# In the matter of Delta Tau Data Systems India Private Limited C.P. No. 78-I&BP-NCLT-MB-2021

> NCLT judgment dated 2021-10-07. Citation: TCN-2021-NCLT-00791. The case pertains to a Company Petition filed under Section 59(7) of the Insolvency and…

- **Court:** NCLT
- **Order date:** 7 Oct 2021
- **Citation:** TCN-2021-NCLT-00791
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/delta-tau-data-systems-india-private-limited-cp-no-78-ibp-nclt-mb-2021-667afda7

## Summary

### Background

The case pertains to a Company Petition filed under Section 59(7) of the Insolvency and Bankruptcy Code, 2016, for the voluntary liquidation and dissolution of Delta Tau Data Systems India Private Limited. The petition was filed by the Corporate Person through its Insolvency Resolution Professional, Mr. Ketan S. Dand, on the ground that the Corporate Person was sold under 'slump sale' to Omron Automation Private Limited. The Corporate Person proposed for voluntarily winding up under Section 59 of the Code, 2016, having completed the requisite formalities and procedures of liquidation in compliance with the law.

## Facts

Delta Tau Data Systems India Private Limited (the Corporate Person) filed a petition for voluntary liquidation under Section 59(7) of the Insolvency and Bankruptcy Code, 2016. The company was incorporated on 03.06.2011. It is a subsidiary of Delta Tau Data Systems INC based in the United States of America, holding 89% of the Corporate Person's shares, with the remaining 11% held by Omron management Centre of America INC. The Board of Directors decided to liquidate the company voluntarily via a resolution dated 25.01.2018, believing it had no debt and was not being liquidated to defraud anyone. A special resolution was passed on 29.01.2018 to liquidate the company and appoint Mr. Ketan S. Dand as the liquidator. The company notified the Registrar of Companies and IBBI

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## Issues and analysis

### Issue 1: Whether the Corporate Person, Delta Tau Data Systems India Private Limited, should be dissolved …

**Ratio:** Section 59 of the Insolvency and Bankruptcy Code, 2016, provides the framework for

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**Reasoning:** The court reasoned that the affairs of the Corporate Person had been completely wound up

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**Interpretation:** Section 59(7) is interpreted to mean that once a corporate person has undergone

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**Application:** The court applied the ratio to the facts by noting that the liquidator had

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## Parties

- **Judges:** SUCHITRAKAN…; Chandra Bha…
- **Appellants:** Ketan S.…
- **Respondents:** Delta Tau Data…

## Timeline

- **2011-06-03 — Incorporation of…**: Delta Tau Data Systems India…
- **2017-04-01 — Limited…**: Limited dated 01.04.2017 and accordingly it has proposed for voluntarily winding up under…

## 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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