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

> NCLT judgment dated 2024-03-04. Citation: TCN-2024-NCLT-02225. 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-02225
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/movenpick-hotels-and-resorts-management-india-pvt-ltd-a0cd97a2

## Summary

### Background

The case pertains to a petition filed under Section 59 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking voluntary liquidation of the Petitioner Company, M/s Movenpick Hotels and Resorts Management (India) Pvt. Ltd.

## 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 counsel for the liquidator and directed that notices be issued to the RoC and IBBI for filing their report and appearance. The petitioner was also directed to file an extract of IBBI's website indicating that the company is under liquidation. The matter was listed on 24.04.2024. This indicates the company is taking steps to initiate voluntary liquidation proceedings.

## Issues and analysis

### Issue 1: Whether the petition for voluntary liquidation under Section 59 of the IBC, 2016, should be …

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

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**Reasoning:** The court is considering a petition filed under Section 59 of the IBC. The court has not

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

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**Application:** The court's direction to issue notices to RoC and IBBI and to file an extract

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## Parties

- **Judges:** MAHENDRA KHANDELWA…; RAHUL BHA…
- **Respondents:** M/s Movenpick…; ROC…

## Timeline

- **2024-03-04 — Order Del…**: Order delivered on 04.03.2024…
- **2024-04-24 — Matter L…**: List the matter on…

## 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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