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2021 (6) TMI 689 - Tri - Insolvency and BankruptcyDissolution of Corporate Debtor - section 54 of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- Perusal of material on record goes to show that assets of the corporate debtor have been completely liquidated and proceeds have been distributed. Moreover, it is not the case that the proposed liquidation/dissolution of the company is going to affect adversely to its shareholders/ creditors or such dissolution is contrary to the provisions of law. The present petition deserves to be allowed in terms of its prayer clause - this Adjudicating Authority in exercise of the power conferred to it under section 54 of the Insolvency and Bankruptcy Code, 2016, orders and direct that the company "M/s. Bhoomi Ginning Pressing P. Ltd." shall stand dissolved from the date of this order. Petition allowed.
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