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TMI Blog2022 (3) TMI 1219X X X X Extracts X X X X X X X X Extracts X X X X ..... T ) For the Appellant : Srilakshmi Purushotham ORDER Manoj Kumar Dubey , Member ( T ) 1. This Application has been filed under Section 59 of the IBC, 2016, R/w. IBBI (Voluntary Liquidation Process) Regulations, 2017 by the Liquidator seeking to order dissolution of the Applicant Company. 2. The aforesaid Company, M/s. Priharitam Technologies Private limited (hereinafter referred to as Applic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1, 36th Main Road, Bangalore-560068, which lies within the territorial jurisdiction of this Bench. 4. The following averments have been made in the Petition: i. The Board of Directors of the Company in their meeting held on 07.02.2020 proposed to liquidate the Company voluntarily due to non-availability of business prospect and long-term financial resources it was financially not viable to car ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ions of the Company for the previous one year were filed with Registrar of Companies, Bangalore in the form GNL-2 vide SRN R35268861. iv. It is further stated that the Liquidator made a public announcement of commencement of Liquidation in Financial Express (English Newspaper) and Hosadigantha (Kannada Newspaper) on 09.03.2020 seeking submission of the claim by stakeholders, if any, within 30 da ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 020. Further, as per provisions of Section 178 of the Income Tax Act, 1961, the Liquidator intimated the commencement of Liquidation, appointment of Liquidator and received the No Objection Certificate from the Income Tax Department on 07.12.2020. vii. Subsequent to the payment to Members of the Company, the Liquidator has closed the Liquidation account. Further, the Liquidator prepared the Fina ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the shareholders and has closed the Account. Further, in terms of Regulation 38 of the IBBI Regulations, the liquidator has submitted the Final Report to the IBBI through email on 23.02.2021 and ROC in Form GNL-2 on 19.02.2021. 8. In view of the foregoing and in view of the satisfaction accorded by the Liquidator by way of the present Application, duly accompanied by her affidavit, the said Appli ..... X X X X Extracts X X X X X X X X Extracts X X X X
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