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2022 (8) TMI 1202 - Tri - Insolvency and BankruptcySeeking dissolution of Sime Darby Edible Products India Private Limited - section 59(7) of the Insolvency and Bankruptcy Code, 2016 read with Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017 - HELD THAT:- After the public announcement was made, the Liquidator received a claim from an operational creditor i.e. B. Samrish & Co., Company Secretaries for a sum of Rs. Rs. 8,85,000/- which was settled. The copy of verification and admission of claim by the liquidator is annexed with the Application - since the liquidation process continued for more than 12 months, the Applicant has complied with Regulation 37(2) of the IBBI Regulations and held a meeting of contributories on 21.03.2020 and 22.03.2021 and also prepared the Annual Status Report indicating the progress made in the liquidation process. Since the Liquidator had already obtained no objection certificate dated 17.07.2019 from the Income Tax Department, therefore, the Income Tax Department was not served and hence no report from the Income Tax has been filed - In view of the foregoing steps taken and the satisfaction accorded by the Liquidator by way of the present application, there is no legal impediment in allowing the prayer of the applicant. The company is ordered to be dissolved - application allowed.
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