The case pertains to a Company Petition filed by the Liquidator for the voluntary liquidation of Maharishi Gramin Micro-Finance Private Limited under Section 59(7) of the Insolvency and Bankruptcy Code, 2016 (IBC). The company was incorporated on 22.05.2017 under the Companies Act, 2013, with the objective of providing micro-finance services. The Board of Directors proposed voluntary liquidation on March 5th, 2019, due to the company not carrying on any business or earning profits for the preceding two years. The directors made a declaration of solvency on 25th April, 2019, and the members passed a special resolution on 27.03.2019 to liquidate the company, appointing Mr. N. Asokan as the Liquidator.
Maharishi Gramin Micro-Finance Private Limited was incorporated on 22.05.2017 under the Companies Act, 2013, to provide micro-finance services. The company's authorized share capital was Rs. 6,00,00,000, divided into 60,00,000 equity shares of Rs. 10 each. The issued, subscribed, and paid-up share capital was Rs. 5,69,99,860, consisting of 56,99,986 equity shares. Due to the company not carrying on any business or earning profits for the preceding two years, the Board of Directors proposed voluntary liquidation on March 5th, 2019. A declaration of solvency was made on 25th April, 2019, and a special resolution was passed on 27.03.2019 to liquidate the company, appointing N. Asokan as the Liquidator. The Liquidator made a public announcement of the commencement of
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Maharishi Gramin Micro-Finance Private Limited…
The Board of Directors proposed voluntary…
The case pertains to a Company Petition filed by the Liquidator for the voluntary liquidation of Maharishi Gramin Micro-Finance Private Limited under Section 59(7) of the Insolvency and Bankruptcy Code, 2016 (IBC). The company was incorporated on 22.05.2017 under the Companies Act, 2013, with the objective of providing micro-finance services. The Board of Directors proposed voluntary liquidation on March 5th, 2019, due to the company not carrying on any business or earning profits for the preceding two years. The directors made a declaration of solvency on 25th April, 2019, and the members passed a special resolution on 27.03.2019 to liquidate the company, appointing Mr. N. Asokan as the Liquidator.
Maharishi Gramin Micro-Finance Private Limited was incorporated on 22.05.2017 under the Companies Act, 2013, to provide micro-finance services. The company's authorized share capital was Rs. 6,00,00,000, divided into 60,00,000 equity shares of Rs. 10 each. The issued, subscribed, and paid-up share capital was Rs. 5,69,99,860, consisting of 56,99,986 equity shares. Due to the company not carrying on any business or earning profits for the preceding two years, the Board of Directors proposed voluntary liquidation on March 5th, 2019. A declaration of solvency was made on 25th April, 2019, and a special resolution was passed on 27.03.2019 to liquidate the company, appointing N. Asokan as the Liquidator. The Liquidator made a public announcement of the commencement of
…Maharishi Gramin Micro-Finance Private Limited…
The Board of Directors proposed voluntary…