# In the matter of All Saints India Private Limited

> NCLT judgment dated 2024-02-14. Citation: TCN-2024-NCLT-02601. The case pertains to an application filed under Section 59(7) of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 14 Feb 2024
- **Citation:** TCN-2024-NCLT-02601
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/all-saints-india-private-limited-18f3feb4

## Summary

### Background

The case pertains to an application filed 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, for the voluntary liquidation of M/s. All Saints India Private Limited. The company was incorporated on 15.05.2012 and intended to liquidate itself voluntarily due to discontinuance of its business activities since 28.03.2018. The Board of Directors passed a resolution on 29.03.2022 to liquidate the company, and Mr. Shashikant Shravan Dhamne was appointed as the Voluntary Liquidator.

## Facts

M/s. All Saints India Private Limited, incorporated on 15.05.2012, sought voluntary liquidation under Section 59(7) of the Insolvency and Bankruptcy Code, 2016. The company's registered office is located in Delhi. The company discontinued its business activities on 28.03.2018 and had no outstanding debts or defaults. The Board of Directors resolved to liquidate the company on 29.03.2022, appointing Mr. Shashikant Shravan Dhamne as the Voluntary Liquidator. The authorized share capital of the company is INR 1,00,00,000, while the issued, subscribed, and paid-up share capital is INR 1,00,000. The main object of the company is to provide support services to its parent company, M/s. All Saints Retail Ltd., U.K. The shareholders of the company are All Saints Retail Limited

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## Issues and analysis

### Issue 1: Whether the application for voluntary liquidation of M/s. All Saints India Private Limited under …

**Ratio:** Section 59(8) of the Insolvency and Bankruptcy Code, 2016, empowers the Adjudicating

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**Reasoning:** The Adjudicating Authority considered the submissions and records, noting that the

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**Interpretation:** Section 59 of the IBC provides a mechanism for voluntary liquidation of a

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**Application:** Based on the facts and the Voluntary Liquidator's compliance with the

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## Parties

- **Judges:** BACHU VENKAT…; ATUL CHAT…
- **Appellants:** M/s. All Saints…
- **Respondents:** All Saints India…
- **Advocates:** Ashu Ka…

## Timeline

- **2012-05-15 — Company Incor…**: M/s. All Saints India Private…
- **2018-03-28 — Business Discon…**: The Corporate Person…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 59(7) — Voluntary liquidation of corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-59)

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