# In the matter of Werfen Medical India Pvt. Ltd. (IB)-844-ND-2019

> NCLT judgment dated 2020-09-28. Citation: TCN-2020-NCLT-00511. The case pertains to the voluntary liquidation of M/S Werfen Medical India Pvt. Ltd. The…

- **Court:** NCLT
- **Order date:** 28 Sept 2020
- **Citation:** TCN-2020-NCLT-00511
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/werfen-medical-india-pvt-ltd-ib-844-nd-2019-cbf0c4aa

## Summary

### Background

The case pertains to the voluntary liquidation of M/S Werfen Medical India Pvt. Ltd. The company initiated voluntary winding up due to no significant business operations in the past two years and the holding company's desire to operate a single entity in India through another subsidiary. The company's board decided that voluntary liquidation would be in the best interest of the company and its stakeholders. The application for dissolution was filed under Section 59 of the Insolvency and Bankruptcy Code, 2016.

## Facts

M/S Werfen Medical India Pvt. Ltd., a private limited company incorporated on 20.10.2011, engaged in trading imported medical equipment. Due to no significant business operations for two years and the parent company's desire to consolidate operations, the company's board resolved on 18.04.2019 to initiate voluntary winding up and appoint a liquidator. Sanjay Kumar Jha was appointed as the Voluntary Liquidator. A declaration of solvency was signed on 23.10.2019. An EGM was held on 20.05.2019, where a special resolution was passed. The company had no operational or financial creditors. The liquidator notified the Assessing Officer on 22.05.2019 and published notifications in newspapers on 23.05.2019. No claims were received from any stakeholder. The Assistant

…

## Issues and analysis

### Issue 1: Whether the application for voluntary liquidation of M/S Werfen Medical India Pvt. Ltd. under …

**Ratio:** Section 59(7) of the Insolvency and Bankruptcy Code, 2016, allows for the dissolution of

…

**Reasoning:** The court reasoned that the voluntary liquidator had taken all necessary steps as per the

…

**Interpretation:** Section 59(7) provides the legal basis for dissolving a company after the

…

**Application:** The court applied Section 59(7) to the facts of the case, noting that the

…

## Parties

- **Judges:** ABNI RANJAN KUMAR…; K.K. V…
- **Respondents:** M/S Werfen…

## Timeline

- **2011-10-20 — Company Incor…**: M/S Werfen Medical India…
- **2019-04-18 — Board Resolution for…**: A resolution was passed to initiate…

---

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/werfen-medical-india-pvt-ltd-ib-844-nd-2019-cbf0c4aa