# In the matter of Hashmap Tech India Private Limited

> NCLT judgment dated 2025-03-04. Citation: TCN-2025-NCLT-00409. The case pertains to the voluntary liquidation of M/s. Hashmap Tech India Pvt. Ltd. under…

- **Court:** NCLT
- **Order date:** 4 Mar 2025
- **Citation:** TCN-2025-NCLT-00409
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/hashmap-tech-india-private-limited-450625e5

## Summary

### Background

The case pertains to the voluntary liquidation of M/s. Hashmap Tech India Pvt. Ltd. under Section 59 of the Insolvency and Bankruptcy Code, 2016. The company, incorporated on 01.01.2016, decided to wind up its affairs under the Members' Voluntary Liquidation process. Mr. Vasudevan Gopu was appointed as the Liquidator. The company declared its solvency and initiated the liquidation process, including public announcements and intimation to relevant authorities like the Registrar of Companies (ROC) and the Insolvency and Bankruptcy Board of India (IBBI). The liquidator has submitted the final report after auditing the accounts for the liquidation period.

## Facts

M/s. Hashmap Tech India Pvt. Ltd. was incorporated on 01.01.2016. The company's Board of Directors decided on 22.05.2023 to wind up the company under the Members' Voluntary Liquidation process and executed a Declaration of Solvency. Mr. Vasudevan Gopu was appointed as the Liquidator. The company passed a Special Resolution to liquidate voluntarily on 12.06.2023. The commencement of liquidation was intimated to the Registrar of Companies and the IBBI. Public announcements were made as per Regulation 14 of the IBBI (Voluntary Liquidation Process) Regulations, 2017. The ESIC Sub-Regional Office, Jalandhar, submitted a claim of Rs. 4,772/-, but the EPFO authorities issued a “No Dues Letter” on 06.03.2024. The Liquidator submitted the preliminary report to the Applicant

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## Issues and analysis

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

**Ratio:** Section 59(8) of the IBC, 2016, empowers the Adjudicating Authority to pass an order for

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**Reasoning:** The court examined the submissions made by the Liquidator and perused the documents

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**Interpretation:** Section 59 of the IBC, 2016, provides the framework for voluntary liquidation

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**Application:** Based on the evidence presented, the court applied Section 59(8) of the IBC,

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## Parties

- **Judges:** K. Bi…; RAVICHANDRAN…
- **Respondents:** M/s. Hashmap Tech…
- **Advocates:** Vasudevan…

## Timeline

- **2016-01-01 — Company Incor…**: M/s. Hashmap Tech India…
- **2023-05-22 — Board Dec…**: The Board of Directors decided to wind up the company under the Members' Voluntary…

## 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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