# In the matter of Rreconstructive Surgery India

> NCLT judgment dated 2024-07-29. Citation: TCN-2024-NCLT-00934. The case pertains to a Company Petition filed under Section 59 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 29 Jul 2024
- **Citation:** TCN-2024-NCLT-00934
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/rreconstructive-surgery-india-dc7722fe

## Summary

### Background

The case pertains to a Company Petition filed under Section 59 of the Insolvency and Bankruptcy Code, 2016, seeking voluntary liquidation of M/s Reconstructive Surgery India. The company was incorporated under the Companies Act, 1956, and later, the directors declared their intention for voluntary liquidation. The Board of Directors passed a resolution for voluntary liquidation as they failed to obtain necessary approval under the Foreign Contribution Regulation Act, hindering their ability to raise foreign funds. Shareholders then passed a special resolution to liquidate the company and appointed Mr. Shailesh Baheti as the liquidator. The liquidator issued public announcements, and no claims were received from stakeholders. The outstanding amount to the creditors was

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## Facts

M/s Reconstructive Surgery India, a company incorporated under the Companies Act, 1956, sought voluntary liquidation under Section 59 of the Insolvency and Bankruptcy Code, 2016. The company's directors declared their intention for voluntary liquidation, citing their inability to obtain approval under the Foreign Contribution Regulation Act. The shareholders passed a special resolution to liquidate the company and appointed Mr. Shailesh Baheti as the liquidator. The liquidator issued public announcements, and no claims were received from stakeholders. All outstanding amounts to creditors were paid in full. The Registrar of Companies (Telangana) raised objections regarding compliance with Section 8 of the Companies Act, 2013, which pertains to companies with charitable

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## Issues and analysis

### Issue 1: Whether Section 8(6) of the Companies Act, 2013 is applicable to the present petition for voluntary …

**Ratio:** Section 8(6) of the Companies Act, 2013, pertains to the revocation of a license granted

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**Reasoning:** The court reasoned that the present petition is for voluntary winding up under Section 59

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**Interpretation:** The court interpreted Section 8(6) of the Companies Act, 2013, as being

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**Application:** The court applied this interpretation to the facts of the case, noting that the

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## Parties

- **Judges:** Venkata Ramakrishn…; SH. CHARAN…
- **Appellants:** Sailesh B…
- **Respondents:** M/s Reconstructive…; Registrar of…

## Timeline

- **1987-05-28 — Company Incor…**: M/s Reconstructive Surgery India was…
- **2023-09-20 — Declaration by…**: All the Directors of the Corporate person made a declaration under Section 59(3)(a) of…

## 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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