# In the matter of Fekari Infrastructure Private Limited

> NCLT judgment dated 2024-08-28. Citation: TCN-2024-NCLT-00745. The case pertains to a Company Petition filed under Section 59(7) of the Insolvency and…

- **Court:** NCLT
- **Order date:** 28 Aug 2024
- **Citation:** TCN-2024-NCLT-00745
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/fekari-infrastructure-private-limited-e5112db6

## Summary

### Background

The case pertains to a Company Petition filed under Section 59(7) of the Insolvency and Bankruptcy Code, 2016, by Fekari Infrastructure Private Limited through its liquidator, Mr. Raghunath Bhandari, for dissolution via voluntary liquidation. The company aimed to wind up voluntarily under Section 59 of the Code, having completed the necessary liquidation formalities. The petition was filed for dissolution under Section 59(7) of the Code.

## Facts

Fekari Infrastructure Private Limited filed a Company Petition under Section 59(7) of the Insolvency and Bankruptcy Code, 2016, for voluntary liquidation. The company was incorporated on 2006-08-05 under the Companies Act, 1956. Its main objective was to construct and manage a railway Over Bridge project. The company had no significant business operations or future projects and decided to voluntarily liquidate. The directors confirmed the company's solvency in December 2023. Raghunath Bhandari was appointed as the liquidator. A special resolution for voluntary liquidation was passed on 2023-12-16. The liquidator made a public announcement for claims and notified relevant authorities. No claims were received. The liquidator submitted a final report on 2024-03-15,

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## Issues and analysis

### Issue 1: Whether the petition for dissolution of Fekari Infrastructure Private Limited under Section 59(7) …

**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 complied with the necessary procedures under

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

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

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## Parties

- **Judges:** Reeta K…; Madhu S…
- **Respondents:** Fekari Infrastruct…

## Timeline

- **2006-08-05 — Company Incor…**: Fekari Infrastructure Private Limited was…
- **2023-12-14 — Declaration of…**: Directors verified and confirmed via affidavit along with Declaration of Solvency (“DOS”)…

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