# In the matter of Homebell Software India Private Limited

> NCLT judgment dated 2023-10-20. Citation: TCN-2023-NCLT-01086. The application was filed under Section 59(7) of the Insolvency and Bankruptcy Code, 2016, read…

- **Court:** NCLT
- **Order date:** 20 Oct 2023
- **Citation:** TCN-2023-NCLT-01086
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/homebell-software-india-private-limited-6db90613

## Summary

### Background

The application was filed under Section 59(7) of the Insolvency and Bankruptcy Code, 2016, read with the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017, seeking dissolution of the Corporate Person/Applicant.

## Facts

M/s. Homebell Software India Private Limited, incorporated on August 3, 2016, under the Companies Act, 2013 , was engaged in software designing, development, customization, implementation, maintenance, testing, and benchmarking. The company's Board of Directors passed a resolution on November 27, 2019, to initiate voluntary liquidation, filing MGT-14 on December 3, 2019. The Board also submitted a declaration, supported by affidavits from two directors, confirming no debt and that the liquidation was not intended to defraud any person. An Extra-ordinary General Meeting was held on December 20, 2019, where a resolution for voluntary winding up and the appointment of Mr. Ashish Porwal as Liquidator was passed. The Liquidation Commencement Date was December 20, 2019, and

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## Issues and analysis

### Issue 1: Whether the applicant company should be dissolved under Section 59(7) of the Insolvency and …

**Ratio:** The NCLT held that since the liquidator had duly performed all duties, completed

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**Reasoning:** The NCLT considered the liquidator's compliance with all statutory provisions, including

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**Interpretation:** The NCLT interpreted Section 59(7) of the IBC, 2016, and the relevant

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**Application:** The NCLT applied this interpretation by noting that the liquidator had

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## Parties

- **Judges:** P.S.N. P…; BINOD KUMAR…
- **Appellants:** Homebell Software…
- **Respondents:** Homebell Software…; Registrar of…
- **Advocates:** For the Applicant:…

## Timeline

- **August 3, 2016 — Incorpor…**: M/s. Homebell Software India…
- **November 27, 2019 — Board Resolution for…**: The Board of Directors passed a…

## 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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