# In the matter of Movenpick Hotels and Resorts Management (India) Pvt. Ltd.

> NCLT judgment dated 2024-03-04. Citation: TCN-2024-NCLT-02240. The case pertains to a petition filed under Section 59 of the Insolvency and Bankruptcy Code…

- **Court:** NCLT
- **Order date:** 4 Mar 2024
- **Citation:** TCN-2024-NCLT-02240
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/movenpick-hotels-and-resorts-management-india-pvt-ltd-00fe3355

## Summary

### Background

The case pertains to a petition filed under Section 59 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking voluntary liquidation of M/s Movenpick Hotels and Resorts Management (India) Pvt. Ltd., the Petitioner Company. The order was delivered on March 4, 2024, and the hearing was conducted through video conferencing and physical mode.

## Facts

M/s Movenpick Hotels and Resorts Management (India) Pvt. Ltd. filed a petition under Section 59 of the IBC seeking voluntary liquidation. The court heard the liquidator's counsel and ordered notices to be issued to the RoC and IBBI for their report and appearance. The petitioner was also directed to file an extract from the IBBI website confirming the company's liquidation status. The case is listed for further hearing on April 24, 2024. The key fact is the application for voluntary liquidation under Section 59 of IBC.

## 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 petition filed under Section 59 of the IBC seeking voluntary

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**Interpretation:** Section 59 of the IBC provides the framework for voluntary liquidation,

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**Application:** The court is assessing whether the petitioner meets the requirements under

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## Parties

- **Judges:** MAHENDRA KHANDELWA…; RAHUL BHA…
- **Respondents:** M/s Movenpick…; ROC…
- **Advocates:** Ashok Kumar…; Amit V…

## Timeline

- **2024-03-04 — Order Del…**: Order delivered on the…
- **2024-04-24 — Next Hearin…**: The matter is listed…

## 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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