# In the matter of VSK Holdings Private Limited

> NCLT judgment dated 2025-06-26. Citation: TCN-2025-NCLT-00867. The case pertains to an application filed under Section 59 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 26 Jun 2025
- **Citation:** TCN-2025-NCLT-00867
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-bengaluru/vsk-holdings-private-limited-abf872c6

## Summary

### Background

The case pertains to an application filed under Section 59 of the Insolvency and Bankruptcy Code, 2016, seeking the dissolution of VSK Holdings Private Limited through voluntary liquidation.

## Facts

The Applicant Company, VSK Holdings Private Limited, was incorporated on 11.06.2012 in Bengaluru, Karnataka.

The Board of Directors decided to voluntarily liquidate the Applicant on 15.06.2020 and executed a Declaration of Solvency.

A Special Resolution to liquidate the Company voluntarily was passed on 24.06.2020, and Shri C. Dwarakanath was appointed as Liquidator.

The commencement of liquidation and appointment of liquidator was intimated to the Registrar of Companies and the Public Announcement was placed on the IBBI website.

The Liquidator made a Public Announcement of commencement of liquidation in Form A in 'Business Standard' and 'Kannada Prabha' on 25.06.2020.

No claims were received by the Applicant except from the shareholders and the promoters of the Company.

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## Issues and analysis

### Issue 1: Whether the affairs of the Applicant Company have been completely wound up and its assets have been …

**Ratio:** Section 59(8) of the

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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 the evidence to mean that the company had completed

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**Application:** The Tribunal applied the provisions of Section 59(8) of the IBC, 2016 to the

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## Parties

- **Judges:** Sunil Kumar…; Radhakrishna…
- **Respondents:** VSK Holdings…
- **Other parties:** C. Dwarak…; Vikram S.…; +2 more
- **Advocates:** Venkata Subbarao…

## Timeline

- **2012-06-11 — Incorpor…**: VSK Holdings Private…
- **2020-06-15 — Liquidation D…**: Board of Directors decided to…

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