# In the matter of Norden Tankers and Bulkers India LLP

> NCLT judgment dated 2024-06-21. Citation: TCN-2024-NCLT-01133. The case pertains to a Company Petition filed under Section 59(7) of the Insolvency and…

- **Court:** NCLT
- **Order date:** 21 Jun 2024
- **Citation:** TCN-2024-NCLT-01133
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/norden-tankers-and-bulkers-india-llp-13481dcb

## Summary

### Background

The case pertains to a Company Petition filed under Section 59(7) of the Insolvency and Bankruptcy Code, 2016, by Norden Tankers & Bulkers India LLP, seeking dissolution following the completion of a voluntary liquidation process. The LLP was incorporated on 16.01.2018 and had no business operations since 31.10.2020, leading the management to propose voluntary liquidation. The designated partners confirmed the LLP had no debts or creditors and had not committed any default. A resolution was passed on 04.03.2021 to voluntarily liquidate the LLP, appointing Mr. Shashikant Dhamne as the liquidator.

## Facts

Norden Tankers & Bulkers India LLP (LLPIN: AAL-7302) filed a Company Petition under Section 59(7) of the Insolvency and Bankruptcy Code, 2016, seeking dissolution following a voluntary liquidation process. The LLP was incorporated on 16.01.2018 with an authorized share capital of ₹54,41,405. The LLP's registered office is located in Mumbai. The LLP had no business operations since 31.10.2020. The designated partners convened a meeting on 04.03.2021 and passed a resolution to voluntarily liquidate the LLP, appointing Mr. Shashikant Dhamne as the liquidator. The liquidator made public announcements and notified the Registrar of Companies and IBBI. The liquidator opened a bank account for the liquidation process, distributed proceeds to the members, and closed the

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## Issues and analysis

### Issue 1: Whether the voluntary liquidation process of Norden Tankers & Bulkers India LLP was conducted …

**Ratio:** The legal principle applied is that a company can be dissolved if it has undergone a

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**Reasoning:** The court reasoned that the liquidator had followed the prescribed procedures, including

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**Interpretation:** This issue involves interpreting the requirements of Section 59 of the IBC and

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**Application:** The ratio and reasoning were applied to the facts of the case, where the

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## Parties

- **Judges:** Anu Jagmoha…; KISHORE VEMULAPALL…
- **Respondents:** Norden Tankers &…

## Timeline

- **2018-01-16 — Incorporation…**: The LLP was incorporated on 16.01.2018 under the provisions of the Limited Liability…
- **2020-10-31 — Cessation of Business…**: The LLP ceased business…

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