In the matter of Guardicore India Private Limited

NAME OF THE PARTIES: Guardicore India Private Limited IN THE MATTER OF Guardicore India Private Limited Section: 59 of Insolvency and Bankruptcy Code, 2016 & Rule 154 (1) of NCLT Rules, 2016 ORDER IA No. 2095/2024:- Adv. Ashwini Gawde and Adv. Nashra Siddiqui i/b ASR & Associates appeared for the Applicant. Heard the submissions of the Counsel for the Applicant at length. IA No. 2095/2024 is allowed and order is passed vide separate order sheet.

Sd/- Sd/- ANIL RAJ CHELLAN KULDIP KUMAR KAREER Member (Technical) Member (Judicial) 02.05.2024 Sushil

IN THE NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH, COURT - II

I.A. No. 2095/2024 IN CP (IB)/477/MB/2023 Application under Rule 154 of the National Company Law Tribunal Rules, 2016 for rectification of errors.

In the matter of: GUARDICORE INDIA PRIVATE LIMITED …Applicant

In the original matter of: Chitra Srinivas, IP Registration No. IBBI/IPA-002/IP- N00249/2017-18/10734, Liquidator of GUARDICORE INDIA PRIVATE LIMITED, CIN: U72900PN2020FTC194063, Having its Registered Office at: 03rd Floor, Pro-1 Business Centre, Senapati Bapat Road, Pune- 411016.

…..Applicant

Order Delivered on :- 02.05.2024.

IN THE NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH, COURT - II I.A. No. 2095/2024 IN CP (IB)/477/MB/2023 Coram: Mr. Anil Raj Chellan Mr. Kuldip Kumar Kareer Member (Technical) Member (Judicial)

Appearances (Hearing in Physical Mode): For the Petitioner: Adv. Ashwini Gawde and Adv. Nashra Siddiqui i/b. ASR & Associates.

ORDER

Per: - Coram. 1. The present application is filed under Rule 154 of the National Company Law Tribunal Rules, 2016 for seeking rectification of the Order dated 15th April, 2024 passed by this Tribunal in CP(IB) No.477 (MB)/2023, as the Applicant has noticed some inadvertent typographical errors that have crept in the Order dated 15.04.2024.

2. The rectifications sought by the Applicant and our observations on the same are given in the table below: Sr. Page Rectification sought in the paragraph Our Observations No. No. and of the Order (insertions required Para No. shown in bold lettering; deletion shown as strike-through) 1. Page The Liquidator has also referred to the Allowed. These IBBI Circular No. IBBI/LIQ/45/2021 No.05 are the clerical and dated 15.11.2021 stating that the point 5 and Para typographical of the circular hereby clarified that “as No.08 per the provisions of the Code and the errors that have Regulations read with Section 178 of the IN THE NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH, COURT - II I.A. No. 2095/2024 IN CP (IB)/477/MB/2023 Income-tax Act, 1961, an Insolvency crept in the order Professional handling voluntary liquidation and therefore, they process is not required to seek any deserve to be NOC/NDC from the Income-Tax Department as part of compliance in the said rectified. Further, process.” However, in compliance of the we find that the provisions of Section 178 of the Income portion of the Tax Act, 1961, the liquidator had served Order which is notice of his her appointment by-hand vide Letter dated 08th November, 2021 sought by the by letter dated 08th June, 2022 through Applicant to be Speed Post to the Income Tax deleted from the Department on 10th November, 2021 informing them about the voluntary Order deserves to liquidation of the Company and that he be allowed as it she has made compliance with the does not pertain to Regulation 14 of the Insolvency and Bankruptcy Board of India (Voluntary the facts of the Liquidation Process) Regulations, 2017. present case.

However, no response was received nor any request for extension was made by the Income Tax Department. The Liquidator also informed the Profession Tax Department about the voluntary liquidation of the Corporate Person on 18.10.2021. 2. Page The Liquidator/the Petitioner Company Allowed. The had received no claims from any of the No.06 errors appearing in creditors. The Liquidator submitted that and Para paragraph no.09 they have received no claims as there are No.09. no stakeholders other than equity are typographical shareholders as on the liquidation and clerical in commencement date. In pursuance of nature arising out the paper publication and based on verification of claims as per the books of of the accidental accounts, the Liquidator made a slip. and hence, payment of INR 42,250/- towards the we allow the payment of professional tax along with rectification of the interest upto 31/03/2023. The IN THE NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH, COURT - II I.A. No. 2095/2024 IN CP (IB)/477/MB/2023 Liquidator has obtained and annexed same in the way the Clearance Certificate dated and manner 22/03/2022 from the Profession Tax sought by the Officer, Pune stating that the profession tax has been paid by the Applicant Applicant.

