# In the matter of Tenshi KSM Private Limited

> NCLT judgment dated 2023-12-07. Citation: TCN-2023-NCLT-00362. The case pertains to a Company Petition filed by Tenshi KSM Private Limited, represented by its…

- **Court:** NCLT
- **Order date:** 7 Dec 2023
- **Citation:** TCN-2023-NCLT-00362
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/tenshi-ksm-private-limited-ad074cf3

## Summary

### Background

The case pertains to a Company Petition filed by Tenshi KSM Private Limited, represented by its Liquidator, Mrs. Devika Sathyanarayana, under Section 59(7) of the Insolvency and Bankruptcy Code, 2016, seeking a direction for the dissolution of the company. The company was incorporated on 21.02.2019. The Board of Directors decided to wind up the affairs of the company by voluntary liquidation in a meeting held on 06.09.2022, after taking note of the Declaration of Solvency. The company passed a resolution to liquidate voluntarily on 12.09.2022 and appointed Mrs. Devika Sathyanarayana as the Liquidator. The commencement of liquidation was intimated to the ROC and IBBI. The liquidator made a public announcement on 13.09.2022. The liquidator submitted the preliminary

…

## Facts

Tenshi KSM Private Limited was incorporated on 21.02.2019. The company's authorized share capital is Rs.1,00,00,000/-. The Board of Directors decided to wind up the company by voluntary liquidation on 06.09.2022, based on a Declaration of Solvency. The company passed a resolution for voluntary liquidation on 12.09.2022, appointing Mrs. Devika Sathyanarayana as Liquidator. Public announcement of the liquidation was made on 13.09.2022. The liquidator submitted a preliminary report on 20.10.2022 and a final report on 26.11.2022. The bank account was closed on 24.01.2023. The final report of the liquidating company was submitted with ROC and IBBI on 27.11.2022. The liquidator filed receipts and payment accounts issued by a Chartered Accountant. The company had no creditors

…

## Issues and analysis

### Issue 1: Whether the affairs of the Corporate Person have been completely wound up and its assets have been …

**Ratio:** Section 59 of the IBC, 2016 read with Regulation 37(2) of the IBBI (Voluntary Liquidation

…

**Reasoning:** The court reasoned that based on the records and the liquidator's report, the affairs of

…

**Interpretation:** The interpretation is that compliance with Section 59 and Regulation 37(2)

…

**Application:** The ratio and reasoning were applied to the facts of the case, where the

…

## Parties

- **Judges:** T. Krishn…; Manoj Kumar…
- **Respondents:** Tenshi KSM…

## Timeline

- **2019-02-21 — Incorporation o…**: Tenshi KSM Private…
- **2022-09-06 — Board Me…**: Board of Directors decided to wind up…

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/tenshi-ksm-private-limited-ad074cf3