# In the matter of Ati Eductech Private Limited C.P.(IB)-57-(MP)2021

> NCLT judgment dated 2022-08-25. Citation: TCN-2022-NCLT-01266. The case pertains to an application filed by the liquidator, Mr. Shashikant Shravan Dhamne,…

- **Court:** NCLT
- **Order date:** 25 Aug 2022
- **Citation:** TCN-2022-NCLT-01266
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/ati-eductech-private-limited-cpib-57-mp2021-85a610f9

## Summary

### Background

The case pertains to an application filed by the liquidator, Mr. Shashikant Shravan Dhamne, under Section 59(7) of the Insolvency & Bankruptcy Code, 2016, read with IBBI (Voluntary Liquidation Process) Regulations, 2017, seeking an order for the dissolution of the Corporate Person, M/s Ati Edutech India Private Limited. The corporate person was incorporated on August 11, 2016, and was engaged in designing, development, manufacturing, and software development. The directors declared solvency and passed a special resolution on December 30, 2020, to voluntarily liquidate the company. Mr. Shashikant Dhamne was appointed as the liquidator.

## Facts

Ati Edutech India Private Limited was incorporated on August 11, 2016, and engaged in designing, development, manufacturing, and software development. The directors made a declaration under Section 59(3) r.w. Regulation 3 of the IBBI (Voluntary Liquidation Process) Regulations, 2017, stating the company could pay its debts in full and was not being liquidated to defraud anyone. A special resolution was passed on December 30, 2020, to voluntarily liquidate the company, appointing Mr. Shashikant Dhamne as liquidator. The liquidator made a public announcement on January 1, 2021, calling for claims by January 29, 2021. No claims were received. The liquidator submitted a preliminary report on February 13, 2021, estimating assets at Rs.3,96,031.58/-. A new bank account was

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## Issues and analysis

### Issue 1: Whether the application for dissolution of the Corporate Person, M/s Ati Edutech India Private …

**Ratio:** Section 59(7) of the Insolvency & Bankruptcy Code, 2016, allows the Adjudicating

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**Reasoning:** The court considered the fact that the liquidator had completed all the necessary steps

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**Interpretation:** Section 59(7) provides the legal basis for the Adjudicating Authority to

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**Application:** In this case, the liquidator, Mr. Shashikant Shravan Dhamne, followed all the

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## Parties

- **Judges:** Madan B.…; KAUSHALENDRA…
- **Appellants:** Shashikant…
- **Respondents:** Ati Edutech India…; ROC Gwa…

## Timeline

- **2016-08-11 — Incorporation of…**: Ati Edutech India Private…
- **2020-12-30 — Special Resolution for…**: A special resolution was passed to voluntarily liquidate the company, and Mr. Shashikant…

## Legal provisions

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

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