# In the matter of Control & Applications Automation India Private Limited

> NCLT judgment dated 2024-07-01. Citation: TCN-2024-NCLT-01099. The case pertains to a Company Petition filed under Section 59(7) of the Insolvency and…

- **Court:** NCLT
- **Order date:** 1 Jul 2024
- **Citation:** TCN-2024-NCLT-01099
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/control-applications-automation-india-private-limited-110f3979

## Summary

### Background

The case pertains to a Company Petition filed under Section 59(7) of the Insolvency and Bankruptcy Code, 2016, for the dissolution of Control and Applications Automation India Private Limited through voluntary liquidation. The company, through its liquidator, Mr. Ram Thakkar, sought dissolution after completing the necessary liquidation procedures. The company's board of directors decided to voluntarily liquidate due to a lack of business prospects and long-term financial resources. The directors verified the company's solvency via an affidavit and a Declaration of Solvency. The members passed a special resolution in an Extraordinary General Meeting to voluntarily liquidate the company and appoint Mr. Ram Thakkar as the liquidator.

## Facts

Control and Applications Automation India Private Limited filed a petition for voluntary liquidation under Section 59(7) of the Insolvency and Bankruptcy Code, 2016. The company was incorporated on 2008-06-02. The company's main objective was to manufacture, sell, purchase, trade, install, and maintain products related to wireless activities. The company's directors decided to voluntarily liquidate due to a lack of business prospects and long-term financial resources. The directors verified the company's solvency. The members passed a special resolution to voluntarily liquidate the company and appoint Mr. Ram Thakkar as the liquidator. The liquidator made a public announcement to invite claims, but no claims were received. The liquidator opened a bank account for the

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## Issues and analysis

### Issue 1: Whether the Corporate Person, Control and Applications Automation India Private Limited, should be …

**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 affairs of the Corporate Person had been completely wound up,

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**Interpretation:** Section 59(7) of the IBC is interpreted to mean that once a company has

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where

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## Parties

- **Judges:** Reeta K…; Madhu S…
- **Respondents:** Control and…

## Timeline

- **2008-06-02 — Company Incor…**: Control and Applications Automation India Private Limited was incorporated under the…
- **2018-09-20 — Board of Directors…**: The Board of Directors decided to voluntarily liquidate the Company due to a lack of…

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