# In the matter of Serco Integrated Transport Private Limited CP (IB) No.274-Chd-Hry-2021

> NCLT judgment dated 13 Sept 2022. Citation: TCN-2022-NCLT-01085. The present Company Petition was filed by Ms. Monika Kohli, the Liquidator of Serco…

- **Court:** NCLT
- **Order date:** 13 Sept 2022
- **Citation:** TCN-2022-NCLT-01085
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/serco-integrated-transport-private-limited-cp-ib-no274-chd-hry-2021-b3d0e385

## Summary

### Background

The present Company Petition was filed by Ms. Monika Kohli, the Liquidator of Serco Integrated Transport Private Limited, seeking the dissolution of the Applicant Company under Section 59 of the Insolvency and Bankruptcy Code, 2016 (IBC) and the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017. The company had initiated voluntary liquidation proceedings after its Board of Directors conducted a full inquiry into its affairs and declared that the company had no debts, or would be able to pay any claims in full from the proceeds of its assets. This declaration was supported by affidavits and audited financial statements for the years 2016-2017 and 2017-2018, confirming that the liquidation was not intended to defraud any person.

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## Facts

Serco Integrated Transport Private Limited, the Applicant Company, was incorporated under the Companies Act, 1956, with CIN No. U74110HR2009FTC039407. Its registered office is located at Plot 838, Sector 38, opposite HUDA Market Gurugram, Gurgaon, HR 122001, India. The company's main objects included acting as financial and management consultants, providing advice and services in various fields, including general administrative, commercial, financial, legal, taxation, statistical, accountancy, quality control, data processing, software solutions, IT, and application services.

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## Issues and analysis

### Issue 1: Whether the Applicant Company has complied with all statutory provisions for voluntary liquidation…

**Ratio:** A corporate person seeking voluntary liquidation must strictly adhere to the procedural…

**Reasoning:** The court reasoned that the Liquidator had submitted extensive documentation…

**Interpretation:** The court interpreted Section 59 of the IBC and the Voluntary Liquidation…

**Application:** In this case, the Liquidator filed a declaration of solvency, convened an EOGM…

## Parties

- **Judges:** Harnam Singh…; SUBRATA KUM…
- **Advocates:** For the Applicant…; Practicing…; +2 more

## Timeline

- **July 25, 2018 — Declaration of…**: Directors submitted Declaration of Solvency via affidavits, stating full inquiry into…
- **July 27, 2018 — EOGM and Liquidator…**: Extra Ordinary General Meeting convened, special resolution passed for 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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