# In the matter of Keck Genesis Exhibitions Private Limited CP (IB) No.141-KB-2021

> NCLT judgment dated 2021-11-09. Citation: TCN-2021-NCLT-00557. The case pertains to a Company Petition filed under Section 59 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 9 Nov 2021
- **Citation:** TCN-2021-NCLT-00557
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/keck-genesis-exhibitions-private-limited-cp-ib-no141-kb-2021-8dcdc748

## Summary

### Background

The case pertains to a Company Petition filed under Section 59 of the Insolvency and Bankruptcy Code, 2016, for the voluntary liquidation of Keck Genesis Exhibitions Private Limited. The company, incorporated on July 22, 2011, sought voluntary liquidation due to its inability to continue business operations viably. The Board of Directors resolved to wind up the company's affairs, and the members approved a special resolution for voluntary liquidation in an Extraordinary General Meeting. Mr. Ketan Parekh was appointed as the liquidator.

## Facts

Keck Genesis Exhibitions Private Limited (CIN: U74999WB2011PTC165228) was incorporated on 22.07.2011 under the Companies Act, 1956. The company's registered office is located at 2A, Dwarka, 7, Sarat Bose Road, Kolkata-700020. The company's main objects included carrying on business as professional conference organizers. The authorized share capital was ₹5,00,000/- divided into 50,000 equity shares of ₹10/- each. Due to the inability to carry on business activities in a viable manner, the management proposed to close down the business operations. The Board of Directors decided to wind up the company's affairs through Member's Voluntary Winding up under Section 59 of the Insolvency and Bankruptcy Code, 2016. The directors approved the Declaration of Solvency, and the

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## Issues and analysis

### Issue 1: Whether the Corporate Person's affairs have been completely wound up and its assets completely …

**Ratio:** The principle is that if a corporate entity has completely wound up its affairs and

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**Reasoning:** The NCLT perused the submissions made by the liquidator and the documents annexed to the

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**Interpretation:** This involves interpreting the evidence presented by the liquidator to

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**Application:** The NCLT applied this principle by reviewing the liquidator's report, auditor's

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## Parties

- **Judges:** Rajasekha…; Harish Chander…
- **Respondents:** Keck Genesis…

## Timeline

- **2011-07-22 — Incorporation of the…**: Keck Genesis Exhibitions Private Limited was…
- **2018-04-05 — Board Me…**: The Board of Directors resolved to liquidate the Corporate Person voluntarily under…

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