# In the matter of EMI Trading & Engineering (India) Private Limited CP-IB-50-CHE-2022

> NCLT judgment dated 2022-06-01. Citation: TCN-2022-NCLT-02489. The case pertains to an application filed under Section 59(7) of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 1 Jun 2022
- **Citation:** TCN-2022-NCLT-02489
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/emi-trading-engineering-india-private-limited-cp-ib-50-che-2022-b06ee453

## Summary

### Background

The case pertains to an application filed under Section 59(7) of the Insolvency and Bankruptcy Code, 2016 (IBC) by EMI Trading & Engineering (India) Private Limited, seeking voluntary liquidation. The company was incorporated on 14.03.2012 and closed its business operations on 31.12.2020. The application seeks the dissolution of the company.

## Facts

EMI Trading & Engineering (India) Private Limited filed an application for voluntary liquidation under Section 59(7) of the IBC, 2016. The company was incorporated on 14.03.2012 with CIN: U51101TN2012FTC084921. The company closed its business operations on 31.12.2020, terminating contracts with its customers. A board meeting on 25.01.2021 resolved to liquidate the company. Ms. Rajshree Choudhari was initially appointed as the liquidator but was later replaced by Mr. Ananthachari Mahesh on 05.07.2021 due to disciplinary action against her. The public announcement of the commencement of the voluntary liquidation process was made on 03.02.2021. The liquidator submitted a preliminary report on 25.09.2021 and a final report dated 23.12.2021. The liquidator distributed

…

## Issues and analysis

### Issue 1: Whether the Applicant Company deserves to be dissolved under Section 59(8) of the IBC, 2016, given …

**Ratio:** Section 59(8) of the IBC, 2016, confers powers to order the dissolution of a company when

…

**Reasoning:** The Tribunal examined the submissions and documents presented by the Authorized

…

**Interpretation:** Section 59(8) of the IBC allows the Tribunal to dissolve a company if the

…

**Application:** Given the complete winding up of affairs and liquidation of assets of EMI

…

## Parties

- **Judges:** S. Ramath…; Anil Ku…
- **Respondents:** EMI Trading &…

## Timeline

- **2012-03-14 — Company Incor…**: EMI Trading & Engineering (India)…
- **2020-12-31 — Closure of Business…**: The Applicant Company closed its business operations and terminated contracts with its…

---

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-division-bench-court-i-chenn/emi-trading-engineering-india-private-limited-cp-ib-50-che-2022-b06ee453