The case pertains to the voluntary liquidation of M/s. Ashokmithra Capitals Private Limited, initiated under Section 59 of the Insolvency and Bankruptcy Code, 2016. The company, incorporated on 2019-01-11, aimed to operate as a general finance company but could not commence business due to the rejection of its NBFC registration by the RBI. Consequently, the management decided to wind up the company's affairs in April 2022. The shareholders approved the voluntary liquidation in an Extraordinary General Meeting (EGM) on 2022-04-26, initially appointing Mr. S. Vijay Mahindhran as the liquidator. However, due to medical reasons, Mr. Mahindhran resigned on 2023-03-13, and Mr. Vasudevan Gopu was subsequently appointed as the liquidator on 2023-06-19. The company's authorized
…M/s. Ashokmithra Capitals Private Limited, incorporated on 2019-01-11, aimed to operate as a general finance company. The company's application for NBFC registration was rejected by the RBI, leading the management to decide to wind up the company's affairs in April 2022. The authorized and issued paid-up capital was Rs. 2,25,00,000. An EGM on 2022-04-26 approved voluntary liquidation, initially appointing Mr. S. Vijay Mahindhran as liquidator. Due to medical reasons, Mr. Mahindhran resigned on 2023-03-13, and Mr. Vasudevan Gopu was appointed on 2023-06-19. The company's assets included bank balances and other current assets, while liabilities primarily consisted of share capital and reserves. The Tribunal sought clarification on the treatment of Rs. 4,35,309 in other
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M/s. Ashokmithra…
The management decided…
The case pertains to the voluntary liquidation of M/s. Ashokmithra Capitals Private Limited, initiated under Section 59 of the Insolvency and Bankruptcy Code, 2016. The company, incorporated on 2019-01-11, aimed to operate as a general finance company but could not commence business due to the rejection of its NBFC registration by the RBI. Consequently, the management decided to wind up the company's affairs in April 2022. The shareholders approved the voluntary liquidation in an Extraordinary General Meeting (EGM) on 2022-04-26, initially appointing Mr. S. Vijay Mahindhran as the liquidator. However, due to medical reasons, Mr. Mahindhran resigned on 2023-03-13, and Mr. Vasudevan Gopu was subsequently appointed as the liquidator on 2023-06-19. The company's authorized
…M/s. Ashokmithra Capitals Private Limited, incorporated on 2019-01-11, aimed to operate as a general finance company. The company's application for NBFC registration was rejected by the RBI, leading the management to decide to wind up the company's affairs in April 2022. The authorized and issued paid-up capital was Rs. 2,25,00,000. An EGM on 2022-04-26 approved voluntary liquidation, initially appointing Mr. S. Vijay Mahindhran as liquidator. Due to medical reasons, Mr. Mahindhran resigned on 2023-03-13, and Mr. Vasudevan Gopu was appointed on 2023-06-19. The company's assets included bank balances and other current assets, while liabilities primarily consisted of share capital and reserves. The Tribunal sought clarification on the treatment of Rs. 4,35,309 in other
…M/s. Ashokmithra…
The management decided…