# In the matter of Uber Techlabs Private Limited

> NCLT judgment dated 2023-10-31. Citation: TCN-2023-NCLT-00972. 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-00972
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/uber-techlabs-private-limited-3815c98b

## 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. However, it ceased commercial activities two years prior to the petition. 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, with CIN U72300TG2015PTC101334, was incorporated on 25/10/2015 under the Companies Act, 1956. The company's registered office is located in Hyderabad. The company was engaged in providing consultancy services in the field of Information Technology. However, the company ceased commercial activities two years prior to the petition. 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. Public announcements were made on 28.10.2022 in “Times of India” and “Sakshi Telangana” newspapers. The liquidator intimated

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## Issues and analysis

### Issue 1: Whether the voluntary liquidation process of M/s. Uber Techlabs Private Limited was conducted 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 of the IBC and the IBBI Regulations are interpreted to require

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**Application:** In this case, the Tribunal found that the liquidator had complied with all the

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## Parties

- **Judges:** Venkata Ramakrishn…; SH. CHARAN…
- **Appellants:** M/s. Uber…
- **Respondents:** Uber Techlabs…; ROC, Hyderabad,…
- **Advocates:** R. Ramakr…; S.V.…

## Timeline

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

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