# In the matter of Solar Om Global Services India Private Limited

> NCLT judgment dated 2024-07-11. Citation: TCN-2024-NCLT-01029. This is a Company Petition filed under Section 59 of the Insolvency and Bankruptcy Code, 2016,…

- **Court:** NCLT
- **Order date:** 11 Jul 2024
- **Citation:** TCN-2024-NCLT-01029
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/solar-om-global-services-india-private-limited-1035c19a

## Summary

### Background

This is a Company Petition filed under Section 59 of the Insolvency and Bankruptcy Code, 2016, by Solar Om Global Services India Private Limited through its liquidator, Mr. Manojit Sengupta, seeking dissolution following voluntary liquidation. The company complied with all necessary formalities and procedures for liquidation as per law.

## Facts

Solar Om Global Services India Private Limited filed a petition under Section 59 of the Insolvency and Bankruptcy Code, 2016, for voluntary liquidation. The company was incorporated on 01.10.2019. The company stopped its operations in the financial year 2022-2023 due to a lack of new business opportunities. The Board of Directors passed resolutions on 23.01.2023 to voluntarily liquidate the company. The directors declared that the company had no debts and was not being liquidated to defraud anyone. The members passed a special resolution on 30.01.2023 to liquidate the company and appointed Mr. Manojit Sengupta as the liquidator. The liquidator submitted a preliminary report on 02.03.2023 and made a public announcement inviting claims. No claims were received from

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## Issues and analysis

### Issue 1: Whether the Corporate Person has complied with requisite formalities and procedure of liquidation …

**Ratio:** Section 59 of the Insolvency and Bankruptcy Code, 2016, outlines the procedure for

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**Reasoning:** The court examined the steps taken by the Corporate Person, including the appointment of

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**Interpretation:** Section 59 is interpreted to ensure that the voluntary liquidation process is

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**Application:** The Corporate Person demonstrated compliance by appointing a liquidator, making

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## Parties

- **Judges:** ANIL RAJ C…; Kuldip Kumar…
- **Respondents:** Solar Om Global…

## Timeline

- **2019-10-01 — Company Incor…**: Solar Om Global Services India…
- **2023-01-23 — Board Reso…**: The Board of Directors resolved to…

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