-A, Spaze I Tech Park, Sohna Road, Sector-49, Gurgaon - 122001, Haryana. 2.2 It is stated that the main objects of the company was to carry on the business of manufacture, assembly and development, integration of communication/network products and solutions and providing related services. Moreover, the company did not commence any business since incorporation. The ultimate holding company is Huawei Technologies (Hong Kong) Co. Ltd. Cooperatief UA. The Memorandum of Association and Articles of Association of the Company, a copy of which is attached as Annexure-A of the petition. 2.3The Authorized Share Capital of the Applicant Company is Rs.2,50,00,000/- divided into 25,00,000 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, in the petition. 2....
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....bout the voluntarily liquidation and appointment of liquidator in Form MGT 14 and Form GNL 2 and the same was approved and taken into record by Registrar of Companies, NCT Delhi & Haryana. A copy of Form MGT-14 and Form GNL-2 has been annexed with the petition as Annexure-F. 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 15.06.2019 to the members of the applicant company on 15.06.2019. A copy of Preliminary Report has also been annexed with the petition as Annexure-G. 2.9It is stated in the petition that the applicant company did not have any creditors and has not received any claims from the financial creditors. 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. The copy of No Objection Certificate from the Income Tax Department is attached with petition as Annexure-H. 2.11 In compliance of Regulations 34 of the Insolvency and Bankruptcy Code Board of India (Voluntary Liquidati....
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....ub-section (2), voluntary liquidation proceedings of a corporate person registered as a company shall meet the following conditions, namely:- a. a declaration from majority of the directors of the company verified by an affidavit stating thati. they 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 ....
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....ny by invoking the provisions of voluntary liquidation under Section 59 of the Code. 6. It has been mentioned in the petition that the liquidator has not received any claims, therefore, no prejudice and loss will be caused to anyone, if the company is dissolved. In support of the same, the company has duly passed the requisite Special Resolution in its Extra Ordinary General Meeting on 01.05.2019 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. Yash Jeet Basrar, Insolvency Professional, having Registration No. IBBI/IPA-002/IP-N00275/2017-18/10833 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/dissoluti....