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Judgment
The present Application has been filed by Mr. Jitendra Gordhandas Unadkat, Liquidator of Agni Alpha Global Private Limited under Section 59(7) of the Insolvency & Bankruptcy Code, 2016 (“IBC” or “the Code”) r/w Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017, (“Voluntary Liquidation Regulations”) seeking dissolution of the Company.
The Applicant Company was incorporated on 16.09.2021 with CIN: U67190GJ2021PTC125665 having registered office at 1105, Alfa Plus, Opp. GSPC Gas, Near Rajya Telephone Exchange, Rajkot, Gujarat under the provisions of the Companies Act, 2013 with the Registrar of Companies, Gujarat. The main objects of the company are mentioned in the Memorandum of Association. The Authorized Share capital of the Company is Rs. 15,00,00,000/- and paid up share capital of the Company is Rs. 96,574,050/-
The Corporate Person is not carrying any business from the preceding last one year and not having any profit. On the basis of business operations records, annual returns and the Board of Directors have made declaration of solvency. In the meeting held on 5th April, 2023, the Board of Directors passed a resolution to liquidator the Company. The Copy of the GNL-2 has already been filed with the Registrar of Companies, Gujarat (SRN:AA2837812).
The Members of Company in their Extra Ordinary General Meeting held on 25.04.2023 passed a Resolution to liquidate the Company voluntarily and confirmed the appointment of Liquidator Mr. Jitendra Unadakat and the same is also submitted to Registrar of Companies, Gujarat in Form MGT-14 vide SRN: AA2233317.
The Liquidator made a public announcement of commencement of liquidation in Form -A as per Regulation 14 of Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017 in English language “Indian Express” and in Gujarati language “Sanj Samachar” dated 28.04.2023. The Public announcement was also submitted to the IBBI. The last date for submission claim was 25.05.2023.
The Liquidator opened a bank account in HDFC Bank bearing account no. 59229727604444 in the name of “ Agni Alpha Global Private Limited in Voluntary liquidation”. The same account has been closed on 08.08.2024 and closure certificate has been issued by the concerned bank.
As per provisions of Section 178 of the Income Tax Act, 1961 the liquidator has sent intimation of the voluntary liquidation of the Corporate person.
In terms of Regulation 30 of the IBBI (Voluntary Liquidation) Regulations, 2017, the Liquidator prepared a list of stakeholders dated 27.05.2023. The Liquidator had distributed the assets and liabilities of the Corporate Person.
In terms of Regulation 9 of Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017, Liquidator has submitted its preliminary report on 03.05.2023.
The Liquidator has submitted a final report dated 14.08.2024 under Regulation 38 of the Regulation, showing receipt and payment pertaining to liquidation and other details required under such regulations. The same has been submitted to Registrar of Companies, Gujarat in e-form GNL-2 vide SRN AA 9843172 and IBBI. Form-H as required under Regulation 38(3) of the IBBI (Voluntary Liquidation Process) Regulation, 2017 has been filed.
Registered Valuer CS Abhishek Chhajed prepared a Valuation report dated 26.04.2023 and liquidator has submitted the same before this Tribunal.
In response to order of this Tribunal, the ROC and Income Tax Department filed their report and during the hearing on 04.04.2025 both have submitted their no objection in the matter.
Heard both the sides. After perusing the documents annexed to the Application, it appears that the affairs of the Company have been completely wound up and the assets of the Applicant Company have been completely liquidated and as such the Applicant Company deserves to be dissolved. Accordingly, in exercise of the powers conferred under Section 59(8) of IBC, 2016, we hereby pass following order :
ORDER
M/s. Agni Alpha Global Private Limited vide CIN No. U67190GJ2021PTC125665 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) 6(AHM)/2024 is allowed and stand disposed of.