# In the matter of Vidyasagar Learning Private Limited

> NCLT judgment dated 2025-06-12. Citation: TCN-2025-NCLT-00897. India Printing Works initiated insolvency proceedings against Vidhyasagar Learning Pvt Ltd…

- **Court:** NCLT
- **Order date:** 12 Jun 2025
- **Citation:** TCN-2025-NCLT-00897
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/vidyasagar-learning-private-limited-687a8728

## Summary

### Background

India Printing Works initiated insolvency proceedings against Vidhyasagar Learning Pvt Ltd under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on 22.10.2019. As no resolution plan was received, liquidation was initiated on 28.09.2022, and Mr. Anish Gupta was appointed as the liquidator.

## Facts

India Printing Works initiated insolvency proceedings against Vidhyasagar Learning Pvt Ltd under Section 9 of the IBC.

The Corporate Debtor was admitted into CIRP on 22.10.2019.

Liquidation was initiated on 28.09.2022, and Mr. Anish Gupta was appointed as the liquidator.

The liquidator filed an application (I.A. 17/2025) seeking dissolution of the Corporate Debtor and condonation of delay.

The liquidation process faced delays due to issues with Saraswat Bank and ARCIL.

The sale of assets was concluded on 29.06.2023.

The Adjudicating Authority ordered the dissolution of the Corporate Debtor and discharged the liquidator.

## Issues and analysis

### Issue 1: Whether the application for dissolution of …

**Ratio:** Section 54 of the Insolvency and Bankruptcy Code, 2016 allows for the dissolution of a

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**Reasoning:** The Adjudicating Authority was satisfied that there were no further assets of the

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**Interpretation:** The provision allows for the orderly closure of a Corporate Debtor after all

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**Application:** The Adjudicating Authority applied Section 54 and ordered the dissolution of

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## Parties

- **Judges:** Sushil Mahadeorao…; Charanjeet Singh…
- **Appellants:** India Printing…; Anish G…
- **Respondents:** Vidyasagar…; Vidhyasagar…
- **Other parties:** Saraswat Co-Op…; Asset Reconstructi…; +6 more
- **Advocates:** Mily Gh…

## Timeline

- **2019-10-22 — Admission in…**: The Corporate Debtor was admitted into…
- **2022-09-28 — Initiation of…**: Liquidation of the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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