# Hankook Tires India LLP (Applicant)

> NCLT judgment dated 2026-04-23. Citation: TCN-2026-NCLT-00540. Hankook Tires India LLP filed an application under Section 59(7) of the Insolvency and…

- **Court:** NCLT
- **Order date:** 23 Apr 2026
- **Citation:** TCN-2026-NCLT-00540
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/hankook-tires-india-llp-applicant-39rts

## Summary

### Background

Hankook Tires India LLP filed an application under Section 59(7) of the Insolvency and Bankruptcy Code, 2016, seeking dissolution after completing its voluntary liquidation process. The voluntary liquidation was approved by the Designated Partners and Partners through resolutions dated 28.12.2021 and 29.12.2021, respectively, and Mr. Sapan Mohan Garg was appointed as the Liquidator. A declaration of solvency was also furnished.

## Facts

The present Application has been filed under Section 59(7) of the Insolvency and Bankruptcy Code, 2016, seeking dissolution of Hankook Tires India LLP upon completion of the voluntary liquidation process.

Designated Partners and Partners of Hankook Tires India LLP approved the voluntary liquidation and appointed Mr. Sapan Mohan Garg as the Liquidator vide resolutions dated 28.12.2021 and 29.12.2021.

A declaration of solvency was furnished by the Designated Partners in pursuance of Section 59 of the IBC, 2016, read with Regulation 3 of the IBBI (Voluntary Liquidation Process) Regulations, 2017.

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## Issues and analysis

### Issue 1: Whether the voluntary liquidation process of Hankook Tires India LLP has been duly conducted in …

**Ratio:** The Adjudicating Authority is satisfied that the voluntary liquidation process was

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**Reasoning:** The NCLT reviewed all submitted documents, including resolutions for liquidation,

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**Interpretation:** Compliance with statutory provisions and regulations governing voluntary

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**Application:** The NCLT applied Section 59 of the IBC and IBBI Regulations, 2017, to

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## Parties

- **Judges:** Sh. Ashok Kumar…; ATUL CHAT…
- **Respondents:** Hankook Tires…
- **Other parties:** Sapan Moha…; Urga Na…; +3 more
- **Advocates:** Varsha Ba…

## Timeline

- **2021-12-28 — Designated Partners'…**: Designated Partners of Hankook Tires India LLP approved the voluntary liquidation of the…
- **2021-12-29 — Partners' Resolution &…**: Partners of Hankook Tires India LLP approved the voluntary liquidation and appointed Mr.…

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