IN RE Vs. ULTRA DRYTECH ENGINEERING LTD

JUDGEMENT

(1.) This Company Petition is filed by M/s. Ultra Drytech Engineering Limited, u/s. 10 of I & B Code 2016 r/w. Rule 7 of Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules 2016 for initiation of Corporate Insolvency Resolution process.

(2.) The Corporate Debtor says that its registered office is at 502, 5th floor, Citi point, Rajarshi Shahu Maharaj Road, Andheri (E), Mumbai-400 069, incorporated on 10-09-1986 vide Registration No. 11-40875 of 1994 on the file of Registrar of Companies Maharashtra, having paid-up share capital of Rs. 4,12,50,000 crores.

(3.) The Board of Directors of the Corporate Debtor in their meeting held on 12-12-2016 authorised Mr. Rajive Prasad to file necessary application under I & B Code 2016. The Corporate debtor has named Mr. Lalit Laxminarayan Bajaj (Reg. No. IBBI/IPA-001/IP-00159/2016-17/1237). Email ID lalit@llbco.in, 525, The Summit Business Bay, Behind Guru Nanak Petrol Pump, Near W.E. Highway, Andheri (E), Mumbai-400 069, as interim resolution professional, who has given his consent with a declaration that no disciplinary proceedings are pending against him vide his letter annexed at page No. 69 of the petition.