# In the matter of NCML Jalalabad Private Limited > NCLT judgment dated 2025-07-10. Citation: TCN-2025-NCLT-00807. NCML Jalalabad Private Limited initiated voluntary liquidation under Section 59 of the… - **Court:** NCLT - **Order date:** 10 Jul 2025 - **Citation:** TCN-2025-NCLT-00807 - **Category:** IBC - **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ncml-jalalabad-private-limited-bf14592c ## Summary ### Background NCML Jalalabad Private Limited initiated voluntary liquidation under Section 59 of the Insolvency and Bankruptcy Code, 2016, due to the cancellation of a concession agreement with the Food Corporation of India (FCI). ## Facts NCML Jalalabad Private Limited was incorporated on January 20, 2017. The company entered into a concession agreement with FCI for the construction, operation, and maintenance of a Silo Complex. The concession agreement was canceled due to challenges in land acquisition and regulatory approvals. The Board of Directors proposed voluntary liquidation. The company filed a Declaration of Solvency. Rajesh Panayanthatta was appointed as the Liquidator. Public announcements were made to invite stakeholders to submit claims. The Liquidator submitted a Preliminary Report and a Final Report. ROC filed its report and did not raise any objection. FCI filed an amended reply raising a financial claim, which was addressed during the hearing. ## Issues and analysis ### Issue 1: Whether the voluntary liquidation process initiated by NCML Jalalabad Private Limited under Section … **Ratio:** Section 59 of the Insolvency and Bankruptcy Code, 2016, allows for voluntary liquidation … **Reasoning:** The company followed the prescribed procedures, including filing necessary forms, making … **Interpretation:** The Tribunal interpreted the provisions of Section 59 and related regulations … **Application:** The Tribunal applied the provisions of Section 59 to the facts of the case, … ## Parties - **Judges:** Harnam Singh…; SHISHIR A… - **Respondents:** NCML JALALABAD… - **Other parties:** Appala Raju…; Anuj Kumar…; +2 more - **Advocates:** Karan Rajp…; Anuradha… ## Timeline - **2017-01-20 — Incorpor…**: NCML Jalalabad Private… - **N/A — Concession Ag…**: The company entered into a… --- 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/ncml-jalalabad-private-limited-bf14592c