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2019 (10) TMI 103 - NATIONAL COMPANY LAW TRIBUNAL HYDERABAD BENCH, HYDERABADMaintainability of petition - Dissolution of the corporate person - Voluntary dissolution - compliance with the requirements of Section 59 of the Insolvency and Bankruptcy Code, 2016 or not - HELD THAT:- The Application is filed by the liquidator under section 59 of the IB Code, 2016. This Adjudicating Authority has to see whether the liquidator has complied with all the provisions of section 59 of the IB Code, 2016 read with Regulation 3 of the Regulations before initiating voluntary liquidation of the company - It is on record that the board of directors have passed necessary resolution on 16.02.2018 to liquidate the company voluntarily and all the directors have also executed the Declaration of Solvency dated 07.03.2018 by way of an affidavit in terms of provisions of section 59(3)(a) of the IB Code, 2016. Thus, the voluntary liquidator has complied with the requirement of the provisions of Section 59 of the IB Code, 2016 and filed this application under Section 59(7) of the IB Code, 2016 to dissolve the Corporate Person viz., Akana Software Engineering India Private Limited. Petition disposed off.
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