The case pertains to a company petition filed by the liquidator of M/s. Vriksha Realty Private Limited, seeking dissolution of the company under Section 59(7) of the Insolvency and Bankruptcy Code, 2016 (IBC). The company was incorporated on 08.11.2005 and passed a resolution for voluntary liquidation on 25.08.2021 due to non-availability of business projects and long-term financial resources. The shareholders approved the appointment of the liquidator on 25.08.2021.
Vriksha Realty Private Limited, incorporated on 08.11.2005, sought voluntary liquidation under Section 59 of the IBC due to a lack of business projects and financial resources. The company's authorized capital was Rs. 1,00,000. The Board of Directors passed a resolution for voluntary liquidation on 25.08.2021, which was approved by the shareholders in an extra-ordinary general meeting held on the same date. The company had no creditors and its assets consisted of a bank balance and a refund due from the Income Tax Department. The liquidator, R. Bhuvana, conducted the voluntary liquidation process in accordance with IBBI regulations. A public announcement was made in newspapers on 27.08.2021. The liquidator distributed funds to shareholders after covering liquidation
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Vriksha Realty Private…
The Board of Directors passed a resolution for…
The case pertains to a company petition filed by the liquidator of M/s. Vriksha Realty Private Limited, seeking dissolution of the company under Section 59(7) of the Insolvency and Bankruptcy Code, 2016 (IBC). The company was incorporated on 08.11.2005 and passed a resolution for voluntary liquidation on 25.08.2021 due to non-availability of business projects and long-term financial resources. The shareholders approved the appointment of the liquidator on 25.08.2021.
Vriksha Realty Private Limited, incorporated on 08.11.2005, sought voluntary liquidation under Section 59 of the IBC due to a lack of business projects and financial resources. The company's authorized capital was Rs. 1,00,000. The Board of Directors passed a resolution for voluntary liquidation on 25.08.2021, which was approved by the shareholders in an extra-ordinary general meeting held on the same date. The company had no creditors and its assets consisted of a bank balance and a refund due from the Income Tax Department. The liquidator, R. Bhuvana, conducted the voluntary liquidation process in accordance with IBBI regulations. A public announcement was made in newspapers on 27.08.2021. The liquidator distributed funds to shareholders after covering liquidation
…Vriksha Realty Private…
The Board of Directors passed a resolution for…