ORDER

1. This is an application filed under Section 59(7) of the Insolvency and Bankruptcy Code, 2016 (the Code) by Mr. Mohammad Khalid, Liquidator of M/s Sabharwal Investments Private Limited (CIN: U74899DL1985PTC022763) (Corporate Person) seeking the following prayers in terms of Section 59(7) of the Insolvency and Bankruptcy Code of 2016:

a) Allow the present application;

b) To pass necessary order for dissolution of Sabharwal Investments Private Limited with CIN U74899DL1985PTC022763 in terms of section 59 (8) of the Insolvency and Bankruptcy Code, 2016; and

c) Such other order/orders as this Hon'ble Tribunal may deem fit and proper.

Brief Facts of the Case As Stated In the Petition:

2. The Corporate Person was incorporated on 12.12.1985 under the Companies Act, 1956, as a Private Limited Company under the Registrar of Companies, New Delhi, with CIN U74899DL1985PTC022763. The registered office of the Company is situated M-87, Greater Kailash-1, New Delhi 110048. Therefore, this Bench has jurisdiction to deal with the present petition.

3. The main objects of the Corporate Person, as set out in its Memorandum of Association (“MoA”), are as follows:

• To invest in, underwrite, buy, acquire, hold, sell or otherwise deal in shares, stocks, debentures, debenture-stocks, bonds, units, obligations, securities, negotiable instruments and other investments of any kind by original subscription or otherwise, issued or guaranteed by any company constituted, Government, Public Body or Authority, municipal and local Bodies, firm or person, whether, in India or abroad.

• To lend and advance money not as a banking business as defined under Banking Regulation-act, 1949 or give credit to such persons, companies, firms, corporations or institutions on such terms with or without security as may seem expedient and to release or discharge any debts owing to the company.

• To guarantee the performance of any contract, payment or repayment of money or other obligation of any company, firm or persons and also to give such indemnities and securities as may be required.

A copy of the Memorandum and Articles of Association of the corporate person, along with an extract of its Master Data obtained from the MCA website, have been filed along with the present Application.

4. The Capital Structure of the Company is as follows:

5. The Board of Directors of the Corporate Person comprises the following:

A. Madhavi Sabharwal, DIN: 00368633

B. Anju Kohli, DIN: 00368647

Submissions of the Applicant

6. The Board of Directors (‘BoD’) of the Company, at its meeting held on 07.08.2025 decided to wind up the affairs of the Company by way of voluntary liquidation as per section 59 of the Code read with regulation 3 of Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations 2017 on the ground that the management of the company foresees the progress of the Company and due to the business of the company not resulting as expected, they have decided the Company be voluntarily liquidated.

7. The directors of the Corporate Person have furnished a Declaration of Solvency in terms of Section 59(3)(a) of the IBC, 2016, affirming that the company has no outstanding debts or liabilities and no assets; and that the liquidation is not being undertaken with the intent to defraud any person. The said Declaration of Solvency is placed on record as Annexure A III.

8. Further, as proposed by the BoD, the Members/shareholders of the Company in the Extra Ordinary General Meeting (EGM) held on 21.08.2025, passed a special resolution to voluntarily liquidate the Corporate Person under section 59 of the Code.

9. Further, a special