The case involves a Company Petition filed by the Liquidator in relation to the voluntary liquidation of M/s. SAF-Holland India Private Limited. The company was incorporated on 07.05.2013 and its main object was to carry on the business of manufacturing, assembling, engineering, marketing, importing, exporting, distribution and domestic sales and servicing of mechanical and air suspensions, axles, brakes, wheel ends and system integrating various combinations of these products. Due to the business no longer being viable, the management decided to close down the business operations. A Board meeting was held on 22.06.2021 to consider winding up and voluntary liquidation of the Company as per Section 59 of the Insolvency and Bankruptcy Code, 2016, where a resolution was
…SAF-Holland India Private Limited underwent voluntary liquidation due to the business no longer being viable. A Board meeting was held on 2021-06-22 to consider winding up the company. An Extraordinary General Body Meeting was held on 2021-06-28, where it was resolved to appoint a liquidator. The liquidator conducted the voluntary liquidation process according to IBBI regulations. All liabilities were paid off, and the remaining amount was disbursed to shareholders, primarily SAF Holland Inc USA, holding 99.99% of the shares. The liquidator distributed funds according to Section 53(1) of the IBC, 2016. The company sought dissolution under Section 59(7) of the Insolvency and Bankruptcy Code, 2016. The distribution of funds included payments for liquidation costs,
…Sign in to view the parties.
SAF-Holland India…
A Board meeting was held…
Sign in to view related legal provisions.
The case involves a Company Petition filed by the Liquidator in relation to the voluntary liquidation of M/s. SAF-Holland India Private Limited. The company was incorporated on 07.05.2013 and its main object was to carry on the business of manufacturing, assembling, engineering, marketing, importing, exporting, distribution and domestic sales and servicing of mechanical and air suspensions, axles, brakes, wheel ends and system integrating various combinations of these products. Due to the business no longer being viable, the management decided to close down the business operations. A Board meeting was held on 22.06.2021 to consider winding up and voluntary liquidation of the Company as per Section 59 of the Insolvency and Bankruptcy Code, 2016, where a resolution was
…SAF-Holland India Private Limited underwent voluntary liquidation due to the business no longer being viable. A Board meeting was held on 2021-06-22 to consider winding up the company. An Extraordinary General Body Meeting was held on 2021-06-28, where it was resolved to appoint a liquidator. The liquidator conducted the voluntary liquidation process according to IBBI regulations. All liabilities were paid off, and the remaining amount was disbursed to shareholders, primarily SAF Holland Inc USA, holding 99.99% of the shares. The liquidator distributed funds according to Section 53(1) of the IBC, 2016. The company sought dissolution under Section 59(7) of the Insolvency and Bankruptcy Code, 2016. The distribution of funds included payments for liquidation costs,
…SAF-Holland India…
A Board meeting was held…
Sign in to view related legal provisions.