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2022 (4) TMI 76 - Tri - Insolvency and BankruptcySeeking dissolution of the Petitioner Company - Section 59 of the Insolvency and Bankruptcy Code, 2016 read with Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017 - HELD THAT:- In the present case, it can be seen that the Company is incorporated to carry on the business of coal loading, coal transportation and allied materials and to enter into contracts, submit tenders and execute work orders. The company was incorporated on 25.06.2004 to carry on the business of transportation and loading of coal and it is not carrying on any business from last past many years and there is no business opportunities under consideration for future. Therefore, the Board of Directors in its meeting on 15.05.2017 have decided to voluntary liquidation of the company and members in EOGM dated 06.06.2017 have approved the resolution for voluntary liquidation of the company and approving the appointment of liquidator. Further, the liquidator has informed the concerned authorities i.e. IBBI, RoC and Income Tax Department and has also made paper publication in Form A in two newspapers - the Liquidator has completed the final distribution of assets. The voluntary liquidator has also prepared and submitted the final report to the IBBI and RoC vide speed post on 10.08.2019. The application is duly supported by the affidavit of the liquidator. To meet the ends of justice the Petition Company is hereby dissolved in terms of Section 59(8) of the Insolvency & Bankruptcy Code, 2016 with effect from the date of the present order - Petition disposed off.
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