The case pertains to a company petition filed under Section 59 of the Insolvency and Bankruptcy Code, 2016, seeking dissolution of M/s Thomson Video Networks India Private Limited following voluntary liquidation. The company initiated voluntary liquidation due to economic circumstances, resolving to distribute assets proportionally among shareholders. The corporate debtor complied with the necessary liquidation procedures as per law.
M/s Thomson Video Networks India Private Limited initiated voluntary liquidation due to adverse economic conditions. The Board of Directors resolved to liquidate on 07.08.2023. The company appointed CS Suman Kumar as liquidator, who made public announcements and submitted reports to regulatory bodies. The company had no creditors, and its GST registration was cancelled. Prior to liquidation, the company had an account with HDFC Bank with Rs. 1,52,46,020.95, which was closed and transferred to a new account in Standard Chartered Bank under the name "M/s Thomson Video Networks India Private Limited-In Liquidation Account", which was subsequently closed on 02.07.2024. The liquidator submitted a final report on 13.08.2024, stating no fixed assets were available
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The case pertains to a company petition filed under Section 59 of the Insolvency and Bankruptcy Code, 2016, seeking dissolution of M/s Thomson Video Networks India Private Limited following voluntary liquidation. The company initiated voluntary liquidation due to economic circumstances, resolving to distribute assets proportionally among shareholders. The corporate debtor complied with the necessary liquidation procedures as per law.
M/s Thomson Video Networks India Private Limited initiated voluntary liquidation due to adverse economic conditions. The Board of Directors resolved to liquidate on 07.08.2023. The company appointed CS Suman Kumar as liquidator, who made public announcements and submitted reports to regulatory bodies. The company had no creditors, and its GST registration was cancelled. Prior to liquidation, the company had an account with HDFC Bank with Rs. 1,52,46,020.95, which was closed and transferred to a new account in Standard Chartered Bank under the name "M/s Thomson Video Networks India Private Limited-In Liquidation Account", which was subsequently closed on 02.07.2024. The liquidator submitted a final report on 13.08.2024, stating no fixed assets were available
…Board of Directors…
Members passed a special resolution to…
Sign in to view related legal provisions.