The case pertains to a Company Petition filed by the Liquidator of M/s. Colourful Eco Park Limited, seeking dissolution of the company under Section 59(7) of the Insolvency and Bankruptcy Code, 2016 (IBC). The company was unable to commence its projects due to changes in Government policies and other reasons, leading to a Board meeting on 30.06.2020 to consider winding up and voluntary liquidation. An Extraordinary General Body Meeting was held on 08.07.2020, where it was resolved to appoint the Applicant as liquidator.
M/s. Colourful Eco Park Limited was incorporated on 08.08.2012 under the Companies Act, 1956, with the objective of developing integrated textile parks. Due to changes in Government policies and other reasons, the company was unable to commence its projects. A Board meeting was held on 30.06.2020 to consider winding up and voluntary liquidation. An Extraordinary General Meeting of the Shareholders took place on 08.07.2020, where it was unanimously resolved to appoint the Applicant as a liquidator. The liquidator conducted the voluntary liquidation process in accordance with the IBBI (Voluntary Liquidation Process) Regulations, 2017. The liquidation cost was Rs.4,77,632/-, and a sum of Rs.1,62,08,598/- was paid to the Equity Shareholders. The liquidator has not received
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The Applicant Company…
A Board meeting was held…
The case pertains to a Company Petition filed by the Liquidator of M/s. Colourful Eco Park Limited, seeking dissolution of the company under Section 59(7) of the Insolvency and Bankruptcy Code, 2016 (IBC). The company was unable to commence its projects due to changes in Government policies and other reasons, leading to a Board meeting on 30.06.2020 to consider winding up and voluntary liquidation. An Extraordinary General Body Meeting was held on 08.07.2020, where it was resolved to appoint the Applicant as liquidator.
M/s. Colourful Eco Park Limited was incorporated on 08.08.2012 under the Companies Act, 1956, with the objective of developing integrated textile parks. Due to changes in Government policies and other reasons, the company was unable to commence its projects. A Board meeting was held on 30.06.2020 to consider winding up and voluntary liquidation. An Extraordinary General Meeting of the Shareholders took place on 08.07.2020, where it was unanimously resolved to appoint the Applicant as a liquidator. The liquidator conducted the voluntary liquidation process in accordance with the IBBI (Voluntary Liquidation Process) Regulations, 2017. The liquidation cost was Rs.4,77,632/-, and a sum of Rs.1,62,08,598/- was paid to the Equity Shareholders. The liquidator has not received
…The Applicant Company…
A Board meeting was held…