# In the matter of Weathernews India Private Limited

> NCLT judgment dated 2024-02-16. Citation: TCN-2024-NCLT-02554. The case pertains to a Company Petition filed under Section 59(7) of the Insolvency and…

- **Court:** NCLT
- **Order date:** 16 Feb 2024
- **Citation:** TCN-2024-NCLT-02554
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/weathernews-india-private-limited-8e67be6e

## Summary

### Background

The case pertains to a Company Petition filed under Section 59(7) of the Insolvency and Bankruptcy Code, 2016, by Weathernews India Private Limited through its Insolvency Professional, Mrs. Sudha P. Navandar, for voluntary liquidation and dissolution. The Corporate Person sought to wind up voluntarily under Section 59 of the Code, having completed the necessary formalities and procedures for liquidation. The company had discontinued its business operations and did not anticipate future assignments or contracts. The Board of Directors, after inquiry, concluded that the company had no debt and was not being liquidated to defraud anyone. The company passed a Special Resolution on 25.03.2021 to liquidate and appoint Mrs. Sudha Pravin Navandar as the Liquidator.

## Facts

Weathernews India Private Limited filed a petition for voluntary liquidation under Section 59(7) of the Insolvency and Bankruptcy Code, 2016. The company was incorporated on 16.05.2007 and was engaged in providing marketing and promoting weather service products. On 15.03.2021, the Board of Directors decided to liquidate the company voluntarily due to the discontinuation of business operations and the lack of future assignments. The Board formed the opinion that the company had no debt and was not being liquidated to defraud anyone. A Special Resolution was passed on 25.03.2021 to liquidate the company and appoint Mrs. Sudha Pravin Navandar as the Liquidator. The Liquidator notified the Registrar of Companies and the IBBI about the liquidation. Public announcements

…

## Issues and analysis

### Issue 1: Whether the Corporate Person, Weathernews India Private Limited, has complied with the requirements …

**Ratio:** Section 59 of the Insolvency and Bankruptcy Code, 2016, and related regulations prescribe

…

**Reasoning:** The court examined the various steps taken by the Corporate Person and the Liquidator,

…

**Interpretation:** Section 59 provides a mechanism for a solvent corporate entity to voluntarily

…

**Application:** The court applied the provisions of Section 59 to the facts of the case and

…

## Parties

- **Judges:** Reeta K…; SANJIV…
- **Respondents:** Weathernews India…

## Timeline

- **2007-05-16 — Incorporation of…**: Weathernews India Private…
- **2021-03-15 — Board Resolution for…**: The Board of Directors decided to…

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/weathernews-india-private-limited-8e67be6e