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Judgment
4 paragraphs · 103 words
ORDER
Heard Shri A Haresh, learned IRP.
The learned IRP submits that the only property/cash available with the Corporate Debtor is Rs.25 Lakhs, whereas, the liabilities to Income Tax, Employees Provident Funds, ESI, Service Tax, Central Sales Tax, VAT, Labour Welfare fund, Professional Tax, the fees of the IRP and Income Tax legislations amounting come to Rs.2.03 Crores, which is more than the asset/cash available. Therefore, the above figure shows that there is nothing remains for liquidation. Therefore, the IRP is directed to file an Application for dissolution of the Company straight away.
Post the case on 10.12.2019 under the caption “for orders”.