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PRESENT:
For the Applicant
:
For the Respondent
:
ORDER
The case is fixed for pronouncement of the order. The order is pronounced in
open court vide separate sheet.
-SD-
-SD-
KAUSHALENDRA KUMAR SINGH
MADAN B GOSAVI
MEMBER (TECHNICAL)
MEMBER (JUDICIAL)
IN THE NATIONAL COMPANY LAW TRIBUNAL
AHMEDABAD
DIVISION BENCH
COURT - 1
ITEM No.93
C.P.(IB)/15(AHM)2022
Proceedings under Section 59 r.w 38 IBC
IN THE MATTER OF:
Reine Chemicals Pvt Ltd
........Applicant
Order delivered on ..13/07/2022
Coram:
Madan B. Gosavi, Hon’ble Member(J)
Kaushalendra Kumar Singh, Hon’ble Member(T)
C.P. (I.B.) No.15/NCLT/AHM/2022
2
BEFORE THE ADJUDICATING AUTHORITY
(NATIONAL COMPANY LAW TRIBUNAL)
AHMEDABAD BENCH
Court No. I
C.P. (I.B.) No.15/NCLT/AHM/2022
(An application under section 59(7) of the Insolvency and Bankruptcy
Code, 2016)
Through:
Prashant Patel
A liquidator of M/s Reine Chemicals Private Limited
Having an address at;
51, Hariom Villa, Nr. Iscon Flower Flats,
Bopal Ghuma Road,
Ahmedabad-380058
……..Applicant
In the matter of:
M/s Reine Chemicals Private Limited
CIN No. U24110GJ1991PTC015837
A company incorporated under the
Companies Act, 1956. Having it's registered
Office at: 517/518, Dalal Street, Gandevi,
Bilimora, Navsari, Gujarat – 396 360
..... Corporate Person
Order delivered on. 13.07.2022
Coram:
Madan B. Gosavi, Member (Judicial)
Kaushalendra Kumar Singh Member (Technical)
Appearance:
For the Applicant: Mr. Prashant B Patel, Ld. Advocate.
C.P. (I.B.) No.15/NCLT/AHM/2022
3
ORDER
1.
The instant company application is filed by Mr. Prasant Patel
Liquidator of M/s. Reine Chemicals Private Limited (Corporate
Person) under Section 59(7) of the Insolvency and Bankruptcy Code,
2016 (“IB Code”) r.w. Regulation 38 (3) of the Insolvency and
Bankruptcy
Board
of
India
(Voluntary
Liquidation
Process)
Regulations, 2017 (hereinafter referred to as “VLP Regulations”) for
dissolution of the Corporate Person.
2.
The averments made by the applicant are summarised as
under;
(i)
The authorized share capital of the Corporate Person is
Rs. 30,00,000/- divided into 3,00,000 equity shares of Rs. 10/-
each. The paid-up share capital of the Corporate Person is Rs.
30,00,000/- divided into 3,00,000 equity shares of Rs. 10/-
each. There are two directors in the Corporate Person: (a)
Brijkumar Kantilal Shah (DIN: 01983549), and (b) Priti
Brijkumar Shah (DIN: 08744021).
(ii)
The Board of Directors of the Corporate Person in its
meeting dated 17.12.2020 passed a proposal to liquidate the
Corporate Person. Thereafter, both the directors of the Corporate
Person made a declaration by way of affidavit wherein the
Directors have stated that they had made a full inquiry into
affairs of the Corporate Person and that has been done so, they
have formed an opinion that the Corporate Person will pay its
debts/claims in full from the proceeds of assets to be sold in the
liquidation. They further stated in their affidavit that the
Corporate Person is not being liquidated to defraud any person.
A copy of the declaration along with the relevant documents as
required under section 59 (3) of the IB Code was filed with the
C.P. (I.B.) No.15/NCLT/AHM/2022
4
Registrar of the Companies (“RoC”), Gujarat in Form No. GNL-2
on 07.01.2021.
(iii)
The Board of Directors of the Corporate Person passed a
special resolution in Extra-Ordinary General Meeting (“EOGM”)
on 01.01.2021 to voluntarily liquidate the Corporate Person and
further
resolved
to
appoint
Mr.
Prashant
Patel
having
Registration No. IBBI/IPA-002/IP-N00827/2019-20/12627 an
Insolvency Professional a liquidator to liquidate the Corporate
Person.
(iv)
The Applicant made a public announcement under
Regulation - 14 of VLP Regulat
