Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + Tri Insolvency and Bankruptcy - 2019 (2) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (2) TMI 1498 - NATIONAL COMPANY LAW TRIBUNAL, BENGALURUCorporate insolvency process - HELD THAT:- Liquidator has complied with all the conditions and procedural requirements as specified under various provisions of Section 59 of the Insolvency and Bankruptcy Code, 2016 and also Regulation 3 of IBBI (Voluntary Liquidation Process) Regulations, 2017 before initiating Voluntary Liquidation Process of the Corporate Person. Shri Jayant Ranganath Deo, and two other Directors of Corporate Person by way of separated declarations even dated 22.07.2017 declared that they have made full enquiry into the affairs of the Company and have formed the opinion that the Company has no debt and that the Declaration of Solvency in the prescribed form is true and correct. All the issues relating to the affairs of the Company including shareholder's claim plus balance from liquidation proceeds stands resolved and nothing remains to be resolved in the Company. Thus we are of the considered opinion that the instant Petition/Application deserves to be allowed as prayed for.
|