# In the matter of Uber Techlabs Private Limited

> NCLT judgment dated 2023-10-31. Citation: TCN-2023-NCLT-00948. The case pertains to a Company Petition filed under Section 59 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 31 Oct 2023
- **Citation:** TCN-2023-NCLT-00948
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/uber-techlabs-private-limited-1ed34144

## 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. Uber Techlabs Private Limited. The company, incorporated on 25/10/2015, was engaged in providing consultancy services in the field of Information Technology. The Board of Directors recommended voluntary liquidation on 29th September 2022, and a declaration of solvency was made on 25.10.2022. The shareholders passed a special resolution on 26.10.2022 to liquidate the company and appointed Mr. Kondisetty Kumar Dushyantha as the liquidator.

## Facts

M/s. Uber Techlabs Private Limited, CIN U72300TG2015PTC101334, incorporated on 25/10/2015, sought voluntary liquidation under Section 59 of the Insolvency and Bankruptcy Code, 2016. The company, previously engaged in providing IT consultancy services, had ceased commercial activities two years prior. The Board of Directors recommended voluntary liquidation on 29th September 2022, followed by a declaration of solvency on 25th October 2022. A special resolution was passed by shareholders on 26th October 2022, appointing Mr. Kondisetty Kumar Dushyantha as liquidator. Public announcements were made on 28th October 2022, inviting stakeholder claims. The liquidator intimated relevant authorities, including the RBI and GST Commissioner. The company had four unsecured

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## Issues and analysis

### Issue 1: Whether the voluntary liquidation process initiated by M/s. Uber Techlabs Private Limited is in …

**Ratio:** Section 59 of the Insolvency and Bankruptcy Code, 2016, read with the IBBI (Voluntary

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**Reasoning:** The Tribunal examined the records and found that the liquidator had made public

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**Interpretation:** Section 59 and the associated regulations are interpreted to ensure a

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**Application:** In this case, the liquidator's actions, including public announcements,

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## Parties

- **Judges:** Venkata Ramakrishn…; SH. CHARAN…
- **Respondents:** Uber Techlabs…; ROC, Hyderabad,…

## Timeline

- **2015-10-25 — Company Incor…**: M/s. Uber Techlabs Private…
- **2022-09-29 — Board Recomme…**: The Board of Directors…

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