NCLT Orders Dissolution of Groww Promoter Company Following Voluntary Liquidation

The National Company Law Tribunal (NCLT) at Bengaluru has ordered the dissolution of Groww AA Private Limited, a company promoted by the founders of the online investment platform Groww. This comes after the company filed a plea for voluntary liquidation, completed all required legal and financial formalities, and distributed its assets to shareholders.The fintech platform Groww (Billionbrains Garage Ventures Ltd), founded in 2016, has opened its Initial Public Offering today.In an order passed on October 13, a bench of Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada observed that the company has completely liquidated its assets and deserves to be dissolved. Groww AA Private Limited was incorporated on November 18, 2022. On July 8, 2024, the board of directors submitted a declaration of solvency, confirming the company could meet its debts. A special resolution for voluntary liquidation was passed on July 19, 2024, and Pranav Damania was appointed as liquidator. The company filed the petition for dissolution on April 21, 2025. During the liquidation, it followed all requirements. It filed audited financial statements and notified the Registrar of Companies (RoC). Public notices were published on July 22, 2024, asking creditors to submit claims by August 18, 2024. No claims were received. A separate bank account for liquidation was opened and later closed on January 27, 2025. Final reports, including audited accounts covering July 19, 2024, to December 18, 2024, were submitted to the RoC on April 1, 2025, and to the IBBI on March 21, 2025. Total receipts and payments during liquidation were Rs 2.30 crore, leaving no balance. The Income Tax Department confirmed there were no pending dues. The RoC reported no complaints or investigations. The tribunal directed the liquidator to inform tax authorities and surrender the company's PAN and GST numbers. It clarified that dissolution does not remove past financial or legal responsibilities of the company or its directors. Case Title: Groww AA Pvt. Ltd.Case Number: C.P. (IB) No. 89/BB/2025For Petitoner: Groww AA Pvt. Ltd.Click here to read/download order

NCLT Orders Dissolution of Groww Promoter Company Following Voluntary Liquidation

Sahyaja MS

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