# In the matter of Khel Gaon Estates Private Limited CP(IB) No. 900-KB-2020

> NCLT judgment dated 2020-11-12. Citation: TCN-2020-NCLT-00260. The application is filed under Section 59(7) of the Insolvency and Bankruptcy Code, 2016 by the…

- **Court:** NCLT
- **Order date:** 12 Nov 2020
- **Citation:** TCN-2020-NCLT-00260
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/khel-gaon-estates-private-limited-cpib-no-900-kb-2020-669681e7

## Summary

### Background

The application is filed under Section 59(7) of the Insolvency and Bankruptcy Code, 2016 by the Liquidator, Mr. Jiwan Prakash Saini, on behalf of the corporate person, M/s. Khel Gaon Estates Private Limited, for dissolution of the corporate person upon voluntary liquidation. The Corporate Person was incorporated on 4th July, 1995 under the Companies Act, 1956 with the Registrar of Companies, West Bengal, Kolkata. The Board of Directors of the Company have passed Resolution of Voluntary Winding Up of the Company on 04th August, 2017. The Liquidator has complied with various requirements including public announcement, service of documents, submission of reports, and obtaining necessary certificates and affidavits.

## Facts

Khel Gaon Estates Private Limited (the 'Corporate Person') underwent voluntary liquidation. The application for dissolution was filed by the Liquidator, Jiwan Prakash Saini, under Section 59(7) of the Insolvency and Bankruptcy Code, 2016. The company was incorporated on July 4, 1995, under the Companies Act, 1956. The Board of Directors passed a resolution for voluntary winding up on August 4, 2017. The Liquidator made a public announcement on August 8, 2017, in two newspapers, inviting stakeholders to submit claims. The Liquidator filed relevant forms and submitted reports to the Registrar of Companies, Insolvency and Bankruptcy Board of India, and other relevant authorities. The Liquidator also obtained necessary certificates and affidavits, including an affidavit

…

## Issues and analysis

### Issue 1: Whether the application for dissolution of the Corporate Applicant under Section 59(7) of the …

**Ratio:** Section 59(7) of the Insolvency and Bankruptcy Code, 2016 allows for the dissolution of a

…

**Reasoning:** The court reasoned that the affairs of the Corporate Person have been completely wound

…

**Interpretation:** Section 59(7) is interpreted to mean that once a company has undergone

…

**Application:** The court applied the ratio to the facts of the case, noting that the

…

## Parties

- **Judges:** Rajasekha…; Harish Chander…
- **Respondents:** KHEL GAON ESTATES…

## Timeline

- **1995-07-04 — Incorporation o…**: Khel Gaon Estates Private Limited…
- **2017-08-04 — Resolution for…**: Board of Directors passed Resolution of…

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/khel-gaon-estates-private-limited-cpib-no-900-kb-2020-669681e7