# In the matter of Eight Constructions Private Limited

> NCLT judgment dated 2024-03-07. Citation: TCN-2024-NCLT-02164. The case pertains to a Company Petition filed by the Liquidator in relation to the voluntary…

- **Court:** NCLT
- **Order date:** 7 Mar 2024
- **Citation:** TCN-2024-NCLT-02164
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/eight-constructions-private-limited-d2781b1a

## Summary

### Background

The case pertains to a Company Petition filed by the Liquidator in relation to the voluntary liquidation of M/s. Eight Constructions Private Limited. The company was originally incorporated on 08.02.2007. The company initiated voluntary liquidation due to having no significant business operations since 31.03.2020 and no revival plan worked out. The Extraordinary General Meeting of the Shareholders took place on 29.06.2023 and passed a special resolution to appoint the Applicant as a liquidator.

## Facts

M/s. Eight Constructions Private Limited initiated voluntary liquidation proceedings. The company was incorporated on 08.02.2007. The company's main object is construction and development. The company had no significant business operations since 31.03.2020. A Board meeting was held to consider voluntary liquidation. The Extraordinary General Meeting of the Shareholders took place on 29.06.2023 and passed a special resolution to appoint the Applicant as a liquidator. The company has settled all its creditors. The Liquidator received 1 claim from the Income Tax Department, apart from the equity shareholders named in the company books during the process of liquidation and same was rejected. The Liquidator distributed the funds among the stakeholders as per the provisions

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## Issues and analysis

### Issue 1: Whether the affairs of the Company have been completely wound up and the assets of the Applicant …

**Ratio:** The ratio is based on the examination of submissions and documents annexed to the

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**Reasoning:** The court examined the submissions made by the Learned Counsel for the Applicant and

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**Interpretation:** The interpretation involves assessing whether the evidence presented

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**Application:** The court applied this ratio to the specific facts of the case, noting that the

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## Parties

- **Judges:** JYOTI KUMAR…; RAVICHANDRAN…
- **Appellants:** Shanmugakani…
- **Respondents:** Eight Construction…

## Timeline

- **2007-02-08 — Incorporation o…**: The Applicant Company was…
- **2020-03-31 — Cessation of Business…**: Company has no significant…

## 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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