Bikkiraveendra Babu, Member - (1.) Gaytech Engineering Private Limited, in its meeting of Board of Directors held on 15th September, 2017 resolved to file a petition under the Insolvency and Bankruptcy Code, 2016 before the National Company Law Tribunal for initiation of resolution process, and further resolved to place the matter before the Extraordinary General Meeting. The Board of Directors also resolved that Shri Sunil Sunderlal Lunar be authorised to do all necessary acts and sign all petitions necessary under the Insolvency and Bankruptcy Code, 2016 before the National Company Law Tribunal.
(2.) Gaytech Engineering Private Limited in General Body Meeting held on 15th September, 2017 by way of Special Resolution resolved to initiate Corporate Insolvency Resolution Process considering the Company's critical financial condition.
(3.) Pursuant to the said Resolutions, Shri Sunil Sunderlal Luhar, Director of M/s. Gaytech Engineering Private Limited filed this Petition under Section 10 of the Insolvency and Bankruptcy Code, 2016 ["the Code" for short] read with Rule 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 with a request to trigger Corporate Insolvency Resolution Process in respect of M/s. Gaytech Engineering Private Limited, the Registered V Office of which is situated in Varodara, Gujarat.;