# In the matter of Nordic Wireless India Private Limited

> NCLT judgment dated 2025-03-21. Citation: TCN-2025-NCLT-00328. The case pertains to a Company Petition filed by the Liquidator of Nordic Wireless India…

- **Court:** NCLT
- **Order date:** 21 Mar 2025
- **Citation:** TCN-2025-NCLT-00328
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/nordic-wireless-india-private-limited-e6aac5d3

## Summary

### Background

The case pertains to a Company Petition filed by the Liquidator of Nordic Wireless India Private Limited, seeking the dissolution of the company under Section 59 of the Insolvency and Bankruptcy Code, 2016. The company was incorporated on February 3, 2020, initially as "WIO India Private Limited" and later changed its name to "Nordic Wireless India Private Limited" on October 25, 2021. The company's main objective was to carry out business in software and hardware. The Board of Directors decided to close down the company due to a lack of significant business operations and profitability. A resolution for voluntary liquidation was passed on September 27, 2023.

## Facts

Nordic Wireless India Private Limited (formerly WIO India Private Limited) sought voluntary liquidation under Section 59 of the Insolvency and Bankruptcy Code, 2016 (IBC). The company was incorporated on February 3, 2020, and its name was changed on October 25, 2021. The company's authorized share capital was Rs. 2,50,00,000, and the issued, subscribed, and paid-up share capital was Rs. 42,01,654. The directors, Palani and Dhanalakshmi Selvaraj, decided to close the company due to a lack of business operations and profitability. A board meeting was held on September 27, 2023, to pass a resolution for voluntary liquidation. The directors made a declaration of solvency on the same date. An Extraordinary General Meeting was held on September 29, 2023, where shareholders

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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:** The legal principle applied is Section 59 of the Insolvency and Bankruptcy Code, 2016,

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**Reasoning:** The court examined the submissions made by the liquidator and perused the documents

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

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**Application:** In this case, the court found that the liquidator had provided sufficient

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## Parties

- **Judges:** JYOTI KUMAR…; RAVICHANDRAN…
- **Appellants:** K. Gaurav…
- **Respondents:** Nordic Wireless…

## Timeline

- **2020-02-03 — Company Incor…**: Nordic Wireless India Private Limited (initially as WIO India Private Limited) was…
- **2021-10-25 — Name Cha…**: The company's name was changed from "WIO India Private Limited" to "Nordic Wireless India…

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