The case pertains to an application filed under Section 59(7) of the Insolvency and Bankruptcy Code, 2016, for the voluntary liquidation of Systems Technology Group (India) Private Limited. The applicant is the liquidator, Sashikant Shravan Damne. The corporate debtor initiated voluntary liquidation, claiming solvency. The application sought dissolution of the corporate person from the date of the Tribunal's order and other related reliefs.
Systems Technology Group (India) Private Limited initiated voluntary liquidation under Section 59(7) of the Insolvency and Bankruptcy Code, 2016. Sashikant Shravan Damne was appointed as the liquidator. The company claimed to be solvent and sought dissolution. A special resolution was passed by the shareholders on 21.03.2022. The directors, Anup Kanaiyalal Popat and Mona Popat Aggarwal, issued a declaration of solvency dated 14.03.2022. The Corporate Debtor had only one creditor. The liquidator assumed charge on 21.03.2022, and public announcements were made on 24.03.2022. The last date for submission of claims was 20.04.2022. An unaudited balance sheet as of 21 March 2022 showed that the creditor was liable to be paid Rs. 99,96,870. The company was unable to repay
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Special Resolution was…
Declaration of Solvency…
The case pertains to an application filed under Section 59(7) of the Insolvency and Bankruptcy Code, 2016, for the voluntary liquidation of Systems Technology Group (India) Private Limited. The applicant is the liquidator, Sashikant Shravan Damne. The corporate debtor initiated voluntary liquidation, claiming solvency. The application sought dissolution of the corporate person from the date of the Tribunal's order and other related reliefs.
Systems Technology Group (India) Private Limited initiated voluntary liquidation under Section 59(7) of the Insolvency and Bankruptcy Code, 2016. Sashikant Shravan Damne was appointed as the liquidator. The company claimed to be solvent and sought dissolution. A special resolution was passed by the shareholders on 21.03.2022. The directors, Anup Kanaiyalal Popat and Mona Popat Aggarwal, issued a declaration of solvency dated 14.03.2022. The Corporate Debtor had only one creditor. The liquidator assumed charge on 21.03.2022, and public announcements were made on 24.03.2022. The last date for submission of claims was 20.04.2022. An unaudited balance sheet as of 21 March 2022 showed that the creditor was liable to be paid Rs. 99,96,870. The company was unable to repay
…Special Resolution was…
Declaration of Solvency…