# In the matter of Aam Sky Geospatial Solutions Private Limited

> NCLT judgment dated 2025-04-23. Citation: TCN-2025-NCLT-00193. The application IA (IBC)(DIS)/04/2025 was filed in C.P.(IB) No.82/10/HDB/2023 seeking the…

- **Court:** NCLT
- **Order date:** 23 Apr 2025
- **Citation:** TCN-2025-NCLT-00193
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/aam-sky-geospatial-solutions-private-limited-2312f88f

## Summary

### Background

The application IA (IBC)(DIS)/04/2025 was filed in C.P.(IB) No.82/10/HDB/2023 seeking the dissolution of the Corporate Debtor, M/s. Aam Sky Geospatial Solutions Private Limited, and the discharge of the Liquidator, Mr. Piyush Kishanlal Jani, from his duties. The application also sought condonation of a 12-day delay in filing. The liquidation process commenced on 20.10.2023, following which a public announcement was made on 28th October 2023. The Liquidator submitted preliminary and asset memorandum reports as per IBBI regulations. The liquidator verified claims from creditors and constituted a Stakeholders Consultation Committee (SCC), conducting eight meetings. The Corporate Debtor had no tangible assets at the commencement of CIRP/liquidation, and two rounds of

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## Facts

M/s. Aam Sky Geospatial Solutions Private Limited underwent liquidation. Mr. Piyush Kishanlal Jani served as the liquidator. The liquidation commencement date was 2023-10-20, followed by a public announcement on 2023-10-28. The liquidator filed preliminary and asset memorandum reports. Stakeholders Consultation Committee (SCC) meetings were held. The Corporate Debtor had no tangible assets, and e-auctions were unsuccessful. The liquidator realized and distributed the available assets. The liquidator transferred funds to the EPFO account. The last date for conclusion of liquidation period was 2025-01-18, with a 12-day delay in filing the dissolution application. The liquidator sought condonation of the delay. The corporate debtor's account became dormant, and the

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## Issues and analysis

### Issue 1: Whether the application for dissolution of the Corporate Debtor and discharge of the Liquidator …

**Ratio:** Section 54(1) of the Insolvency and Bankruptcy Code, 2016 allows for the dissolution of

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**Reasoning:** The court was satisfied that the liquidation process had been completed as per the

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**Interpretation:** The legal issue revolves around the interpretation and application of Section

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**Application:** The court applied the ratio to the facts of the case, noting that the

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## Parties

- **Judges:** Rajeev Bh…; Sanjay…
- **Appellants:** Mr.Piyush…
- **Respondents:** AAM Sky Geospatial…

## Timeline

- **2023-10-20 — Commencement of…**: Liquidation commenced…
- **2023-10-28 — Public Annou…**: Public announcement was made…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 54(1) — Dissolution of corporate debtor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-54)

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