# In the matter of DSS Healthcare Private Limited

> NCLT judgment dated 2024-07-03. Citation: TCN-2024-NCLT-01082. The case pertains to an application filed by the Liquidator, Mr. Amarpal, on behalf of DSS…

- **Court:** NCLT
- **Order date:** 3 Jul 2024
- **Citation:** TCN-2024-NCLT-01082
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/dss-healthcare-private-limited-066e61af

## Summary

### Background

The case pertains to an application filed by the Liquidator, Mr. Amarpal, on behalf of DSS Healthcare Private Limited, under Section 59 of the Insolvency & Bankruptcy Code, 2016, read with the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017, seeking an order for the dissolution of the Corporate Person. DSS Healthcare Private Limited, incorporated on 18.03.2005, initiated voluntary liquidation. The Board of Directors approved the resolution for voluntary liquidation on 09.04.2021, and a special resolution was passed in an Extra Ordinary General Meeting (EGM) on 20.04.2021 for winding up the company and appointing Mr. Amarpal as the Liquidator. Public announcements were made, and a preliminary report was prepared. The

…

## Facts

DSS Healthcare Private Limited, CIN: U24231DL2005PTC134181, initiated voluntary liquidation under Section 59 of the Insolvency & Bankruptcy Code, 2016. Mr. Amarpal was appointed as the Liquidator. The Board of Directors approved the resolution for voluntary liquidation on 09.04.2021. A special resolution was passed in an Extra Ordinary General Meeting (EGM) on 20.04.2021. Public announcements were made in 'Financial Express' and 'Jansatta' on 24.04.2021. The company held funds in Cash & Bank Balances and investments in Essel Funds, Asset-II, amounting to Rs. 84 Lakh approx. as on the 'Liquidation Commencement Date'. Efforts were made to dispose of the investments in Essel Funds through e-auctions, which were unsuccessful. The company faced challenges in

…

## Issues and analysis

### Issue 1: Whether the application for dissolution of DSS Healthcare Private Limited under Section 59 of the …

**Ratio:** Section 59 of the Insolvency & Bankruptcy Code, 2016, provides for the voluntary

…

**Reasoning:** The court considered the submissions made by the counsel, the documents annexed to the

…

**Interpretation:** Section 59 of the Code allows for voluntary liquidation if the company's

…

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

…

## Parties

- **Judges:** MANNI SANKARIAH…; Sanjeev R…
- **Appellants:** Amar…
- **Respondents:** DSS Healthcare…; Registrar of…
- **Advocates:** Shashank…; Jyoti Kh…

## Timeline

- **2005-03-18 — Incorporation of DSS…**: DSS Healthcare Private Limited was…
- **2021-04-09 — Board Resolution for…**: The Board of Directors approved the resolution for voluntary liquidation of the Applicant…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/dss-healthcare-private-limited-066e61af