Authority: National Company Law Tribunal, Court-V, Mumbai Bench
Order Date: 09 June 2026
Case Overview
The National Company Law Tribunal (NCLT), Mumbai Bench, comprising Member (Judicial) Ashish Kalia and Member (Technical) Charanjeet Singh Gulati, heard Company Petition No. C.P. (IB)/598(MB)2025 filed by Helix Investments Advisors India Private Limited. The petition was filed under Section 59 of the Insolvency and Bankruptcy Code, 2016, which governs voluntary liquidation proceedings initiated by corporate persons. The matter was listed urgently following the filing of Interlocutory Application No. 1886 of 2026 seeking urgent listing and hearing. The petitioner was represented by Advocate Rohini Mehar along with Advocates Lakshmi Nair and Mohan Bwadra from Bathiya Legal, who appeared physically before the tribunal.
During the hearing, the tribunal raised a specific query regarding whether the company had conducted a shareholders meeting for the dissolution/liquidation of the company as required under Section 59 of the IBC. The petitioner's counsel requested time to seek instructions and address the tribunal on this matter on the next hearing date.
Final Outcome
The NCLT adjourned the hearing and listed the company petition for further consideration on 06 July 2026. The tribunal did not issue any directions or rulings on the substantive matter pending clarification from the petitioner regarding compliance with shareholders meeting requirements for voluntary liquidation.
Topics: Voluntary Liquidation, Corporate Insolvency