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The Company was incorporated as a Private Limited Company under the provisions of the Companies Act, 1956, on 15.12.1987, bearing CIN U24231GJ1987PTC010193 having Registered Office at N H No. 8, Village Khokhra Valsad Gujarat- 396001.

The Directors of the Corporate person are as follows:

The Shareholders of the Corporate Person are as follows:

The Authorized Share capital & Paid up Share Capital of the Company are Rs. 5,00,000/- (Rupees Five lacs Only). The Corporate Person is carrying out business of Manufacturing of non-pareil seeds. However, there has been no business operation in the Corporate Person for more than last 10 years except some income from other sources there was no revenue from business operations for many years.

The Board of Directors considering the financial position of the Company formed an opinion that the affairs of the Company should be wound up. The Directors have made a declaration of solvency by an affidavit. The record of business operations i.e. Annual Returns, Documents, reports etc. were prepared under Section 134 and the Audited Financial statements for financial year ended 31^st March, 2020 and also the Audited Financial statement for the period from 1^st April, 2020 to 31^st March, 2021 alongwith Statement of assets at estimated realizable values and liabilities expected to rank as at 30^th April, 2021 have been approved by the Board of Directors. The Board of Directors in their meeting held on 10th May, 2021 passed a proposal to liquidate the Company Voluntarily under the provisions of the IBC, 2016.

The Declaration by all the existing Directors alongwith audited financial statements and record of business operations of the Company for the previous two years were filed with Registrar of Companies, Gujarat in Form no. GNL-2 on 13^th May, 2021 vide SRN T18727263.

The Board of Directors in their Extraordinary General Meeting held on 25^th May, 2021 passed a Special Resolution required under Section 59 of the Code r.w IBBI (Voluntary Liquidation Process) Regulation, 2017 (Regulations) to liquidate the Company Voluntarily and appointed Mr. Hemanshu L. Kapadia, as Insolvency Professional, having IP registration No. IBBI/IPA-002/IP-N00318/2017-18/10923 to act as Liquidator of the Company. The Board of Directors has filed Declaration of Solvency stating that there are NIL operational creditors and financial creditors in the Company. (annexed with the application at page no. 54).

The Liquidator made a public announcement of commencement of liquidation in Form A of Schedule I as per Regulation 14 of Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017 in English, “Economics Times” and in Gujarati, “Gujarat Mitra” dated 27^th May, 2021, to call upon the stakeholders to submit their claims within 30 days from the date of commencement of liquidation i.e. 24^th June, 2021. The Public announcement was also submitted to the IBBI.

The commencement of liquidation and appointment of liquidator were submitted to the ROC, Gujarat in Form MGT-14 on 1^st June, 2021 vide SRN : T20915096 and Form GNL-2 on 1^st June, 2021 vide SRN: T20915005 respectively.

As required under Regulation 9 of the Regulations, the liquidator had submitted Preliminary Report dated 5^th July, 2021. A copy of Preliminary report is attached with the application at page no. 119-122).

As per provisions of Section 178 of the Income Tax Act, 1961, the liquidator intimated the commencement of liquidation and appointment of Liquidator to the Income Tax Authority vide letter dated 25^th May, 2021 and the same was acknowledged by Income Tax on 28^th May,2021. Pursuant to this, the Income Tax Authority issued No Objection Certificate on 6^th August, 2021.

The audited statement of accounts of liquidation showing receipt and payment pertaining to liquidation period signed by the Liquidator and Auditor of the Company on 24^th February, 2022.

A final report submitted by the Liquidator on 5^th March, 2022 under Regulation 38 of the Regulation, showing receipt and payment pertaining to liquidation and other details required under such regulation are as under:

There were no fixed assets on the date of commencement of voluntary liquidation. Hence there was no question of disposing of them.

There were no Creditors of the Corporate person as on the commencement of voluntary liquidation. Hence there is no question of discharging them to the satisfaction of Creditor and

No litigation is pending against the corporate person as on date of Report.

The Liquidator had opened a bank account in Axis Bank bearing account no. 920020068716761 in the name of “Dastoor Medichem Private Limited in Voluntary Liquidation”. The same account has been closed on 18.02.2022 and closure certificate has been issued by the concerned bank.

The Company had created charge on 6^th June, 1988 and registered with ROC vide charge no. 90111976. The Company settled its dues in the cash credit facility in full alongwith interest and was in process of uploading the form CHG 4 on MCA portal, since the present status of Company on MCA portal in “under liquidation” the system does not allow to file the said form CHG-4. A letter was submitted to the ROC, Gujarat.

As per the directions issued by this Tribunal vide daily order dated 18.08.2023, the Applicant has to attached Form–H (compliance certificate) under Regulation 38(3) of the IBBI Regulations, 2016 & copy of paper publication filed with IBBI.

M/s. Dastoor Medichem Private Limited CIN No. U24231GJ987PTC010193, the Applicant Company shall stand dissolved from the date of this order.

The Liquidator is directed to file this order with the concerned Registrar of Companies, Income Tax Department and IBBI within 14 days from the date of receipt of an authentic copy this order, for information and necessary action.

The Liquidator is also directed to file this order with all other Statutory Authorities connected with the affairs of the Company.

The Liquidator shall preserve a physical or an electronic copy of the reports, registers and books of account referred to in Regulations 8 and 10 of IBBI Regulations for at least eight years after the dissolution of the Corporate Person, either with himself or with an information utility.

Accordingly, CP(IB) 110(AHM)/2022 is allowed and stands disposed of.