# In the matter of Ebusinessware (India) Private Limited

> NCLT judgment dated 2023-07-27. Citation: TCN-2023-NCLT-05248. The application was filed by Jugraj Singh Bedi, the liquidator of Ebusinessware(India) Private…

- **Court:** NCLT
- **Order date:** 27 Jul 2023
- **Citation:** TCN-2023-NCLT-05248
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ebusinessware-india-private-limited-acdddd32

## Summary

### Background

The application was filed by Jugraj Singh Bedi, the liquidator of Ebusinessware(India) Private Limited, under Section 54 of the Insolvency and Bankruptcy Code, 2016, for the dissolution of the corporate debtor.

## Facts

Jugraj Singh Bedi, liquidator of Ebusinessware(India) Private Limited, filed an application under Section 54 of the IBC for the dissolution of the corporate debtor.

The corporate debtor was defunct for the past nine years, with no assets available for liquidation.

The liquidator realized the leftover balances in two bank accounts (Karnataka Bank and HDFC Bank).

The bank accounts were closed, and the balance of Rs.34,558.15/- was transferred to Karnataka Bank Ltd.

The liquidator informed the ROC-Delhi about the liquidation.

The Adjudicating Authority dissolved the Corporate Debtor, Ebusinessware (India) Private Limited.

The liquidator, Mr. Jugraj Singh Bedi, was discharged from his duties.

## Issues and analysis

### Issue 1: Whether the corporate debtor, Ebusinessware (India) Private Limited, should be dissolved under …

**Ratio:** Section 54 of the IBC allows the adjudicating authority to dissolve a corporate debtor

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**Reasoning:** The assets of the corporate debtor have been completely liquidated, and the liquidator

…

**Interpretation:** The adjudicating authority can order the dissolution of the corporate debtor

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**Application:** The Adjudicating Authority, exercising powers conferred under Section 54(2) of

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## Parties

- **Judges:** Harnam Singh…; SUBRATA KUM…
- **Appellants:** Mallesham…; Jugraj Sing…
- **Respondents:** Ebusinessware(Indi…; Ajay K…; +2 more
- **Other parties:** Committee of…

## Timeline

- **2023-02-03 — Liquidation…**: The Hon'ble Adjudicating Authority passed an order for initiating the liquidation process…
- **2023-02-06 — Discontinuatio…**: The liquidator requested for discontinuation of services of two HDFC bank accounts and…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 54 — Dissolution of corporate debtor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-54)

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