# 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-00787. 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-00787
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/delta-tau-data-systems-india-private-limited-cp-no-78-ibp-nclt-mb-2021-9d7670bc

## Summary

### Background

The case pertains to a Company Petition filed under Section 59(7) of the Insolvency and Bankruptcy Code, 2016, for the dissolution of Delta Tau Data Systems India Private Limited through voluntary liquidation. The petition was initiated by the Corporate Person through its Insolvency Resolution Professional, Mr. Ketan S. Dand, on the grounds that the Corporate Person was sold under a '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 necessary formalities and procedures for liquidation.

## Facts

Delta Tau Data Systems India Private Limited (the Corporate Person) filed a petition for voluntary liquidation under Section 59 of the Insolvency and Bankruptcy Code, 2016. The company was incorporated on 03.06.2011. The Corporate Person 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. On 01.04.2017, the Corporate Person was sold under 'slump sale' to Omron Automation Private Limited. On 29.01.2018, the members passed a Special Resolution to liquidate the company and appointed Mr. Ketan S. Dand as the Liquidator. The Corporate Person notified the Registrar of Companies and IBBI about the liquidation. The Liquidator

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## Issues and analysis

### Issue 1: Whether the Corporate Person has complied with the requirements of Section 59 of the Insolvency and …

**Ratio:** Section 59 of the Insolvency and Bankruptcy Code, 2016, outlines the procedure for

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**Reasoning:** The court examined the actions taken by the Corporate Person, including passing a Special

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**Interpretation:** Section 59 provides a framework for corporate entities to voluntarily liquidate

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**Application:** In this case, the Corporate Person followed the prescribed steps under Section

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## Parties

- **Judges:** SUCHITRA KANUPARTH…; Chandra Bha…; +1 more
- **Appellants:** Ketan S.…
- **Respondents:** Delta Tau Data…

## Timeline

- **2011-06-03 — Incorporation of…**: Delta Tau Data Systems India…
- **2017-04-01 — Sale under 'sl…**: The Corporate Person was sold under 'slump…

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