The case pertains to an application filed by the Voluntary Liquidator, Mr. Brij Nandan Kalra, on behalf of AFA Exports Private Limited, seeking the dissolution of the company under Section 59 of the Insolvency & Bankruptcy Code, 2016, read with the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017. AFA Exports Private Limited was incorporated on November 2, 2004, with the object of carrying on business as an agent, broker, distributor, demonstrator, artist, importer, exporter, buyer, seller, stockiest, consultant, or collaborator dealing in various types of handicrafts. The company's authorized share capital was Rs. 1,00,000, divided into 10,000 equity shares of Rs. 10 each. The company was not successfully carrying on
…AFA Exports Private Limited was incorporated on November 2, 2004, under the Companies Act, 1956, with the objective of engaging in various business activities related to handicrafts. The company's authorized share capital was Rs. 1,00,000. Due to the lack of business prospects and financial resources, the Board of Directors decided to close down the company and initiate voluntary liquidation. A declaration of solvency was made on June 13, 2021. Mr. Brij Nandan Kalra was appointed as the liquidator. The liquidator made a public announcement of the commencement of liquidation and opened a bank account for realization and payment to creditors and members. Claims were received from creditors, and a preliminary report was submitted. The liquidator intimated the commencement
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The case pertains to an application filed by the Voluntary Liquidator, Mr. Brij Nandan Kalra, on behalf of AFA Exports Private Limited, seeking the dissolution of the company under Section 59 of the Insolvency & Bankruptcy Code, 2016, read with the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017. AFA Exports Private Limited was incorporated on November 2, 2004, with the object of carrying on business as an agent, broker, distributor, demonstrator, artist, importer, exporter, buyer, seller, stockiest, consultant, or collaborator dealing in various types of handicrafts. The company's authorized share capital was Rs. 1,00,000, divided into 10,000 equity shares of Rs. 10 each. The company was not successfully carrying on
…AFA Exports Private Limited was incorporated on November 2, 2004, under the Companies Act, 1956, with the objective of engaging in various business activities related to handicrafts. The company's authorized share capital was Rs. 1,00,000. Due to the lack of business prospects and financial resources, the Board of Directors decided to close down the company and initiate voluntary liquidation. A declaration of solvency was made on June 13, 2021. Mr. Brij Nandan Kalra was appointed as the liquidator. The liquidator made a public announcement of the commencement of liquidation and opened a bank account for realization and payment to creditors and members. Claims were received from creditors, and a preliminary report was submitted. The liquidator intimated the commencement
…AFA Exports Private Limited was incorporated…
The Board of Directors of the Company…
Sign in to view related legal provisions.