# In the matter of Emmsons Dyes Trading Company Private Limited

> NCLT judgment dated 2024-09-25. Citation: TCN-2024-NCLT-00549. The case pertains to a Company Petition filed by the Liquidator of M/s. Emmsons Dyes Trading…

- **Court:** NCLT
- **Order date:** 25 Sept 2024
- **Citation:** TCN-2024-NCLT-00549
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/emmsons-dyes-trading-company-private-limited-6c8238ac

## Summary

### Background

The case pertains to a Company Petition filed by the Liquidator of M/s. Emmsons Dyes Trading Company Private Limited, seeking dissolution of the company under Section 59(7) of the Insolvency and Bankruptcy Code, 2016. The company faced continuous losses and decided to undergo voluntary liquidation. A board meeting was held on 12.02.2024 to consider winding up and voluntary liquidation. An Extraordinary General Meeting was held on 20.02.2024, where it was resolved to appoint the Applicant as a liquidator.

## Facts

M/s. Emmsons Dyes Trading Company Private Limited, with CIN: U24114TZ1992PTC003610, underwent voluntary liquidation due to continuous losses. The company was incorporated on 29.01.1992 with authorized and issued share capital of Rs. 50,00,000 each. A Board meeting was held on 12.02.2024 to consider winding up, followed by an Extraordinary General Meeting on 20.02.2024, where a resolution was passed to appoint a liquidator. The liquidator, Mr. Vasudevan Gopu, filed a Company Petition under Section 59(7) of the Insolvency and Bankruptcy Code, 2016, seeking dissolution of the company. The company's objects included manufacturing, producing, formulating, buying, selling, exporting, and importing dyes and chemicals. The liquidator conducted the voluntary liquidation process

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## Issues and analysis

### Issue 1: Whether the affairs of the Company have been completely wound up and the assets of the Applicant …

**Ratio:** Section 59(8) of the IBC, 2016, empowers the court to order the dissolution of a company

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**Reasoning:** The court considered the submissions made by the Learned Counsel for the Applicant and

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**Interpretation:** Section 59(8) of the IBC, 2016, provides the legal basis for the court to

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**Application:** The court applied the ratio to the facts of the case, noting that the affairs

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## Parties

- **Judges:** SANJIV…; Venkataraman…
- **Appellants:** Vasudevan Gopu,…
- **Respondents:** Emmsons Dyes…

## Timeline

- **1992-01-29 — Company Incor…**: Emmsons Dyes Trading Company Private Limited was incorporated under the Companies Act,…
- **2024-02-12 — Board Me…**: A Board meeting was held to consider winding up…

## 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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