# In the matter of Tirupati Balaji Polymers Private Limited

> Read the full IBC case summary for In the matter of Tirupati Balaji Polymers Private Limited. NCLT judgment dated 2025-07-21. Citation: TCN-2025-NCLT-01204.

- **Court:** NCLT
- **Order date:** 21 Jul 2025
- **Citation:** TCN-2025-NCLT-01204
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/tirupati-balaji-polymers-private-limited-69cfca47

## Summary

### Background

The application was filed by the liquidator seeking dissolution of the corporate debtor, Tirupati Balaji Polymers Private Limited, after the completion of the liquidation process and realization of assets.

## Facts

The applicant, Kashyap Shah, Liquidator of Tirupati Balaji Polymers Private Limited, filed an application under Section 54 of the Insolvency and Bankruptcy Code, 2016, read with Regulation 45(3)(b) of the IBBI (Liquidation Process) Regulations, 2016, seeking dissolution of the corporate debtor. The Tribunal had previously ordered the liquidation of Tirupati Balaji Polymers Private Limited on June 16, 2020, and appointed Kashyap Shah as the Liquidator under Section 34(1) of the Code.

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## Issues and analysis

### Issue 1: Whether the corporate debtor's assets…

**Ratio:** The corporate debtor's assets were completely liquidated, and no assets remained for…

**Reasoning:** The Tribunal reviewed the final report and the Compliance Certificate (Form-H) filed by…

**Interpretation:** Section 54(1) of the IBC requires an application for dissolution when assets…

**Application:** Based on the final report and compliance certificate, the Tribunal found that…

## Parties

- **Judges:** SHAMMI…; SANJEEV S…
- **Advocates:** Karan Sanghani,…

## Timeline

- **June 16, 2020 — Liquidation…**: Tribunal passed order for liquidation of Corporate Debtor Tirupati Balaji Polymers…
- **June 20, 2020 — Public Annou…**: Applicant issued a public announcement in Form-B under Regulation 12 of the Liquidation…

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