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TMI Blog2021 (4) TMI 1147X X X X Extracts X X X X X X X X Extracts X X X X ..... ruptcy Board of India (Liquidation Process) Regulations, 2016 (hereinafter referred to as "Liquidation Regulations") seeking the order of dissolution of Corporate Debtor i.e. M/s. Orbis Infinium Private Limited, having CIN No. U92190GJ2014PTC078907 on the ground that the assets of the Corporate Debtor have been fully liquidated. 2. The Corporate Debtor was admitted in Corporate Insolvency Resolution Process (hereinafter referred to as "CIRP") vide order dated 27.11.2019 at the instance of the Operational Creditor filed under section 9 of Insolvency and Bankruptcy Code of India (hereinafter referred to as "IB Code"), CA, Mr. Tejas Shah was appointed as IRP for the completion of CIRP. IRP formed the Committee of Creditors (hereinafter referr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... jarati daily newspaper "Divya Bhaskar" in Bhavnagar Edition. As stated above that there is only one creditor in the COC member namely "Mr. Udaybhai Maheshbhai Dave" for the amount of Rs. 4,00,000/-. The liquidator intimated the list of stakeholder to this Authority in pursuant to regulations 31(2) of Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016. Thereafter, the liquidator formulated the Stakeholder Consultation Committee (hereinafter referred to as "SCC") based on the list of stakeholder on 06.10.2020. 6. The liquidator submitted that the Audit Report of the Corporate Debtor dated 31.03.2020 provides that there are no assets (Tangible or Intangible) with the Corporate Debtor. 7. The Applicant/liquidator ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shall on application filed by the liquidator under Sub-Section (1) order that the Corporate Debtor shall be dissolved from the date of that order and the Corporate Debtor shall be dissolved accordingly." 11. Considering the facts and invoking the above provision of the Law, and finding that the assets of the Corporate Debtor have been fully and completely liquidated to the satisfaction of the Creditors, there remains nothing to keep the Corporate Debtor/Company alive. Hence, we pass the following order: ORDER I. The Corporate Debtor, M/s. Orbis Infinium Private Limited having CIN No. (CIN No. U92190GJ2014PTC078907) stands dissolved from the date of this order as per the Section 54(2) of the Insolvency and Bankruptcy Code, 2016. II. C ..... X X X X Extracts X X X X X X X X Extracts X X X X
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