# In the matter of NBCC Environment Engineering Limited

> NCLT judgment dated 2023-09-15. Citation: TCN-2023-NCLT-01602. The case pertains to an application filed under Section 59 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 15 Sept 2023
- **Citation:** TCN-2023-NCLT-01602
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/nbcc-environment-engineering-limited-64a699e5

## Summary

### Background

The case pertains to an application filed under Section 59 of the Insolvency and Bankruptcy Code, 2016, read with Rule 9 of the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017, by Mrs. Monika Agarwal, the liquidator of NBCC Environment Engineering Limited, seeking the dissolution of the company. The company initiated voluntary liquidation, complying with the necessary regulatory requirements, including declarations of solvency, public announcements, and communication with relevant authorities such as the Registrar of Companies and the IBBI.

## Facts

NBCC Environment Engineering Limited (CIN No. U90009DL2017GO1320411) initiated voluntary liquidation under Section 59 of the Insolvency and Bankruptcy Code, 2016. Mrs. Monika Agarwal was appointed as the liquidator. The company's main object was to provide construction, repair, and consultancy services for solid liquid waste management systems. The authorized share capital was Rs. 2,00,00,000, and the paid-up capital was Rs. 1,00,00,000. The company complied with Section 59(3)(a) of the Code by filing a declaration signed by the Board of Directors, stating that a full enquiry into the affairs of the company had been made and the company had no debts. The Board of Directors convened an Extra-Ordinary General Meeting on 26.09.2022 to pass a special resolution to

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## Issues and analysis

### Issue 1: Whether the Petitioner Company …

**Ratio:** A company undergoing voluntary liquidation must demonstrate compliance with tax

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**Reasoning:** The Liquidator submitted an affidavit stating that the petitioner company is tax

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**Interpretation:** Tax compliance is a prerequisite for voluntary liquidation to ensure that the

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**Application:** The Liquidator's submission of the affidavit and ITR copies demonstrated that

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## Parties

- **Judges:** P.S.N. P…; BINOD KUMAR…
- **Appellants:** NBCC Environment…
- **Respondents:** NBCC Environment…; ROC…

## Timeline

- **2016-01-01 — Enactment…**: The Insolvency and…
- **2017-01-01 — Voluntary Liquidation…**: The Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations,…

## 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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