The case pertains to a Company Petition filed under Section 59(7) of the Insolvency & Bankruptcy Code, 2016, regarding the voluntary liquidation of M/s. Aqui Software Lab Private Limited. The corporate person, a wholly-owned subsidiary of a foreign company, sought voluntary liquidation due to the non-viability of operating in India without incurring significant losses. The Board of Directors declared under Section 59(3) of the IBC that the corporate person was not being liquidated to defraud anyone and had made a full inquiry into its affairs.
M/s. Aqui Software Lab Private Limited, a wholly-owned subsidiary of a foreign company, was incorporated on April 22, 2022. The company's main objective was to provide information technology and software-related services. Due to the non-availability of business prospects and the potential for incurring huge losses, the Board of Directors decided to wind up the Corporate Person. A special resolution was passed on February 28, 2024, to liquidate the Corporate Person by way of voluntary liquidation, and Rajendran P.R. was appointed as the liquidator. The liquidator made a public announcement inviting claims from stakeholders. The last date for filing claims was March 29, 2024. The only asset of the Corporate Person was a cash balance of Rs.3,66,521.92 and an Income Tax
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M/s. Aqui Soft…
Shareholders passed a special resolution to…
The case pertains to a Company Petition filed under Section 59(7) of the Insolvency & Bankruptcy Code, 2016, regarding the voluntary liquidation of M/s. Aqui Software Lab Private Limited. The corporate person, a wholly-owned subsidiary of a foreign company, sought voluntary liquidation due to the non-viability of operating in India without incurring significant losses. The Board of Directors declared under Section 59(3) of the IBC that the corporate person was not being liquidated to defraud anyone and had made a full inquiry into its affairs.
M/s. Aqui Software Lab Private Limited, a wholly-owned subsidiary of a foreign company, was incorporated on April 22, 2022. The company's main objective was to provide information technology and software-related services. Due to the non-availability of business prospects and the potential for incurring huge losses, the Board of Directors decided to wind up the Corporate Person. A special resolution was passed on February 28, 2024, to liquidate the Corporate Person by way of voluntary liquidation, and Rajendran P.R. was appointed as the liquidator. The liquidator made a public announcement inviting claims from stakeholders. The last date for filing claims was March 29, 2024. The only asset of the Corporate Person was a cash balance of Rs.3,66,521.92 and an Income Tax
…M/s. Aqui Soft…
Shareholders passed a special resolution to…