# In the matter of Hatfield Technologies India Pvt. Ltd. C.P. No. 164-BB-2020

> NCLT judgment dated 2020-12-07. Citation: TCN-2020-NCLT-00141. The case pertains to the voluntary liquidation of Hatfield Technologies India Private Limited.…

- **Court:** NCLT
- **Order date:** 7 Dec 2020
- **Citation:** TCN-2020-NCLT-00141
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/hatfield-technologies-india-pvt-ltd-cp-no-164-bb-2020-a55ee27b

## Summary

### Background

The case pertains to the voluntary liquidation of Hatfield Technologies India Private Limited. The company was incorporated on 08.09.2017. An Extra Ordinary General Meeting held on 15.07.2019, passed a special resolution approving voluntary liquidation of the Company u/S.59 of the Code, and had appointed the Applicant as the Liquidator of the Company. The liquidator made a public announcement in Form A on 16.07.2019, seeking claims from stakeholders. The Registrar of Companies and the IBBI were notified about the resolution for liquidation. The company has no creditors and no assets on the date of commencement, except a bank balance. The proceeds from the sale of liquidation assets are to be distributed as per the order of priority named U/ss.53 (1) (a) to 53 (1) (g).

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## Facts

Hatfield Technologies India Private Limited was incorporated on 08.09.2017. Its authorized share capital is Rs. 10,00,000, divided into 10,00,000 equity shares of Re. 1 each. The issued, subscribed, and paid-up capital is also Rs. 10,00,000. The company's main objects include software development, IT solutions, and related services. The company filed audited financial statements and annual returns with the Registrar of Companies up to FY ended 31.03.2018, and income tax returns up to FY ended 31.03.2019. An Extra Ordinary General Meeting held on 15.07.2019, passed a special resolution approving voluntary liquidation under Section 59 of the Code. The Applicant was appointed as the Liquidator. A public announcement in Form A was published on 16.07.2019, seeking claims

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## Issues and analysis

### Issue 1: Whether the voluntary liquidation process of Hatfield Technologies India Private Limited was …

**Ratio:** Section 59 of the Insolvency and Bankruptcy Code, 2016 and the IBBI (Voluntary

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**Reasoning:** The court considered the liquidator's submissions, the Registrar of Companies' report,

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**Interpretation:** Section 59 of the IBC and the associated regulations outline the steps for a

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**Application:** The court found that the liquidator had followed the due process of law and

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## Parties

- **Judges:** Rajeswara Rao…; Ashutosh C…
- **Appellants:** Sumana…
- **Respondents:** Hatfield Technolog…; The Registrar of…

## Timeline

- **2017-09-08 — Incorporation o…**: Hatfield Technologies India…
- **2019-07-15 — Special Resolution for…**: An Extra Ordinary General Meeting passed a special resolution approving voluntary…

## 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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