# In the matter of MakeMyTrip Travel Services Private Limited

> NCLT judgment dated 2023-08-01. Citation: TCN-2023-NCLT-02229. The case pertains to the voluntary liquidation of MakeMyTrip Travel Services Private Limited…

- **Court:** NCLT
- **Order date:** 1 Aug 2023
- **Citation:** TCN-2023-NCLT-02229
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/makemytrip-travel-services-private-limited-e0e6620c

## Summary

### Background

The case pertains to the voluntary liquidation of MakeMyTrip Travel Services Private Limited under Section 59(7) of the Insolvency and Bankruptcy Code (IBC), 2016, read with the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017. The application was filed by the Applicant/Voluntary Liquidator, Mr. Jiwan Parkash Saini, seeking dissolution of the company. The voluntary liquidation process commenced following a special resolution passed by the company's members in an Extraordinary General Meeting (EOGM) held on September 28, 2017. The company was incorporated on December 24, 2014.

## Facts

MakeMyTrip Travel Services Private Limited (the 'Company') initiated voluntary liquidation under Section 59(7) of the IBC, 2016. The company was incorporated on December 24, 2014. A special resolution was passed in an Extraordinary General Meeting (EOGM) on September 28, 2017, to commence the voluntary liquidation. Mr. Jiwan Parkash Saini was appointed as the liquidator. The directors provided a Declaration of Solvency, stating the company could pay its debts in full. The company filed the Special Resolution and Declarations of Solvency with the ROC on October 10, 2017. Public announcements were made in the 'Business Standard' and 'Aajkal' newspapers on October 2, 2017. The IBBI was notified of the liquidation process on November 14, 2017. The liquidator submitted a

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## Issues and analysis

### Issue 1: Whether the Applicant/Voluntary Liquidator has complied with the provisions of the Insolvency and …

**Ratio:** Regulation 37(1) of the Voluntary Liquidation Regulation, 2017 specifies that the

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**Reasoning:** The court considered the ROC's objection that the liquidation process was not completed

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**Interpretation:** The regulations require the liquidator to make efforts to complete the

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**Application:** The court found that the liquidator had taken steps to comply with the

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## Parties

- **Judges:** Sh. Ashok Kumar…; L. N. G…
- **Appellants:** Jiwan Parkash…
- **Respondents:** MakeMyTrip Travel…

## Timeline

- **2014-12-24 — Company Incor…**: MakeMyTrip Travel Services…
- **2017-09-28 — EOGM and Special…**: Extraordinary General Meeting (EOGM) held, and a special resolution was passed to…

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