# In the matter of Bhavishya Alliance Children Nutrition Initiative

> NCLT judgment dated 2023-12-18. Citation: TCN-2023-NCLT-00195. The case pertains to an application for the dissolution of Bhavishya Alliance Child Nutrition…

- **Court:** NCLT
- **Order date:** 18 Dec 2023
- **Citation:** TCN-2023-NCLT-00195
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bhavishya-alliance-children-nutrition-initiative-9f088a37

## Summary

### Background

The case pertains to an application for the dissolution of Bhavishya Alliance Child Nutrition Initiatives under Section 59(7) of the Insolvency and Bankruptcy Code, 2016. The company underwent voluntary liquidation, and Mrs. Kumudini Dinesh Bhalerao was appointed as the liquidator. The company was incorporated on 03.10.2010 with the objective of promoting and strategizing initiatives to reduce child malnutrition in India. The liquidator followed the procedures as per the Insolvency and Bankruptcy Code, including public announcements, notifying relevant authorities, and submitting reports.

## Facts

Bhavishya Alliance Child Nutrition Initiatives underwent voluntary liquidation. The company was incorporated on 03.10.2010 with CIN U93090MH2010NPL208544, registered in Mumbai. Its main objective was to reduce child malnutrition in India. A declaration dated 11.11.2022 was received from Hindustan Unilever Limited, the holding company, maintaining solvency throughout the liquidation. Directors confirmed solvency via affidavit dated 29.11.2022. Kumudini Dinesh Bhalerao was appointed liquidator on 29.11.2022, subject to member approval. An EGM held on 08.12.2022 passed a resolution for voluntary liquidation. Public announcement was made on 09.12.2022. The Registrar of Companies and IBBI were notified on 13.12.2022. The liquidator intimated the Income Tax Department and

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## Issues and analysis

### Issue 1: Whether the Corporate Person, Bhavishya Alliance Child Nutrition Initiatives, should be dissolved …

**Ratio:** Section 59(7) of the Insolvency and Bankruptcy Code, 2016, allows for the dissolution of

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**Reasoning:** The court reasoned that the liquidator had followed the due process as prescribed under

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**Interpretation:** Section 59(7) provides a mechanism for formally dissolving a company that has

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**Application:** The court applied Section 59(7) to the facts of the case, noting that the

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## Parties

- **Judges:** Reeta K…; SANJIV…
- **Respondents:** Bhavishya…

## Timeline

- **2010-10-03 — Company Incor…**: Bhavishya Alliance Child Nutrition…
- **2022-11-11 — Declaration of…**: Declaration received from Hindustan…

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