Incorporated on 11th November 2009, Sembmarine Kakinada Limited is an integrated offshore and Marine Engineering Company offering ship repairing, ship building, conversion, offshore fabrication and related services. It was formed as a joint venture of Sembcorp Marine Repairs & Upgrades Pte. Ltd., Kakinada Infrastructures Holding Pvt Ltd. (KIHPL) and India Infrastructure Pte. Ltd (IIPL). It is located in the East Coast of India operating within the vicinity of Kakinada Seaports in the state of Andhra Pradesh and has pioneered in carrying out ship repair activity of vessels including offshore vessels, dredgers rigs etc.

Sembmarine Kakinada limited has distinctive advantages with respect to draft availability (12m) in its approach channel, compared to 4-9m in other shipyard locations. SKL is equipped with essentials facilities and infrastructure viz. Floating Dry Dock (FDD) with travel luffing cranes, heavy transporter, cherry picker, crawler cranes, workshops etc. and access to OSV jetty at site to enable ship repair activities at ease.

The company was admitted into the Corporate insolvency process vide order dated 23rd September 2019 and Mr. Om Prakash Agarwal (IP Registration No. IBBI/IPA-001/IP-P00906/2017-18/11506) was appointed as the Resolution professional for the Sembmarine Kakinada Limited (‘the Corporate Debtor’ or ‘the Company’). Currently the Liquidation Process in respect of the Corporate has been initiated vide order dated 1st November 2021 and appointed Mr. V.V. Krishnamurthy (IP Registration no. IBBI/IPA-001/IP-P00905/207-18/11505 ) , as the Liquidator for Sembmarine Kakinada Limited.

In addition, the liquidator is to take custody and control of all the assets of the company including the business records. The provisions of IBC, 2016 interalia provides for the control and custody of any asset over which the Company has ownership rights, assets that may or may not be in in possession of the Company and assets subject to the determination of ownership by a court or authority.

It may further be noted that in terms of Section 33(5) of the IBC, subject to Section 52 of the IBC, on passing of the liquidation order, no suit or legal proceeding can be instituted against the Corporate Debtor.