TMI Blog2022 (2) TMI 549X X X X Extracts X X X X X X X X Extracts X X X X ..... er upon the Registrar of Companies (RoC), Kanpur immediately and, in any case, within fourteen days of receipt of this order. The RoC shall take further necessary action upon receipt of a copy of this order - Petition disposed off. - CP (IB) No. 75/ALD/2021 - - - Dated:- 31-1-2022 - Rajasekhar V.K., Member (J) And Balraj Joshi, Member (T) For the Appellant : Party-in-Person ORDER Rajasekhar V.K., Member (J) 1. The court convened through videoconferencing. 2. This is a petition filed under section 59 of the Insolvency and Bankruptcy Code, 2016 (hereinafter called the Code ) by a Corporate Person, viz., Jai Maa Vaishno Loha Private Limited [CIN: U27310UP2007PTC033668] through Mr. Alok Kumar Kuchhal, Liquidator, for vo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... company voluntarily. Pursuant to this, the Board of Directors of the Corporate Person, at its meeting held on 28th February 2020, resolved to liquidate the Corporate Person voluntarily under section 59 of the Code. Procedural compliances 7. It is submitted that the majority of directors of the Corporate Person have as per section 59(3)(a) of the Code, approved the Declaration of Solvency at the Board meeting held on 28th February 2020. The Directors have declared that they have made full inquiry into the affairs of the Corporate Person and are of the opinion that the Corporate Person has no assets, debts and liabilities, and the Corporate Person is not being liquidated to defraud any person. The Directors have appended audited financ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of India (Voluntary Liquidation Process) Regulations, 2017 in Financial Express in English and in Jansatta in Hindi on 14th March 2020 inviting the submission of claims due from the Corporate Person by various stakeholders. Copies of newspaper cuttings are annexed to the petition as Annexure 6. 13. The aforesaid public announcement was also submitted to the Insolvency and Bankruptcy Board of India (IBBI) and was hosted on the IBBI's website on the said date. 14. In response to the advertisement published in the newspapers, the Liquidator received eight claims which had been duly verified and admitted by the liquidator and after due verification of the claims the liquidator has distributed the amount to all the claimants. 15. Th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... annexed his final report dated 15th October 2021 upon completion of Liquidation. Copy of the same is annexed to the Company Petition marked - Annexure 9. 22. It is stated that subsequent to the payment to the members/shareholders of the company, the Liquidator has closed the liquidation account as the whole liquidation process was completed on 30th September 2021. 23. The Liquidator has annexed evidence for submission of his final report to Registrar of Companies and to Insolvency and Bankruptcy Board of India together with all enclosures on 21st October 2021. Copy of the same is annexed to the Company Petition marked Annexure - 9. 24. On hearing the submissions made by the liquidator and perusing the documents annexed to the peti ..... X X X X Extracts X X X X X X X X Extracts X X X X
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