The case pertains to the voluntary liquidation of Aaiswarya Township Developers Private Limited under Section 59(7) of the Insolvency and Bankruptcy Code, 2016, read with the IBBI (Voluntary Liquidation Process) Regulations, 2017. The company, incorporated in 1995, sought to dissolve due to the non-availability of business prospects and long-term financial resources. The Board of Directors passed a resolution for voluntary liquidation on 07.12.2022.
Aaiswarya Township Developers Private Limited, incorporated on 12.10.1995, sought voluntary liquidation due to a lack of business prospects and financial resources. The company's authorized share capital was Rs.3,00,00,000, divided into 30,00,000 equity shares. The Board of Directors resolved to pursue voluntary liquidation on 07.12.2022. The majority directors declared solvency on 07.12.2022. The company had no creditors. A public announcement was made on 12.12.2022, with a claim submission deadline of 09.01.2023. The liquidator opened a bank account and distributed the remaining cash to shareholders after covering liquidation costs. The liquidation was intimated to the Income Tax Department on 16.12.2022. The liquidator submitted a preliminary report on 20.02.2023
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The case pertains to the voluntary liquidation of Aaiswarya Township Developers Private Limited under Section 59(7) of the Insolvency and Bankruptcy Code, 2016, read with the IBBI (Voluntary Liquidation Process) Regulations, 2017. The company, incorporated in 1995, sought to dissolve due to the non-availability of business prospects and long-term financial resources. The Board of Directors passed a resolution for voluntary liquidation on 07.12.2022.
Aaiswarya Township Developers Private Limited, incorporated on 12.10.1995, sought voluntary liquidation due to a lack of business prospects and financial resources. The company's authorized share capital was Rs.3,00,00,000, divided into 30,00,000 equity shares. The Board of Directors resolved to pursue voluntary liquidation on 07.12.2022. The majority directors declared solvency on 07.12.2022. The company had no creditors. A public announcement was made on 12.12.2022, with a claim submission deadline of 09.01.2023. The liquidator opened a bank account and distributed the remaining cash to shareholders after covering liquidation costs. The liquidation was intimated to the Income Tax Department on 16.12.2022. The liquidator submitted a preliminary report on 20.02.2023
…Aaiswarya Township…
The Board of Directors…
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