The case pertains to the voluntary liquidation of M/s. Lightspeed Advisory Services India Private Limited under Section 59 of the Insolvency and Bankruptcy Code, 2016, read with the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017. The company, incorporated on July 30, 2007, decided to undergo voluntary liquidation due to a lack of significant business operations and prospects. The board of directors proposed the liquidation, and the members passed a special resolution to that effect. Mr. Rajan Das Gupta was appointed as the liquidator.
M/s. Lightspeed Advisory Services India Private Limited, incorporated on 2007-07-30, initiated voluntary liquidation due to a lack of business prospects. The company's authorized share capital was Rs. 3,00,00,000, and its paid-up capital was Rs. 2,55,30,000. The Board of Directors proposed voluntary liquidation, and the members passed a special resolution on 2021-03-23. Mr. Rajan Das Gupta was appointed as the liquidator. A public announcement was made on 2021-03-25, and the liquidator submitted reports to the RoC and IBBI. The company had no physical assets, with assets consisting of bank balances amounting to Rs. 2,31,80,386. The liquidator faced challenges in remitting funds to a foreign shareholder, LVP Management Inc., USA, due to RBI regulations. After obtaining
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M/s. Lightspeed…
The Board of Directors noted that the Company…
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The case pertains to the voluntary liquidation of M/s. Lightspeed Advisory Services India Private Limited under Section 59 of the Insolvency and Bankruptcy Code, 2016, read with the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017. The company, incorporated on July 30, 2007, decided to undergo voluntary liquidation due to a lack of significant business operations and prospects. The board of directors proposed the liquidation, and the members passed a special resolution to that effect. Mr. Rajan Das Gupta was appointed as the liquidator.
M/s. Lightspeed Advisory Services India Private Limited, incorporated on 2007-07-30, initiated voluntary liquidation due to a lack of business prospects. The company's authorized share capital was Rs. 3,00,00,000, and its paid-up capital was Rs. 2,55,30,000. The Board of Directors proposed voluntary liquidation, and the members passed a special resolution on 2021-03-23. Mr. Rajan Das Gupta was appointed as the liquidator. A public announcement was made on 2021-03-25, and the liquidator submitted reports to the RoC and IBBI. The company had no physical assets, with assets consisting of bank balances amounting to Rs. 2,31,80,386. The liquidator faced challenges in remitting funds to a foreign shareholder, LVP Management Inc., USA, due to RBI regulations. After obtaining
…M/s. Lightspeed…
The Board of Directors noted that the Company…
Sign in to view related legal provisions.