TMI Blog2022 (1) TMI 360X X X X Extracts X X X X X X X X Extracts X X X X ..... es 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 and has also closed the bank account. The Liquidator has also prepared and submitted the final report to the IBBI and RoC. The Application is duly supported by the affidavit of the Liquidator. Income Tax Department has issued No Objection Certificate on 15.06.2020 and no litigation is pending against the corporate person as on signing of the final report. That, all the assets have been realized and liabilities have been paid off and remaining balance had been repatriated to the shareholders of the company and the bank balance is nil. Also the Board has stated that only ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The registered office of the Company is presently situated at Unit 62, Level 18, One Horizon Center, Golf Course Road, DLF Phase 5, Sector-43, Gurgaon, Haryana which lies within the territorial jurisdiction of this Bench. The main objects of the company was to register, purchase, import, manufacture, sell, distribute, promote, market and detail pharmaceutical products. 3. It is averred that the company decided to close down its business operations in India and doesn t intend to carry on its business operations and pursue objects for which it was incorporated. After considering all the facts and circumstances the company has decided to voluntary liquidate the affairs of the company as per Section 59 of the Insolvency and Bankruptcy Code, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... special resolution to liquidate itself to the Insolvency and Bankruptcy Board of India (IBBI) through letter dated 12th September 2017. The Registrar of Companies, NCT of Delhi and Haryana by virtue of filing e-Form MGT 14 vide SRN G52677606 dated 12 September 2017 and the Liquidator has also received No Objection Certificates (NOC) for closure of M/s Daiichi Sankyo India Pharma Private Limited, from the Income tax Department vide their letter dated 12.06.2020. Copy of the said NOC is attached with the main petition as Annexure P-14. 8. The Liquidator made public announcement on 11th September 2017 in The Tribune (English Newspaper) and Dainik Tribune (Hindi Newspaper) Newspapers inviting claim from the stakeholders, if any as requi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent showing repatriation of amounts to the Shareholders and Nil Balance of Bank Account in Voluntary Liquidation is attached with the main petition and is marked as Annexure P-15. 12. We have heard the counsel appearing for the Liquidator for the Corporate Person and perused the records and extend provisions of the Code and Rules/ Regulations made thereunder. 13. In the present case, it may be seen from the records the main intention for the company to wind up its services is that company decided to close down its business operations in India and doesn t intend to carry on its business operations and pursue objects for which it was incorporated. Further, the applicant has informed the concerned authorities i.e. IBBI, RoC and Income Ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Insolvency Bankruptcy Code, 2016 with effect from the date of the present order. 16. The Liquidator is directed to communicate a copy of this order to the Registrar of Companies (NCT of Delhi Haryana), wherein the registered office of the company was situated. Such Communication should be made within the stipulated period of fourteen (14) days in terms of Section 59(9) of the Insolvency Bankruptcy Code, 2016 from the date of receipt of certified copy of this order. Further, a copy of this order should also be communicated to the IBBI, New Delhi and other statutory authorities for the information at the earliest. 17. The application is accordingly allowed and stands disposed of. - - TaxTMI - TMITax - Insolvency & Bankrupt ..... X X X X Extracts X X X X X X X X Extracts X X X X
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