The case pertains to a Company Petition filed under Section 59(7) of the Insolvency and Bankruptcy Code, 2016, seeking the dissolution of Entco Music Private Limited following a voluntary liquidation process. The company faced financial difficulties due to the pandemic and decided to voluntarily wind up its operations after selling its assets. The liquidator, Mr. Sunil Gajanan Nanal, initiated the liquidation process, made public announcements, and addressed various government authorities. The company's affairs were completely wound up, and its assets were liquidated.
Entco Music Private Limited, incorporated on 24.04.2019, faced financial difficulties due to the pandemic and decided to voluntarily liquidate. The company's authorized and paid-up share capital was ₹1,00,000. Majority of the assets were sold to Canvas Talent Pvt. Ltd in December 2021. Mr. Sunil Gajanan Nanal was appointed as the liquidator. The liquidator made public announcements and informed relevant authorities about the liquidation process. The company had receivables from Income Tax, part of which was received. After paying liquidation costs, the surplus was distributed to shareholders, Believe International SARL and Believe Digital Pvt. Ltd. The liquidator submitted preliminary and final reports. The tribunal sought confirmation from RoC Mumbai regarding any
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The case pertains to a Company Petition filed under Section 59(7) of the Insolvency and Bankruptcy Code, 2016, seeking the dissolution of Entco Music Private Limited following a voluntary liquidation process. The company faced financial difficulties due to the pandemic and decided to voluntarily wind up its operations after selling its assets. The liquidator, Mr. Sunil Gajanan Nanal, initiated the liquidation process, made public announcements, and addressed various government authorities. The company's affairs were completely wound up, and its assets were liquidated.
Entco Music Private Limited, incorporated on 24.04.2019, faced financial difficulties due to the pandemic and decided to voluntarily liquidate. The company's authorized and paid-up share capital was ₹1,00,000. Majority of the assets were sold to Canvas Talent Pvt. Ltd in December 2021. Mr. Sunil Gajanan Nanal was appointed as the liquidator. The liquidator made public announcements and informed relevant authorities about the liquidation process. The company had receivables from Income Tax, part of which was received. After paying liquidation costs, the surplus was distributed to shareholders, Believe International SARL and Believe Digital Pvt. Ltd. The liquidator submitted preliminary and final reports. The tribunal sought confirmation from RoC Mumbai regarding any
…Entco Music Private…
Majority of the assets…
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