# In the matter of Skyline Associates Private Limited

> NCLT judgment dated 2025-07-08. Citation: TCN-2025-NCLT-01166. The application was filed by the Liquidator, Mr. Shashi Bhushan Prasad, on behalf of M/s.…

- **Court:** NCLT
- **Order date:** 8 Jul 2025
- **Citation:** TCN-2025-NCLT-01166
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/skyline-associates-private-limited-23e7e3a3

## Summary

### Background

The application was filed by the Liquidator, Mr. Shashi Bhushan Prasad, on behalf of M/s. Skyline Associates Private Limited under Section 59 of the Insolvency & Bankruptcy Code, 2016, seeking voluntary liquidation.

## Facts

Skyline Associates Private Limited was incorporated on 29.08.1986.

The company filed for voluntary liquidation under Section 59 of the Insolvency & Bankruptcy Code, 2016.

A special resolution for voluntary winding up and appointment of Shashi Bhushan Prasad as Liquidator was passed on 26.07.2024.

Public announcement was made on 30.07.2024 inviting claims from stakeholders.

No claims were received from operational creditors and employees.

The Liquidator prepared a final report stating that the Corporate Person has no assets and owes no debt to creditors.

The Registrar of Companies (RoC) reported no pending inquiry, inspection, complaint, or legal action against the company.

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## Issues and analysis

### Issue 1: Whether the application for voluntary liquidation under Section 59 of the Insolvency & …

**Ratio:** Section 59 of the Insolvency

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**Reasoning:** The Adjudicating Authority considered the submissions made by the Liquidator, the

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

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**Application:** The Adjudicating Authority applied Section 59 to the facts of the case, noting

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## Parties

- **Judges:** MANNI SANKARIAH…; ATUL CHAT…
- **Respondents:** Skyline Associates…; Insolvency and…; +1 more
- **Other parties:** Shashi Bhushan…; Shashi Bhus…
- **Advocates:** Niti Kh…; Mehak Khan…

## Timeline

- **1986-08-29 — Incorpor…**: Skyline Associates Private…
- **2024-07-19 — Board Me…**: Board of Directors convened a meeting for approving the proposal for liquidating the…

## 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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