Company upto 31.03.2023. The Further, we find Liquidator had submitted the that the portion of Preliminary Report dated November 25, 2021 18th June, 2022 to the directors and the Order which is shareholders of the Corporate Person sought by the within a prescribed time limit of 45 days Applicant to be from the liquidation commencement deleted from the date i.e., 11.10.2021 19th June, 2022. The liquidator submitted the copy of Order deserves to Final Report dated 20.09.2022 be allowed as it 23.03.2023, detailing the liquidation does not pertain to process being conducted. The Final Report states that since there were no the facts of the assets of the Company as on the present case. Liquidation Commencement Date, the amounts were realised by the Company through its contributories to meet the expenses of liquidation and for payment of tax there were no assets for disbursement, only cash in the Bank that was transferred to Liquidation Account. The Final Report states that the Company was not having any creditors on the Liquidation Commencement Date and the liquidation expenses have been adequately paid.

The Final Report also mentions that no litigation is pending against the Corporate Person. It is seen from the record that pursuant to Regulation 38 of Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017, the said Final Report of the Liquidator has been submitted to the Registrar of IN THE NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH, COURT - II I.A. No. 2095/2024 IN CP (IB)/477/MB/2023 Companies in Form GNL-2 on 24.09.2022 vide SRN: F26165449 and to IBBI by way of email dated 23.03.2023 and Speed Post, dated 07.10.2022 28.03.2023. Copy of the said Final Report and the Compliance Certificate in Form ‘H’ have been annexed to the application along with audited statement of Receipts and Payments pertaining to the liquidation period from 01-10-2021 to 31-08-2022 05.05.2022 to 23.03.2023.

3. Thus, in view of our facts pleaded in the application read with our observations in the foregoing paragraph, the present application deserves to be allowed and accordingly, we pass the following order: i. Prayer in terms of Clause 10 (a) of the Application is hereby granted. The errors that have crept in Paragraphs 8 and 9 are hereby rectified in terms of Para 2 of this Order; ii. Post rectification in aforesaid terms, Paragraphs 8 and 9 of the Order dated 15.04.2024 would be read as follows: “8. The Liquidator has also referred to the IBBI Circular No. IBBI/LIQ/45/2021 dated 15.11.2021 stating that the point 5 of the circular hereby clarified that “as per the provisions of the Code and the Regulations read with Section 178 of the Income-tax Act, 1961, an Insolvency Professional handling voluntary liquidation process is not required to seek any NOC/NDC from the Income-Tax Department as part of compliance in the said process.” However, in compliance of the provisions of Section 178 of the Income Tax Act, 1961, the liquidator had served notice of her appointment by letter dated 08th June, 2022 through Speed Post to the Income Tax Department informing them about the voluntary liquidation of the Company and that she has made compliance with the Regulation 14 of the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017.

IN THE NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH, COURT - II I.A. No. 2095/2024 IN CP (IB)/477/MB/2023 However, no response was received nor any request for extension was made by the Income Tax Department.

9. The Liquidator/the Petitioner Company had received no claims from any of the creditors. The Liquidator submitted that they have received no claims as there are no stakeholders other than equity shareholders as on the liquidation commencement date. The Liquidator had submitted the Preliminary Report dated 18th June, 2022 to the directors and shareholders of the Corporate Person within a prescribed time limit of 45 days from the liquidation commencement date i.e., 19th June, 2022. The liquidator submitted the copy of Final Report dated 23.03.2023, detailing the liquidation process being conducted. The Final Report states that there were no assets for disbursement, only cash in the Bank that was transferred to Liquidation Account. The Final Report states that the Company was not having any creditors on the Liquidation Commencement Date and the liquidation expenses have been adequately paid. The Final Report also mentions that no litigation is pending against the Corporate Person. It is seen from the record that pursuant to Regulation 38 of Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017, the said Final Report of the Liquidator has been submitted to the Registrar of Companies and to IBBI by way of email dated 23.03.2023 and Speed Post, dated 28.03.2023. Copy of the said Final Report and the Compliance Certificate in Form ‘H’ have been annexed to the application along with audited statement of Receipts and Payments pertaining to the liquidation period from 05.05.2022 to 23.03.2023.”

iii. Prayer in terms of Clause 10(b) of the Application is hereby granted. The timeline of 14 days to file the Order dated 15.04.2024, passed u/s 59(8) of the Code, will run from the date of this Order.

IN THE NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH, COURT - II I.A. No. 2095/2024 IN CP (IB)/477/MB/2023 iv. Accordingly, the above-captioned I.A. stands allowed and disposed of on above terms.

Sd/- Sd/- ANIL RAJ CHELLAN KULDIP KUMAR KAREER (MEMBER TECHNICAL) (MEMBER JUDICIAL)