# In the matter of EPC Offshore Subsea Projects Ltd. C.P. No. (IB)1739(MB)-2018

> NCLT judgment dated 2018-11-01. Citation: TCN-2018-NCLT-00413. The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016.…

- **Court:** NCLT
- **Order date:** 1 Nov 2018
- **Citation:** TCN-2018-NCLT-00413
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/epc-offshore-subsea-projects-ltd-cp-no-ib1739mb-2018-7bb4ba48

## Summary

### Background

The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Hon'ble High Court had already passed an order of liquidation against the Respondent Company, Essar Offshore Subsea Limited (formerly known as EPC Offshore Subsea Projects Ltd), under the provisions of the Companies Act, 1956. An official liquidator of the Hon'ble High Court was appointed with powers under Section 457 of the Companies Act, 1956, to take charge of the assets, business affairs, properties, bank accounts, books of accounts, and documents of the Respondent Company.

## Facts

Ale Middle East LLC filed a petition against EPC Offshore Subsea Projects Ltd under Section 9 of the Insolvency and Bankruptcy Code, 2016. Prior to this petition, the Hon'ble High Court had already passed an order of liquidation against EPC Offshore Subsea Projects Ltd (now known as Essar Offshore Subsea Limited) in CP 347/2016. The High Court's order included the appointment of an official liquidator with powers under Section 457 of the Companies Act, 1956, to manage the company's assets and affairs. The key fact is the prior liquidation order by the High Court, which directly impacts the maintainability of the Section 9 petition before the NCLT.

## Issues and analysis

### Issue 1: Whether the petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, is maintainable …

**Ratio:** A petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, is not

…

**Reasoning:** The court reasoned that the appointment of a liquidator by the Hon'ble High Court

…

**Interpretation:** The interpretation is that once a liquidation process has been initiated and a

…

**Application:** In this specific case, since the Hon'ble High Court had already appointed a

…

## Parties

- **Judges:** V. P. S…; RavikumarDu…
- **Appellants:** Ale Middle East…
- **Respondents:** EPC Offshore…

## Timeline

- **2016-01-01 — High Court…**: Hon'ble High Court passed an order of liquidation in CP 347/2016 against EPC Offshore…
- **2018-11-01 — NCLT Hea…**: Hearing of Mumbai Bench of the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/epc-offshore-subsea-projects-ltd-cp-no-ib1739mb-2018-7bb4ba48