The case pertains to a Company Petition (IB/162/2023) filed under Section 59(7) of the Insolvency and Bankruptcy Code, 2016, seeking voluntary dissolution of Neuheit Pharma Private Limited. The company was incorporated in 2015 and its main object was trading of Pharmaceutical Products. Due to lack of significant business operations or prospects, the Board of Directors proposed voluntary liquidation. The directors executed a declaration as required under Section 59(3) of the IBC. The liquidator, Mr. Bathina Venka Reddy, was appointed after a special resolution was passed by the shareholders.
Neuheit Pharma Private Limited, incorporated on March 16, 2015, sought voluntary liquidation due to a lack of significant business prospects. The company's authorized share capital was Rs. 24,10,00,000, divided into equity shares of Rs. 10 each, with an issued and paid-up capital of Rs. 23,10,45,850. The Board of Directors approved the voluntary liquidation proposal on February 5, 2021. A special resolution for voluntary liquidation was passed on March 4, 2021, and Mr. Bathina Venka Reddy was appointed as the liquidator. Public announcements were made, and statutory authorities were informed. The company had financial assets, including cash at bank (Rs. 10,04,331), fixed deposits with the bank (Rs. 28,46,47,886), unsecured loans and advances (Rs. 2,00,00,000), and
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The case pertains to a Company Petition (IB/162/2023) filed under Section 59(7) of the Insolvency and Bankruptcy Code, 2016, seeking voluntary dissolution of Neuheit Pharma Private Limited. The company was incorporated in 2015 and its main object was trading of Pharmaceutical Products. Due to lack of significant business operations or prospects, the Board of Directors proposed voluntary liquidation. The directors executed a declaration as required under Section 59(3) of the IBC. The liquidator, Mr. Bathina Venka Reddy, was appointed after a special resolution was passed by the shareholders.
Neuheit Pharma Private Limited, incorporated on March 16, 2015, sought voluntary liquidation due to a lack of significant business prospects. The company's authorized share capital was Rs. 24,10,00,000, divided into equity shares of Rs. 10 each, with an issued and paid-up capital of Rs. 23,10,45,850. The Board of Directors approved the voluntary liquidation proposal on February 5, 2021. A special resolution for voluntary liquidation was passed on March 4, 2021, and Mr. Bathina Venka Reddy was appointed as the liquidator. Public announcements were made, and statutory authorities were informed. The company had financial assets, including cash at bank (Rs. 10,04,331), fixed deposits with the bank (Rs. 28,46,47,886), unsecured loans and advances (Rs. 2,00,00,000), and
…Neuheit Pharma Private…
The Board of Directors…
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