9911796707
TMI Blog2021 (5) TMI 105X X X X Extracts X X X X X X X X Extracts X X X X ..... Code, 2016, read with The Insolvency & Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017. 2. The Ld. Counsel, on behalf of the Liquidator, stated that the Company, Lipika Collection Private Limited is not able to carry on the business activities as per the main objects stated in the Memorandum and Articles of Association of the Company and the Company had no operations and activities. Therefore, in view of the cost and time involved in ensuring the compliances, decision was taken to liquidate the Company voluntarily as per the provisions of Section 59 of the Insolvency and Bankruptcy Code, 2016, read with Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017 and to distribute t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion is attached with the Application as "Annexure - D". 7. The members of the Company in their extraordinary general meeting held on 31st December, 2018, passed the special resolution containing the terms and conditions of appointment of Liquidator and remuneration payable, and to voluntarily liquidate the Company and to appoint CS Mr. Saurabh Basu, as the Liquidator of the Company to exercise all powers and perform such actions as provided under the Insolvency and Bankruptcy Code, 2016 and Liquidation Regulations, 2017. The copy of the Special Resolution, consent of Liquidator, are enclosed with the Application and marked as "Annexure - E". 8. The estimate of the details of assets, their realizable value along with outstanding liabilitie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gal. The copy of final report along with proof of service to IBBI and ROC, West Bengal are attached with the Application as "Annexure - M". 13. The Ld. Counsel on behalf of the Liquidator stated that pursuant to Section 59(7) of the Insolvency and Bankruptcy Code, 2016, read with Regulation 38(3) of the Liquidation Regulations, 2017, this Application has been filed for dissolution of the Corporate Person along with final report as prepared under Regulation 38(1) of the Liquidation Regulations, 2017. 14. It is also stated that the Corporate Person has duly complied with the applicable provisions of the Companies Act, 2013 and Insolvency and Bankruptcy Code, 2016, and its Regulations, in the course of its voluntary liquidation process and n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ents and record of business operations of the company for the previous two years or for the period since its incorporation, whichever is later; ii) A report of the valuation of the assets of the company, if any, prepared by registered valuer; (c) within four weeks of a declaration under sub-clause 9(a) there shall be- i) A special resolution of the members of the company in a general meeting requiring the company to be liquidated voluntarily and appointing an insolvency professional to act as the liquidator; or ii) A resolution of the members of the company in a general meeting requiring the company to be liquidated voluntarily as a result of expiry of the period of its duration, if any, fixed by its articles or on the occurrence of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bmitted to the members of the company which contains all the legal and regulatory requirements that the Company has no loans or borrowings payable to any financial Institutions, or Banks or Government and no dues are payable to debenture holders. It has been stated in the Report that on the basis of examination of books and records of the Company and according to the information and explanation provided to the Auditors, no fraud by the company or on the company by is Officers or employees have been noticed or reported during the period covered in the audit. The affidavit also accompanies Balance sheet for the year ended 31st March, 2018. 19. The Liquidator has also filed Liquidator's final statement of accounts dated 4th July, 2019 and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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