# In the matter of Trichy Sri Amman Finance Private Limited CP(IB)-82(CHE)-2022

> Read the full IBC case summary for In the matter of Trichy Sri Amman Finance Private Limited CP(IB)-82(CHE)-2022. NCLT judgment dated 2022-07-22. Citation:…

- **Court:** NCLT
- **Order date:** 22 Jul 2022
- **Citation:** TCN-2022-NCLT-04573
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/trichy-sri-amman-finance-private-limited-cpib-82che-2022-95520e55

## Summary

### Background

This is a Company Application filed by the Liquidator for the dissolution of Trichy Sri Amman Finance Private Limited following its voluntary liquidation under Section 59 of the Insolvency and Bankruptcy Code, 2016.

## Facts

Trichy Sri Amman Finance Private Limited, incorporated on October 27, 1997, under the Companies Act, 1956, was engaged in hire purchasing, leasing, and money lending. The company's registered office is in Trichy. The Board of Directors, after reviewing the company's progress, determined it was not financially viable to continue business, especially due to the COVID-19 pandemic, and proposed voluntary liquidation.

…

## Issues and analysis

### Issue 1: Whether Trichy Sri Amman Finance Private Limited has complied with all necessary provisions of the…

**Ratio:** A company seeking dissolution after voluntary liquidation must demonstrate compliance…

**Reasoning:** The Tribunal reviewed the filings, including the Declaration of Solvency, Audited…

**Interpretation:** The court interpreted **Section 59** of the IBC, 2016, and the Insolvency and…

**Application:** Given that the company had 'Nil' creditors, the proviso under Section 59(3)(c)…

## Parties

- **Judges:** S. Ramath…; SAMEER…
- **Advocates:** For Appli…; R. Rajesh,…

## Timeline

- **October 27, 1997 — Company Incor…**: Trichy Sri Amman Finance Private Limited was…
- **October 19, 2020 — Board Resolution for…**: The Board of Directors passed a resolution…

---

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/trichy-sri-amman-finance-private-limited-cpib-82che-2022-95520e55