# In the matter of Bellatrix Logistics India Private Limited

> NCLT judgment dated 2023-10-17. Citation: TCN-2023-NCLT-01169. The case pertains to a voluntary liquidation application filed by Bellatrix Logistics India…

- **Court:** NCLT
- **Order date:** 17 Oct 2023
- **Citation:** TCN-2023-NCLT-01169
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bellatrix-logistics-india-private-limited-f97b2620

## Summary

### Background

The case pertains to a voluntary liquidation application filed by Bellatrix Logistics India Private Limited under Section 59(7) of the Insolvency and Bankruptcy Code, 2016, read with the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017. The company sought to be dissolved, and the liquidator sought discharge from their obligations. The company was incorporated on 27.02.2017. The Board of Directors passed a resolution on 06.12.2022 to initiate voluntary liquidation, subject to member approval. An Extra Ordinary General Meeting was held on 12.12.2022, where a special resolution was passed for voluntary winding up and appointment of Mr. Mansij Arya as the Liquidator. Public announcements were made to invite stakeholder claims, and

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## Facts

Bellatrix Logistics India Private Limited filed for voluntary liquidation under Section 59(7) of the Insolvency and Bankruptcy Code, 2016. The company was incorporated on 27.02.2017. A board resolution was passed on 06.12.2022 to initiate voluntary liquidation, subject to member approval. An Extra Ordinary General Meeting on 12.12.2022 approved the winding up and appointed Mr. Mansij Arya as Liquidator. The company filed GNL-2 vide SRN F53540522 dated 17.12.2022 regarding the Declaration of Solvency. Public announcements were made on 15.12.2022 to invite stakeholder claims, with a submission deadline of 11.01.2023. The liquidator opened an account with Axis Bank Limited on 10.01.2023. The liquidator distributed proceeds to stakeholders, with Emirates Shipping Agencies

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## Issues and analysis

### Issue 1: Whether the voluntary liquidation process initiated by Bellatrix Logistics India Private Limited …

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

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**Reasoning:** The court examined the steps taken by the company and the liquidator, including the board

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**Interpretation:** Section 59 and the related regulations are interpreted to ensure that the

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**Application:** The court found that the company and the liquidator had complied with the

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## Parties

- **Judges:** MANNI SANKARIAH…; BINOD KUMAR…
- **Respondents:** Bellatrix…; Registrar of…

## Timeline

- **2017-02-27 — Company Incor…**: Bellatrix Logistics India…
- **2022-12-06 — Board Reso…**: The Board of Directors passed a resolution to initiate voluntary liquidation, subject to…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 59 — Voluntary liquidation of corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-59)

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