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2021 (2) TMI 118 - Tri - Insolvency and BankruptcyDissolution of the Corporate Person through voluntary liquidation - Section 59(7) of the Code, 2016 read with Rules and Regulations therein - HELD THAT:- The final report showing the realisation and payment to the creditors and Members of the Company, containing the details as required under Regulation 38 of IBBI Regulations has been annexed with the application. The Liquidator filed this application along with final report forwarding a copy of the final report to the Registrar of Companies, Kerala and IBBI in Compliance of Section 59(6) of the Code, read with Regulations 32 and 34 of IBBI Regulations. The liquidator has produced the email sent to the Registrar of Companies and the Insolvency & Bankruptcy Board of India intimating the voluntary liquidation of the Corporate Debtor. He has also produced the screenshot of approval by IBBI on the aforesaid intimation along with a copy of IP-1 filed by him to the IBBI. In the application filed by the Liquidator under Section 59 of the Code for dissolution of this Corporate Person, this Tribunal noticed that the affairs of the Corporate Person have been completely wound up and its assets were liquidated. Hence, this Tribunal is of the considered view that the Corporate Person, through its Liquidator, voluntarily liquidated itself so as to get dissolved. This Tribunal approves the dissolution of the Corporate Person. The Liquidator is directed to file a copy of this order with the Registrar of Companies, Kerala and also the Insolvency and Bankruptcy Board of India within fourteen days from today in compliance of Section 59 (7 to 9) of the I & B Code - Application allowed.
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