# Theta Greek Securities Private Limited (Member's Voluntary Liquidation) vs. N/A

> NCLT judgment dated 24 Apr 2026. Citation: TCN-2026-NCLT-00410. Theta Greek Securities Private Limited (the Company) filed a petition for voluntary…

- **Court:** NCLT
- **Order date:** 24 Apr 2026
- **Citation:** TCN-2026-NCLT-00410
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/theta-greek-securities-private-limited-members-voluntary-liquidation-noup0

## Summary

### Background

Theta Greek Securities Private Limited (the Company) filed a petition for voluntary dissolution under Section 59 of the IBC, 2016, through its Liquidator, Shyam Sundar Maheshwari, asserting it ceased all business activities for two financial years. The Company, incorporated on 05.07.2022, had its directors confirm solvency and the absence of any outstanding debts or liabilities.

## Facts

Theta Greek Securities Private Limited (the Company) filed a petition for dissolution under Section 59 of the IBC, 2016.

The Company ceased all activity in line with its objectives for the last two financial years.

The Company was incorporated as a Private Company on 05.07.2022 under the Companies Act, 2013.

The Company's CIN is U65990RJ2022PTC082414.

Mr. Jitendra Kumar Sharma and Mr. Radha Raman Gupta were directors of the Company on the date of commencement of liquidation.

The directors filed affidavits on 07.08.2025 declaring solvency and that the Company had no debt/liabilities.

The Board of Directors approved the proposal for voluntary liquidation on 07.08.2025.

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## Issues and analysis

### Issue 1: Whether Theta Greek Securities Private Limited has complied with all necessary provisions of …

**Ratio:** For voluntary liquidation and dissolution under Section 59 of the IBC, 2016, a corporate

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**Reasoning:** The court noted that the directors filed affidavits of solvency, an EGM passed a special

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**Interpretation:** Section 59 and IBBI Regulations outline a comprehensive framework for voluntary

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**Application:** The Company, through its Liquidator, precisely followed the procedural steps.

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## Parties

- **Judges:** Reeta K…; Kavita Bha…
- **Appellants:** Theta Greek…
- **Other parties:** Voluntary…; Corporate…; +4 more

## Timeline

- **2022-07-05 — Company Incor…**: Theta Greek Securities Private Limited was incorporated as a Private Company under the…
- **2025-08-07 — Board Me…**: The Board of Directors of the Company conducted a meeting and approved the proposal for…

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