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2021 (4) TMI 722 - Tri - Insolvency and BankruptcyDissolution of Corporate Debtor - Section 54 of the IBC, 2016 read with Regulation 44(1) & 45(3)(b) of IBBI (Liquidation Process) Regulations, 2016 - HELD THAT:- The facts and circumstances of the case have established that due process of Liquidation as per extant provisions, was followed by the Liquidator to liquidate the assets of Company and the realized amounts were also distributed to the respective claimants. Therefore, the liquidation process was deemed to have been completed under Chapter III of Part II of the Code and thus it would be just and proper for the Adjudicating Authority to dissolve the Company, by directing the Liquidator to deposit the balance amount of ₹ 1,25,000/- into Companies Liquidation Account in the Public Account of India, as per law. No party is going to be affected by dissolving the company. M/s. Oasis Agro Infra Limited., the Corporate Debtor, is hereby dissolved with immediate effect - Liquidator is permitted to close the pending Liquidation Bank Account within three weeks from the date of receipt of copy of this order - application allowed.
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