# In the matter of Elero Motors and Controls Private Limited

> NCLT judgment dated 2024-04-24. Citation: TCN-2024-NCLT-01599. The case pertains to a petition filed under Section 59 of the Insolvency and Bankruptcy Code…

- **Court:** NCLT
- **Order date:** 24 Apr 2024
- **Citation:** TCN-2024-NCLT-01599
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/elero-motors-and-controls-private-limited-c2394796

## Summary

### Background

The case pertains to a petition filed under Section 59 of the Insolvency and Bankruptcy Code (IBC), seeking voluntary liquidation of Elero Motors and Controls Private Limited. The National Company Law Tribunal (NCLT), New Delhi, Court-V, heard the submissions made by the counsel on behalf of the petitioner.

## Facts

A petition was filed under Section 59 of the IBC seeking voluntary liquidation of Elero Motors and Controls Private Limited. The NCLT heard submissions from the petitioner's counsel. The court directed that notice be issued to the RoC and IBBI, requiring them to file their reports. The petitioner was also instructed to file an extract from the IBBI website confirming the company's voluntary liquidation status. The case was then scheduled for further hearing on 11.06.2024. The key facts are the filing of the petition, the court's directions to the RoC, IBBI, and the petitioner, and the scheduling of a future hearing.

## Issues and analysis

### Issue 1: Whether the petition for voluntary liquidation …

**Ratio:** Section 59 of the IBC allows a corporate person to initiate voluntary liquidation

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**Reasoning:** The court considered the submissions made by the Ld. Counsel on behalf of the petitioner

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

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**Application:** The court is applying Section 59 to the facts presented by the petitioner to

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## Parties

- **Judges:** MAHENDRA KHANDELWA…; Sanjeev R…
- **Respondents:** Elero Motors and…

## Timeline

- **N/A — Petition…**: A petition was filed under Section 59 of…
- **2024-04-24 — Order Del…**: Order delivered by the NCLT directing notice to RoC and IBBI and directing the petitioner…

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