TMI Blog2022 (5) TMI 1253X X X X Extracts X X X X X X X X Extracts X X X X ..... rded by the liquidator by way of the present application, there is no legal impediment in allowing the prayer of the applicant. Accordingly, as per the section 59(8) of the IBC, 2016, the Prayer of Liquidator to dissolve the Company U/s. 59(7) of IBC is allowed and the said company is hereby dissolved and is voluntarily wound up with effect from the date of the present order. Application al ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the territorial jurisdiction of this Bench. 3. The following averments have been made in the petition:- a. In a meeting of the Board convened on 22.07.2020, a resolution recommending Voluntary Liquidation was passed. A declaration of Solvency dated 22.07.2020 was signed by the Directors namely, Mr. Dharamvir Agarwal and Mr. Vijiya Agarwal, being majority directors as per requirement of Sec. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Company as required under section 59(3) (b)(i) of the IBC, 2016. d. As per the requirement of Regulation 14 of the IBBI (Voluntary Liquidation Process) Regulations, 2017, the liquidator published a notification in the newspaper, name, Financial Express in English on 05.08.2020 and Jansatta in Hindi dated 05.08.2020 respectively seeking submission of the claims of the stakeholders, if a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion and payment to the Creditors, Members and stakeholders. h. In terms of Regulation 9 of the IBBI Regulations, the liquidator submitted a preliminary report to the company on 13.09.2020. i. The liquidation was completed on 30.06.2021. Liquidation Account of the Company was closed on 30.06.2021. The final Report of the liquidator was made on 16.07.2021 and same was dispatched to the IB ..... X X X X Extracts X X X X X X X X Extracts X X X X
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