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2020 (2) TMI 498 - Tri - Insolvency and BankruptcyVoluntary Liquidation and Dissolution of applicant company - Section 59 of the IBC 2016 - HELD THAT:- The Petitioner Company does not have any pending litigations or any outstanding debts or liabilities which could impact its financial position, further, proper books of account of the company as per law have been maintained, the company did not have any long-term contracts including derivatives contracts for which there were any foreseeable material losses and that there are no amount require to be transferred to the creditors/ debtors by the company. The petitioner Liquidator has duly complied with the prescribed procedure seeking for voluntary liquidation and dissolution of the petitioner company. It is also found that affairs of the company are completely closed down and the assets of the company have been completely liquidated. Thus, the petitioner company stands wound-up. The Petitioner Company deserves to be dissolved - petition allowed.
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