Adamas India Pharmaceuticals Private Limited
The wind-down at a glance. Follow the recorded outcome, financials and people behind this company.
What did the wind-down return?
Reported financials Rs crore, shown in lakh below Rs 1 crore
Where the money went
Share of realisationAmount due to creditors: Rs 13.00 L. Reported payout equals 100.0% of dues.
All financial figures & reading notes
| Realisation of assets | Rs 93.00 L |
|---|---|
| Amount due to creditors | Rs 13.00 L |
| Amount paid to creditors | Rs 13.00 L |
| Liquidation expenses | Rs 5.00 L |
| Surplus to members | Rs 74.00 L |
"Not reported" means no figure is available. A reported zero is shown as zero. Registry capital further down the page is separate from liquidation proceeds, and so are any figures read from the NCLT order.
Where this wind-down sits
against every completed s.59 on the register692 days slower than the median of 618 days across 1,597 completed wind-downs
the median is 9.5%
72% of completed wind-downs returned a surplus to members
above the median realisation of Rs 66.00 L
This is a voluntary liquidation under IBC Section 59 — a solvent company choosing to wind up. Creditors are paid in full and costs met before any surplus returns to members; there is no haircut and no acquirer. Read assets realised, creditor payments, expenses and members' surplus separately. Here, Rs 74.00 L in surplus was returned to members.
The NCLT order
Read from the document itself
- Bench
- BENGALURU BENCH, BENGALURU
- Case number
- C.P. (IB)No.80/BB/2021
- Order date
- 2 Nov 2021
Dissolved with immediate effect
What the bench said
We are convinced that the Company Corporate Person has followed due process of law before filing the instant Application/ Petition and nothing remains to be liquidated. Thus, the Petition / Application deserves to be allowed, as prayed for.
Why the company wound up
In the order's own words
The management proposed the Board to terminate its business activities and initiate the proceedings of members' voluntary winding up
- What it was set up to do
- to carry on the business to undertake pharmaceutical research and development activities either on a contract basis for parent company or third parties, or for its own accounts including but not limited to the areas or pre-clinical research, discovery services, information technology services, data management and project management etc.
The wind-down, stage by stage
9 dated stages
- 20 Mar 2018 Board resolution to wind up
- 2 Apr 2018 Liquidation commenced
- 4 Apr 2018 Public announcement
- 11 May 2018 Preliminary report
- 21 Jan 2021 Final report
- 29 Jan 2021 Final report filed with IBBI
- 3 Feb 2021 Final report filed with the ROC
- 2 Nov 2021 NCLT order
- 2 Nov 2021 Dissolved
Green marks a date from the IBBI register; blue marks a date read from an NCLT order.
The company behind the record
Identity, registration and capital
- MCA status
- Under Liquidation
- Company class
- Private
- Category
- Company limited by shares
- Sub-category
- Non-government company
- Listing
- Unlisted
- State
- Karnataka
- ROC
- ROC Bangalore
- Industry
- Manufacturing (Metals and Chemicals, and products thereof)
- PIN
- 560027
- Incorporated
- 4 May 2007
- Authorised capital
- Rs 5.00 L
- Paid-up capital
- Rs 1.00 L
- CIN
- U24100KA2007PTC049036
- Registered office
- DOOR No. 110/8, 1st FLOOR LALBAGH ROAD CROSS, KRISHNAPPA LAYOUT,BANGALORE,Bangalore,Karnataka,560027-India
The money, as the order printed it
Rs as stated in the document — not the crore figures above
- Total receipts
- Rs 93.03 L
- Total payments
- Rs 93.03 L
Receipts
| Opening Bank Balance 2 Apr 2018 | Rs 93.02 L |
|---|---|
| Receipt from anonymous person A/c 31 Jul 2018 | Rs 1,140 |
Payments
| Bank Charges | Rs 4,160 |
|---|---|
| Interest | Rs 841 |
| Dilip Kumar parasmal A/c | Rs 3.48 L |
| Vipin Bhansali and Associates A/c | Rs 37,800 |
| Richa Khetawat A/c | Rs 1.24 L |
| Statutories (TDS payable) | Rs 13.40 L |
| CGS & Co A/c | Rs 5,900 |
| Statutories (TDS payable) | Rs 130 |
| Return of capital | Rs 74.42 L |
What the company held
The Company did not have any assets that were to be disposed of
Unclaimed proceeds
Since there were no undistributed assets or any other balance payable to the stakeholders in the hands of the Applicant, the provisions of Regulation 39 do not apply
Creditors and claims
As the order records them
The applicant did not receive any objection or claim from any of the authorities.
Litigation and delays
The frictions the order records
Litigation
no litigation is pending against the Corporate Person
Why it took as long as it did
The liquidation process of the corporate person could not be completed within 12 months
Figures come from IBBI, NCLT, MCA and other official sources. Methodology · Report an error
See other companies in the voluntary liquidation register.