# In the matter of Vinayak Services Private Limited

> NCLT judgment dated 2026-02-10. Citation: TCN-2026-NCLT-00140. The case pertains to an application filed by Vinayak Services Private Limited through its…

- **Court:** NCLT
- **Order date:** 10 Feb 2026
- **Citation:** TCN-2026-NCLT-00140
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/vinayak-services-private-limited-8bf1b53a

## Summary

### Background

The case pertains to an application filed by Vinayak Services Private Limited through its Liquidator under Section 59(7) of the Insolvency and Bankruptcy Code, 2016, read with the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017, seeking dissolution of the company.

## Facts

Vinayak Services Private Limited filed a petition for voluntary liquidation under Section 59(7) of the IBC.

The company was incorporated on March 30, 1995, under the Companies Act, 1956.

The company's authorized share capital was ₹3,00,00,000, and the issued, subscribed, and paid-up share capital was ₹2,29,82,500.

The company ceased all business operations and has no active business activities.

The Directors of the company executed a Declaration of Solvency on May 12, 2025.

The Board of Directors approved the voluntary liquidation of the company on May 12, 2025, and appointed Mr. Madhusudan Sharma as the Liquidator.

The company filed necessary statutory forms with the Registrar of Companies.

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## Issues and analysis

### Issue 1: Whether the Tribunal should grant the petition for voluntary liquidation of Vinayak Services …

**Ratio:** The Tribunal has the power under sub-section (7) of section 59 of the Code to order the

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**Reasoning:** The Applicant has followed all the necessary procedures and complied with the provisions

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**Interpretation:** The Tribunal interprets Section 59(7) of the Code to allow for the dissolution

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**Application:** The Tribunal applied the provisions of Section 59(7) of the Code to the facts

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## Parties

- **Judges:** KHETRABASI…
- **Respondents:** Vinayak Services…
- **Other parties:** Aditya Kuma…; Manju Mahe…; +1 more
- **Advocates:** Amar Kumar…

## Timeline

- **1995-03-30 — Incorpor…**: Vinayak Services Private Limited was…
- **2025-05-12 — Declaration of…**: Directors executed a…

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