The case pertains to a Company Petition (CP(IB) No. 402/59/HDB/2022) filed under Section 59 of the Insolvency and Bankruptcy Code, 2016, read with the IBBI (Voluntary Liquidation) Regulations, 2017, for the voluntary liquidation of Lithius Energy Private Limited. The company, incorporated on 05.03.2018, sought to dissolve itself due to not carrying on any business as listed in its Memorandum of Association for the past two years and lacking sufficient financial resources. The Board of Directors had approved a Declaration of Solvency and passed a resolution for voluntary liquidation. The liquidator, Ms. Srilakshmi Purushotham, was appointed to oversee the liquidation process.
Lithius Energy Private Limited, incorporated on 05.03.2018, filed a Company Petition (CP(IB) No. 402/59/HDB/2022) for voluntary liquidation under Section 59 of the Insolvency and Bankruptcy Code, 2016. The company's primary objective was engineering development, including establishing engineering development centers for designing products used in automatic test equipment for semiconductor chips. However, the company had not been conducting any business as outlined in its Memorandum of Association for the past two years and lacked sufficient financial resources. The Board of Directors approved a Declaration of Solvency on 05.08.2021 and passed a resolution for voluntary liquidation. Ms. Srilakshmi Purushotham was appointed as the liquidator. A special resolution was
…Sign in to view the parties.
Lithius Energy Private Limited was…
The Board of Directors approved the Declaration…
The case pertains to a Company Petition (CP(IB) No. 402/59/HDB/2022) filed under Section 59 of the Insolvency and Bankruptcy Code, 2016, read with the IBBI (Voluntary Liquidation) Regulations, 2017, for the voluntary liquidation of Lithius Energy Private Limited. The company, incorporated on 05.03.2018, sought to dissolve itself due to not carrying on any business as listed in its Memorandum of Association for the past two years and lacking sufficient financial resources. The Board of Directors had approved a Declaration of Solvency and passed a resolution for voluntary liquidation. The liquidator, Ms. Srilakshmi Purushotham, was appointed to oversee the liquidation process.
Lithius Energy Private Limited, incorporated on 05.03.2018, filed a Company Petition (CP(IB) No. 402/59/HDB/2022) for voluntary liquidation under Section 59 of the Insolvency and Bankruptcy Code, 2016. The company's primary objective was engineering development, including establishing engineering development centers for designing products used in automatic test equipment for semiconductor chips. However, the company had not been conducting any business as outlined in its Memorandum of Association for the past two years and lacked sufficient financial resources. The Board of Directors approved a Declaration of Solvency on 05.08.2021 and passed a resolution for voluntary liquidation. Ms. Srilakshmi Purushotham was appointed as the liquidator. A special resolution was
…Lithius Energy Private Limited was…
The Board of Directors approved the Declaration…