# In the matter of Container Services (India) Private Limited C.P.(IB) 520-MB-2022

> NCLT judgment dated 2022-04-27. Citation: TCN-2022-NCLT-03050. The case pertains to a Company Petition filed under Section 59(7) of the Insolvency and…

- **Court:** NCLT
- **Order date:** 27 Apr 2022
- **Citation:** TCN-2022-NCLT-03050
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/container-services-india-private-limited-cpib-520-mb-2022-68a1ea5b

## Summary

### Background

The case pertains to a Company Petition filed under Section 59(7) of the Insolvency and Bankruptcy Code, 2016, by Brigantine Admec Container Services (India) Private Limited, a Corporate Person, through its Insolvency Professional, Mr. Shashikant Shravan Dhamne, for voluntary liquidation and dissolution. The Corporate Person sought to voluntarily wind up its operations under Section 59 of the Code, asserting compliance with all requisite formalities and procedures for liquidation. The company was incorporated on 05.05.2009. The Board of Directors resolved on 08.03.2021 to liquidate the company voluntarily, declaring solvency and compliance with relevant regulations. The liquidator was appointed with a remuneration of Rs. 2,42,250/-.

## Facts

Brigantine Admec Container Services (India) Private Limited, a Corporate Person, filed a Company Petition under Section 59(7) of the Insolvency and Bankruptcy Code, 2016, seeking voluntary liquidation and dissolution. The company was incorporated on 05.05.2009. The Board of Directors passed a resolution on 08.03.2021 to liquidate the company voluntarily, declaring solvency and compliance with Section 59(3)(a) of the Code by filing a declaration of solvency in form GNL-2 with the Registrar of Companies, Mumbai on 12.03.2021. Mr. Shashikant Shravan Dhamne was appointed as the liquidator with a remuneration of Rs. 2,42,250/-. The liquidator notified the Registrar of Companies and IBBI about the liquidation and intimated the Income-tax Department. A public announcement was

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## Issues and analysis

### Issue 1: Whether the Corporate Person, Brigantine Admec Container Services (India) Private Limited, should …

**Ratio:** Section 59 of the Insolvency and Bankruptcy Code, 2016, allows a corporate person to

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**Reasoning:** The court noted that the affairs of the Corporate Person had been completely wound up and

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**Interpretation:** Section 59 provides a mechanism for a solvent corporate person to voluntarily

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**Application:** In this case, the court applied Section 59 to the facts presented and found

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## Parties

- **Judges:** SUCHITRA KANUPARTH…; ANURADHA SANJAY…; +1 more
- **Respondents:** Brigantine Admec…

## Timeline

- **2009-05-05 — Incorporation of…**: Brigantine Admec Container Services…
- **2021-03-08 — Board Resolution for…**: The Board of Directors passed a resolution…

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