# In the matter of Aliceblue Insurance Broking Private Limited

> NCLT judgment dated 2026-03-30. Citation: TCN-2026-NCLT-00425. The case pertains to an application filed under Section 59 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 30 Mar 2026
- **Citation:** TCN-2026-NCLT-00425
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-bengaluru/aliceblue-insurance-broking-private-limited-b91279de

## Summary

### Background

The case pertains to an application filed under Section 59 of the Insolvency and Bankruptcy Code, 2016, seeking the voluntary liquidation and dissolution of M/s. Aliceblue Insurance Broking Private Limited.

## Facts

The Applicant Company, M/s. Aliceblue Insurance Broking Private Limited, was incorporated on 31.05.2021 in Bengaluru, Karnataka.

The Board of Directors of the Applicant decided to voluntarily liquidate the Applicant in their meeting held on 15.09.2023 and executed a Declaration of Solvency.

A Special Resolution to liquidate the Company voluntarily was passed on 12.10.2023, and Shri S. Vijay Mahindhran was appointed as Liquidator.

The Audited Financial Statements of the Applicant for the Financial Years 31.03.2022 and 31.03.2023 along with the Auditor's Report have been filed.

ROC, Karnataka, filed a Status Report on 14.11.2025 stating that no enquiry/inspection/complaint/legal action is pending against the Applicant.

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## Issues and analysis

### Issue 1: Whether the Applicant Company, M/s. Aliceblue Insurance Broking Private Limited, should be …

**Ratio:** Section 59(8) of the IBC, 2016, confers powers to dissolve a company if its affairs have

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**Reasoning:** The Tribunal examined the submissions and documents filed with the Application and found

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**Interpretation:** The Tribunal interpreted Section 59(8) to mean that if a company's affairs are

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**Application:** The Tribunal applied Section 59(8) to the facts of the case, noting that the

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## Parties

- **Judges:** Sunil Kumar…; Radhakrishna…
- **Appellants:** S. Vijay Ma…
- **Respondents:** M/s. Aliceblue…
- **Other parties:** S. Vijay Mahindhra…
- **Advocates:** Atul Mad…; Ganesh R.…

## Timeline

- **2021-05-31 — Incorpor…**: The Applicant Company was…
- **2023-09-15 — Board Me…**: The Board of Directors decided to…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 59 — Voluntary liquidation of corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-59)

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