Bhuj Tools Co. Private Limited, was incorporated in the state of Gujarat with an authorised and fully paid-up equity share capital was 20,00,000 equity shares of ₹ 10 each, stood at ₹ 2 Crore. The promoters would not wan

CS Professional · Insolvency and Bankruptcy - Law and Practice · PYQS · June 2025
Bhuj Tools Co. Private Limited, was incorporated in the state of Gujarat with an authorised and fully paid-up equity share capital was 20,00,000 equity shares of ₹ 10 each, stood at ₹ 2 Crore. The promoters would not want like to carry on the business anymore and decided to Voluntarily Liquidate the business of the Company. The Company being closely held, the Shareholders of the Company has passed necessary resolution to liquidate the Company and appointed one Parikh as Liquidator. The 20,00,000 equity shares are held by the 4 persons: Tessilis Technology, Italy 15,80,000 P Dave 2,00,000 Shah 2,00,000 Girija Kapadia 20,000 Total number of equity shares of ₹. 10 each fully paid up 20,00,000 The Balance Sheet as on Liquidation commencement date was as follows: Surplus in the Profit & Loss account was ₹ 76,52,277 The Asset side shown as: Bank & Cash ₹ 94,48,300 Short Term Advances ₹ 2,03,977 Total: ₹ 96,52,277 Expenses Paid ₹ ₹ 1. Liquidation Fee 11,62,000 2. Newspaper publications 6,900 3. Prof Fee-FEMA 25,000 4. RoC compliance 11,200 5. GST, Income Tax, Audit etc., 1,77,000 6. Accounting Expenses 17,700 7. NCLT Application Fee 28,000 2,58,900 8. Misc. Expenses 20,500 Total Expenses made 14,48,300 Out of the Assets, Short Term Advances considered not realisable. Based on the above facts and information answer the following questions : Upon receipt of order from National Company Law Tribunal, whether any communication to be made to Registrar, if yes, indicate the form and also brief when the dissolution status of the Company will appear in the MCA portal.

Answer & Explanation:

Rule 161 of the National Company Law Tribunal Rule, 2013 deals with filing of Order of the Tribunal with the Registrar of Companies. It provides that: The certified copy of the order passed by the Tribunal shall be filed by the company in form INC-28 along with fee of Rupees five hundred with the Registrar of Companies within the time specified in the Act or specified by the Tribunal. Where no time limit is prescribed by the Tribunal, such order shall be filed within thirty days from the date of receipt of certified copy of the order. Upon approval of INC-28 by the Registrar the MCA Master data status of the Company will be changed to 'dissolved', which is the final status after Voluntary Liquidation.

Topics: Voluntary Liquidation

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