# In the matter of Nadhi Information Technologies Private Limited CP-IB-143-CHE-2022

> NCLT judgment dated 13 Sept 2022. Citation: TCN-2022-NCLT-01078. This case involves a Company Petition filed by the Liquidator, Deepa Venkat Ramani, for the…

- **Court:** NCLT
- **Order date:** 13 Sept 2022
- **Citation:** TCN-2022-NCLT-01078
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/nadhi-information-technologies-private-limited-cp-ib-143-che-2022-619d0413

## Summary

### Background

This case involves a Company Petition filed by the Liquidator, Deepa Venkat Ramani, for the voluntary liquidation of M/s Nadhi Information Technologies Private Limited under Section 59(7) of the Insolvency and Bankruptcy Code, 2016 (IBC, 2016). The Applicant Company, incorporated on September 6, 2008, was engaged in the business of computer-based tools for architecture, engineering, construction, and supply chain management. The company became a wholly-owned subsidiary of M/s Bentley Systems India Private Limited through a Business Transfer Agreement dated July 5, 2021. The decision to voluntarily liquidate was made because the company ceased all business activities and settled all employee-related matters.

## Facts

The Company Petition was filed by Deepa Venkat Ramani, the Liquidator of M/s Nadhi Information Technologies Private Limited, seeking the dissolution of the company under Section 59(7) of the Insolvency and Bankruptcy Code, 2016. The company was incorporated on September 6, 2008, under the provisions of the Companies Act, 1956, with CIN: U72400TN2008PTC069180. Its business involved computer-based tools for architecture, engineering, construction, ERP, decision support, and optimization, as detailed in its memorandum of association.

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## Issues and analysis

### Issue 1: Whether M/s Nadhi Information Technologies Private Limited is eligible for dissolution under…

**Ratio:** A company that has undergone a voluntary liquidation process in full compliance with the…

**Reasoning:** The court reasoned that the company had complied with all statutory requirements for…

**Interpretation:** The court interpreted Section 59(8) of the IBC, 2016, as empowering it to order…

**Application:** Given that M/s Nadhi Information Technologies Private Limited had completed all…

## Parties

- **Judges:** Ramalingam…; AVINASH K.…
- **Advocates:** For Applicant:…; PCS…

## Timeline

- **September 6, 2008 — Incorpor…**: M/s Nadhi Information Technologies…
- **July 5, 2021 — Business Transfer…**: Applicant Company became a wholly owned subsidiary of M/s Bentley Systems India Private…

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