# In the matter of Three Info Systems Private Limited

> NCLT judgment dated 2023-10-11. Citation: TCN-2023-NCLT-01310. The case pertains to a Company Petition filed under Section 59 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 11 Oct 2023
- **Citation:** TCN-2023-NCLT-01310
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/three-info-systems-private-limited-664f46ae

## Summary

### Background

The case pertains to a Company Petition filed under Section 59 of the Insolvency and Bankruptcy Code, 2016, by Three Info Systems Private Limited, a corporate person, through its liquidator, Mr. Sekar Ananthanarayan, to initiate voluntary liquidation proceedings and dissolve the company. The company was incorporated on 15.11.2002. The directors declared that the company has no debts and is not being liquidated to defraud any person. The members passed a special resolution on 03.07.2018 to liquidate the company and appoint the liquidator. The liquidator made a public announcement on 03.07.2018 inviting claims. The petitioner submitted the resolution for commencement of liquidation to the Registrar of Companies on 20.07.2018.

## Facts

Three Info Systems Private Limited filed a petition for voluntary liquidation under Section 59 of the Insolvency and Bankruptcy Code, 2016. The company was incorporated on 15.11.2002. Its authorized and paid-up share capital is Rs. 12,00,000/-. The company's directors, Mr. Christopher John Sanderson, Mr. Edith Shih, and Mr. Sanjay Jagdish Luthra, declared that the company has no debts and is not being liquidated to defraud anyone. The Board of Directors resolved to voluntarily liquidate the company on 19.06.2018. A special resolution was passed on 03.07.2018 to liquidate the company and appoint Mr. Sekar Ananthanarayan as the liquidator. The liquidator made a public announcement on 03.07.2018 inviting claims, but no claims were received. The liquidator submitted a

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## Issues and analysis

### Issue 1: Whether the company's affairs have been completely wound up and its assets completely liquidated as …

**Ratio:** Section 59(7) of the IBC allows the NCLT to pass an order for dissolution of the

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**Reasoning:** The NCLT examined the submissions made by the counsel appearing for the petitioner and

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**Interpretation:** Section 59(7) requires the NCLT to ensure that all affairs of the company are

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**Application:** In this case, the NCLT found that the company's affairs were completely wound

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## Parties

- **Judges:** Prabhat…; V.G. B…
- **Respondents:** Three Info…

## Timeline

- **2002-11-15 — Company Incor…**: Three Info Systems Private Limited was incorporated as a private company limited by…
- **2018-06-19 — Board Resolution for…**: The Board of Directors resolved to…

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