# In the matter of TRS-Rentelco India Private Limited

> NCLT judgment dated 2025-02-25. Citation: TCN-2025-NCLT-00438. The case pertains to a Company Petition filed by TRS-Rentelco India Private Limited,…

- **Court:** NCLT
- **Order date:** 25 Feb 2025
- **Citation:** TCN-2025-NCLT-00438
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/trs-rentelco-india-private-limited-62b48227

## Summary

### Background

The case pertains to a Company Petition filed by TRS-Rentelco India Private Limited, represented by its Liquidator Mr. Vasudevan Gopu, under sub-section (7) of Section 59 of the Insolvency and Bankruptcy Code, 2016, seeking dissolution of the company. The company was incorporated on 22.03.2013. The Board of Directors decided to voluntarily liquidate the company on 17.02.2023 and executed a Declaration of Solvency. The company passed a resolution to liquidate voluntarily on 13.03.2023 and appointed Mr. Vasudevan Gopu as the Liquidator. The commencement of liquidation and appointment of liquidator was intimated to the ROC and IBBI. The liquidator made a Public Announcement of commencement of liquidation. The liquidator submitted the preliminary report to the Company on

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## Facts

TRS-Rentelco India Private Limited filed a Company Petition seeking dissolution under Section 59 of the Insolvency and Bankruptcy Code, 2016. The company was incorporated on 22.03.2013. The Board of Directors decided to voluntarily liquidate the company on 17.02.2023 and executed a Declaration of Solvency. The company passed a resolution to liquidate voluntarily on 13.03.2023 and appointed Mr. Vasudevan Gopu as the Liquidator. The commencement of liquidation and appointment of liquidator was intimated to the ROC and IBBI. A public announcement was made. The last date for submission of claims was 12.04.2023, but no claims were received. The liquidator submitted the preliminary report to the Company on 26.04.2023. The liquidator opened a separate Bank Account. The

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## Issues and analysis

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

**Ratio:** Section 59(8) of the IBC, 2016, empowers the Adjudicating Authority to pass an order for

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**Reasoning:** The court examined the submissions made by the Ld. Counsel for the Applicant and perused

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**Interpretation:** Section 59(8) provides the legal basis for the Adjudicating Authority to

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**Application:** Based on the evidence presented, the court determined that the affairs of

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## Parties

- **Judges:** K. Bi…; RAVICHANDRAN…
- **Respondents:** TRS-Rentelco…

## Timeline

- **2013-03-22 — Company Incor…**: TRS-Rentelco India Private…
- **2023-02-17 — Board Decision to…**: The Board of Directors decided to voluntarily liquidate the Company and executed a…

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