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2020 (5) TMI 244 - Tri - Companies LawVoluntary Liquidation - no default committed - HELD THAT:- As per section 59 of the Code, "A Corporate Person, who intends to liquidate itself voluntarily and has not committed any default, may initiate voluntary liquidation proceedings under the provisions of Chapter V of the Code subject to fulfilment of conditions are prescribed thereunder. The Liquidator has complied with all the conditions and procedural requirements as specified under various provisions of section 59 of the Insolvency and Bankruptcy Code, 2016 and also Regulation 3 of IBBI (Voluntary Liquidation Process) Regulations, 2017 before initiating Voluntary Liquidation Process of the Corporate Person. The Liquidator has followed due process of law, and thus affairs of the Company were completely wound up, and its assets were completely liquidated - the instant Petition/Application deserves to be allowed - M/s. Viyes Consultancy Private Limited, Corporate Person is hereby dissolve with immediate effect.
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