Authority: National Company Law Tribunal, Kolkata Bench, Court-II

Order Date: 22 June 2026

Case Overview

The Registrar of Companies (RoC), West Bengal, filed a winding-up petition under Sections 271-272 of the Companies Act, 2013 against Plus Vincom Private Limited (CIN: U51109WB2010PTC140872) and its directors, Rita Agarwal (DIN: 00566503) and Munal Agarwal (DIN: 03592597). The petition was based on an inquiry initiated by the Ministry of Corporate Affairs under Section 206(4) via letter dated 13 August 2015, following a complaint by Dr. Kirit Somaiya, MP, against Mr. Sunil Tatkare.

The inquiry revealed that the company, incorporated on 11 January 2010, allotted 1,35,000 equity shares of ₹10 each at a premium of ₹90 per share on 31 March 2010, raising ₹1.35 crore (including share premium of ₹1.215 crore). From FY 2009-10 to 2019-20, the company consistently showed investments in its balance sheets but failed to disclose the names and particulars of the investee companies, violating Schedule III of the Companies Act, 2013. The company generated no operational revenue from FY 2014-15 to FY 2020-21. Despite notices under Section 206(4) and a final opportunity for representation via letter dated 21 June 2022, neither the company nor its directors responded or appeared before the RoC.

The RoC alleged that the company acted as a shell company for money laundering, providing accommodation entries to siphon off funds and evade taxes, causing wrongful loss of tax revenue to the government. The petition sought winding up under Section 271(c) (fraudulent conduct) read with Sections 272(1)(d) and 272(3), appointment of the Official Liquidator, and restraint on asset disposal.

Final Outcome

The NCLT admitted the petition and ordered the winding up of Plus Vincom Private Limited. The Official Liquidator attached to the High Court of Calcutta is appointed as the Company Liquidator. The liquidator is directed to take custody of all properties, preserve assets, examine the statement of affairs, and initiate liquidation under Sections 277, 293, and 294 of the Companies Act, 2013. The liquidator must file a declaration (Form WIN 10) within seven days, a provisional list of contributories within 21 days, and a report (Form 16) within 60 days. An Advisory Committee will be formed under Section 287. The matter is listed next on 13 August 2026 for filing the periodical report.

Topics: Corporate Fraud, Winding Up, Regulatory Compliance