# In the matter of Indo Austrian Business Forum

> NCLT judgment dated 2025-05-16. Citation: TCN-2025-NCLT-00964. The case pertains to an application filed by the Liquidator of Indo Austrian Business Forum…

- **Court:** NCLT
- **Order date:** 16 May 2025
- **Citation:** TCN-2025-NCLT-00964
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/indo-austrian-business-forum-62cd61ee

## Summary

### Background

The case pertains to an application filed by the Liquidator of Indo Austrian Business Forum under Section 59 of the Insolvency & Bankruptcy Code, 2016, seeking an order for the dissolution of the company.

## Facts

Indo Austrian Business Forum was incorporated on 21.09.2001 under the Companies Act, 1956.

The company's objective was to promote and develop Indo-Austrian business, trade, and travel.

The Board of Directors passed a resolution on 30.07.2024 to opt for voluntary liquidation due to the lack of significant business operations and future plans.

A special resolution was passed on 20.08.2024 for the voluntary liquidation, and Mr. Hardev Singh was appointed as the Liquidator.

The Liquidator made a public announcement in Form A in newspapers on 22.08.2024.

The Liquidator prepared a preliminary report on 03.10.2024.

The liquidation process was completed on 25.11.2024.

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## Issues and analysis

### Issue 1: Whether the application for dissolution of the company under Section 59 of the Insolvency & …

**Ratio:** Section 59(8) of the

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**Reasoning:** The Adjudicating Authority considered the submissions and documents presented, noting

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**Interpretation:** The Adjudicating Authority interpreted Section 59 of the IBC to allow for the

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**Application:** The Adjudicating Authority applied Section 59(8) of the Insolvency and

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## Parties

- **Judges:** MAHENDRA KHANDELWA…; SUBRATA KUM…
- **Respondents:** Indo Austrian…; Registrar of…
- **Other parties:** Hardev…
- **Advocates:** Kunal J…; Niti Kh…

## Timeline

- **2001-09-21 — Incorpor…**: Indo Austrian Business…
- **2024-07-30 — Board Reso…**: Board of Directors passed a resolution…

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