# In the matter of Sumitomo Construction Machinery India Private Limited

> NCLT judgment dated 2023-07-19. Citation: TCN-2023-NCLT-05284. The case pertains to the dissolution of Sumitomo Construction Machinery India Private Limited…

- **Court:** NCLT
- **Order date:** 19 Jul 2023
- **Citation:** TCN-2023-NCLT-05284
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chennai/sumitomo-construction-machinery-india-private-limited-16490f95

## Summary

### Background

The case pertains to the dissolution of Sumitomo Construction Machinery India Private Limited under Section 59(7) of the Insolvency and Bankruptcy Code, 2016, initiated by the Liquidator.

## Facts

Sumitomo Construction Machinery India Private Limited was incorporated on 27.08.2008 under the Companies Act, 1956.

The company's name was changed to Sumitomo Construction Machinery India Private Limited w.e.f. 12.09.2019.

The Board of Directors decided to liquidate the Company in a meeting held on 23.09.2020.

A special resolution was passed in an Extraordinary General Meeting on 30.09.2020 to appoint the Applicant as liquidator.

The Applicant conducted the Voluntary Liquidation process in accordance with the IBBI (Voluntary Liquidation Process) Regulations, 2017.

There are no outstanding liabilities of the Company, and no claims were received during the liquidation process.

No investigation proceedings are pending against the Company under the Companies Act, 2013.

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## Issues and analysis

### Issue 1: Whether the affairs of the Company …

**Ratio:** Based on the submissions and

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**Reasoning:** The Tribunal examined the submissions made by

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**Interpretation:** The Tribunal interpreted the documents as evidence that the affairs of the

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**Application:** The Tribunal applied this

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## Parties

- **Judges:** SANJIV…; SAMEER…
- **Appellants:** Chitra Sr…
- **Respondents:** Sumitomo Construct…
- **Advocates:** Sarath…

## Timeline

- **2008-08-27 — Incorpor…**: The Company was incorporated…
- **2019-09-12 — Name Cha…**: The Company's name was changed to Sumitomo…

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