The petition was filed by the Petitioner under Rule 40 (2) of the IBBI (Voluntary Liquidation Process) Regulations 2017 read with Section 59 and Section 60 (5) of the IBC, seeking to allow the application and pass an order for the cessation/suspension of the liquidation process of M/s.Medreich Life Care Limited. The shareholders unanimously approved the initiation of the valuation proceedings under Section 59 of the IBC 2016 in respect of the Company in an Extra Ordinary General Meeting held on 13.12.2023. The petitioner seeks to suspend the liquidation proceedings.
Medreich Life Care Limited initiated voluntary liquidation proceedings under Section 59 of the IBC 2016. An Extra Ordinary General Meeting was held on 13.12.2023, where shareholders approved the initiation of valuation proceedings. The assets of the corporate person were deemed insufficient to cover liabilities. A special resolution for voluntary liquidation had already been passed. The petitioner sought the Tribunal's leave to suspend the liquidation proceedings, as the resolution could not be withdrawn without it. The petition was filed under Rule 40 (2) of the IBBI (Voluntary Liquidation Process) Regulations 2017 read with Section 59 and Section 60 (5) of the IBC.
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Shareholders unanimously approved the…
Order delivered on…
The petition was filed by the Petitioner under Rule 40 (2) of the IBBI (Voluntary Liquidation Process) Regulations 2017 read with Section 59 and Section 60 (5) of the IBC, seeking to allow the application and pass an order for the cessation/suspension of the liquidation process of M/s.Medreich Life Care Limited. The shareholders unanimously approved the initiation of the valuation proceedings under Section 59 of the IBC 2016 in respect of the Company in an Extra Ordinary General Meeting held on 13.12.2023. The petitioner seeks to suspend the liquidation proceedings.
Medreich Life Care Limited initiated voluntary liquidation proceedings under Section 59 of the IBC 2016. An Extra Ordinary General Meeting was held on 13.12.2023, where shareholders approved the initiation of valuation proceedings. The assets of the corporate person were deemed insufficient to cover liabilities. A special resolution for voluntary liquidation had already been passed. The petitioner sought the Tribunal's leave to suspend the liquidation proceedings, as the resolution could not be withdrawn without it. The petition was filed under Rule 40 (2) of the IBBI (Voluntary Liquidation Process) Regulations 2017 read with Section 59 and Section 60 (5) of the IBC.
Shareholders unanimously approved the…
Order delivered on…