TMI Blog2022 (5) TMI 1201X X X X Extracts X X X X X X X X Extracts X X X X ..... this Order. Since the Debtor Company stood Dissolved vide this order and no proceedings are now pending, therefore the Registry is directed that the case file be consigned to records. Application allowed. - M.A. 4115/2019 In C.P.(IB) 1582(MB)/2017 - - - Dated:- 11-5-2022 - SHRI H.V. SUBBA RAO , MEMBER ( J ) And SHRI CHANDRA BHAN SINGH , MEMBER ( T ) For the Applicant : Mr. Aniruth Purusothaman , Advocate ORDER 1. It is an application filed by the Liquidator seeking an Order under Section 54 of the Insolvency and Bankruptcy Code, 2016 read with Regulation 14 of the Insolvency Bankruptcy Board of India (Liquidation Process) Regulations, 2016 seeking for early granting of Dissolution of Corporate Debtor. 2. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and bank balance in different accounts as under: Sr. No Particulars Amount 1 Axis Bank, Nashik CA No: 916020026337409 358 2 SBI Branch 01469 TDR 32011618632 1,67,007 3 SBI Branch 01469 TDR 31964919176 24,314 4 Laxmi Vilas Bank, Nashik CA: 0494360000000511 5,874 Total 1,97,553 5. There is no documentary evidence or share certificate available on records with respect to ownership of the equity share of Abhyudaya Co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ges for non-maintenance of MAB for Rs 28,737/- as on 9th Nov 2019 hence could not be transferred. ii. Transferred to liquidation account on 13th Dec 2019. iii. Transferred to liquidation account on 5th Nov 2019. iv. After debiting the bank charges the balance in the liquidation account is Rs 1,95,273.73/- and there is no payment related to liquidation process is paid from this account yet. 7. The loans and advances as appearing on the books are not realizable because all of them are created by book entry in the accounting software, not supported by the documents or details such as identification references of the party (such as PAN, Aadhar, address etc.) to conclusively identify the real debtor or nature of debts as appea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ch Rigved, Nashik Road Nashik 422101, having its Account Number 38828859971 is closed on 28.04.2022. 13. On 15.01.2021, the Learned Liquidator filed final Progress Report of the Corporate Debtor under Regulation 45 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016. On careful perusal of the Application and the Progress Report on record it is noticed that neither there are Assets left with the Corporate Debtor nor any trade receivables are available. As per the Learned Counsel for Liquidator the Debtor Company has no Asset which can be liquidated as is also evident from the Report of the Liquidator. 14. That the liquidator while preparing the Final progress report came to conclusion that there bein ..... X X X X Extracts X X X X X X X X Extracts X X X X
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