# M/s. Kundan Jewellers & Exporters Private Limited vs. The RoC, Telangana

> NCLT judgment dated 2026-09-23. Citation: TCN-2026-NCLT-01181. M/s. Kundan Jewellers & Exporters Private Limited, a company incorporated in 2024 for jewellery…

- **Court:** NCLT
- **Order date:** 23 Sept 2026
- **Citation:** TCN-2026-NCLT-01181
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-hyderabad/kundan-jewellers-exporters-private-limited-it3yp

## Summary

### Background

M/s. Kundan Jewellers & Exporters Private Limited, a company incorporated in 2024 for jewellery business, never commenced commercial operations and had no debts or liabilities. The Board of Directors and shareholders approved its voluntary liquidation under Section 59 of the IBC, 2016, and appointed Mr. Manjeet Bucha as the Liquidator. The petition was filed seeking dissolution of the Corporate Person.

## Facts

The Petition was filed under Section 59 of the Insolvency and Bankruptcy Code, 2016, read with Regulation 9 of the IBBI (Voluntary Liquidation Process) Regulations, 2017.

M/s. Kundan Jewellers & Exporters Private Limited (the Corporate Person) was incorporated on 14.03.2024 under the Companies Act, 2013, with its registered office in Hyderabad, Telangana.

The Corporate Person's authorized, issued, subscribed, and paid-up share capital is Rs.50,00,000/-.

The shareholders are Satish Kumar Agarwal (52%) and Radhika Agarwal (48%).

The company was incorporated for manufacturing, trading, and exporting jewellery but remained at a nascent stage and did not commence commercial operations.

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## Issues and analysis

### Issue 1: Whether the voluntary liquidation process of Kundan Jewellers & Exporters Private Limited was …

**Ratio:** The NCLT found that the Liquidator had complied with all statutory requirements for

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**Reasoning:** The Corporate Person's affairs were completely wound up, its assets liquidated, and no

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**Interpretation:** Compliance with Section 59 of the IBC and the IBBI (Voluntary Liquidation

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**Application:** The Liquidator's actions, including the Declaration of Solvency, shareholder

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## Parties

- **Judges:** SHRI. RAJEEV…; SHRI. SANJA…
- **Appellants:** M/s. Kundan…
- **Respondents:** Kundan Jewellers…; The RoC, Te…
- **Other parties:** Manjeet…
- **Advocates:** Prem Pr…

## Timeline

- **2024-03-14 — Incorporation of…**: Kundan Jewellers & Exporters Private Limited was incorporated under the provisions of the…
- **2025-01-22 — Board Approval for…**: The Board of Directors approved the proposal for voluntary liquidation and executed a…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 59 — Voluntary liquidation of corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-59)

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