The case pertains to the voluntary liquidation of Velocloud Networks Private Limited under Section 59(7) of the Insolvency and Bankruptcy Code, 2016. The company was incorporated on 26.08.2013 and was later acquired by the VMWare group in 2017, after which it phased out its business activities. The company proposed to wind up its affairs under the Members' Voluntary Liquidation process. The liquidator, Mr. Vasudevan Gopu, filed a company petition seeking dissolution of the company.
Velocloud Networks Private Limited was incorporated on 26.08.2013. The company's CIN is U72900TN2013PTC092679. On 12.12.2017, the Velocloud group of companies was acquired by VMWare. Consequently, the company phased out its business activities and moved its employees to the VMware group. The company had two directors and two shareholders. The authorized and issued capital was INR 1,00,000. The company proposed to wind up its affairs under the Members' Voluntary Liquidation process. As of 28.02.2022, the company had liabilities of Rs. 29,500 and assets of Rs. 5,12,51,776. The debt of Rs. 29,500 was settled on 07.05.2022. The members convened an Extraordinary General Meeting on 12.05.2022 and passed a Special Resolution approving the Voluntary Liquidation. Mr. Vasudevan
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Velocloud Networks…
The Velocloud group of…
The case pertains to the voluntary liquidation of Velocloud Networks Private Limited under Section 59(7) of the Insolvency and Bankruptcy Code, 2016. The company was incorporated on 26.08.2013 and was later acquired by the VMWare group in 2017, after which it phased out its business activities. The company proposed to wind up its affairs under the Members' Voluntary Liquidation process. The liquidator, Mr. Vasudevan Gopu, filed a company petition seeking dissolution of the company.
Velocloud Networks Private Limited was incorporated on 26.08.2013. The company's CIN is U72900TN2013PTC092679. On 12.12.2017, the Velocloud group of companies was acquired by VMWare. Consequently, the company phased out its business activities and moved its employees to the VMware group. The company had two directors and two shareholders. The authorized and issued capital was INR 1,00,000. The company proposed to wind up its affairs under the Members' Voluntary Liquidation process. As of 28.02.2022, the company had liabilities of Rs. 29,500 and assets of Rs. 5,12,51,776. The debt of Rs. 29,500 was settled on 07.05.2022. The members convened an Extraordinary General Meeting on 12.05.2022 and passed a Special Resolution approving the Voluntary Liquidation. Mr. Vasudevan
…Velocloud Networks…
The Velocloud group of…