Andrew Industries (India) 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
Reported amountsCreditor dues are not reported, so the payout cannot be assessed against them.
All financial figures & reading notes
| Realisation of assets | Rs 3.69 Cr |
|---|---|
| Amount due to creditors | Not reported |
| Amount paid to creditors | Not reported |
| Liquidation expenses | Rs 4.00 L |
| Surplus to members | Rs 3.65 Cr |
"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 register187 days faster 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 3.65 Cr in surplus was returned to members.
The NCLT order
Read from the document itself
- Bench
- DIVISION BENCH -II, CHENNAI
- Case number
- CP(IB)/49(CHE)/2022
- Order date
- 2 May 2022
Dissolved effective order date
What the bench said
The affairs of the Company have been completely wound up and the assets of the Applicant Company have been completely liquidated and as such the Applicant Company deserves to be dissolved.
Why the company wound up
In the order's own words
Promoter's old age, sale of business by UK parent to Lydall Inc. which imposed a global non-compete agreement prohibiting manufacturing in Asia, sale of factory and cessation of operations, absence of expansion plans, and company being in a net cash position.
- What it was set up to do
- Manufacture of Industrial Bag Filters, which are used as pollution controlling equipment in several heavy industries wherever Industrial Boilers were used for producing Power, Aluminium, Iron ore etc.
- What it was doing by the end
- Commenced production from its factory situated in Sri City, Andhra Pradesh during 2012-13, ran successful operations between 2013 and 2017, and ceased operations after factory and leasehold rights were sold during 2017-2018.
The wind-down, stage by stage
6 dated stages
- 25 Feb 2021 Liquidation commenced
- 3 May 2021 Public announcement
- 12 Jun 2021 Preliminary report
- 24 Jul 2021 Board resolution to wind up
- 2 May 2022 NCLT order
- 2 May 2022 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
- subsidiary of company incorporated outside India
- Listing
- Unlisted
- State
- Tamil Nadu
- ROC
- ROC Chennai
- Industry
- Manufacturing (Machinery and Equipments)
- PIN
- 600118
- Incorporated
- 23 Sep 2009
- Authorised capital
- Rs 35.20 Cr
- Paid-up capital
- Rs 3.52 Crorder says Rs 35.20 Cr
- CIN
- U29268TN2009FTC072995
- Registered office
- No. 5/9, 1st Main Road, Thiruvallur Nagar 8th Street,,Kodungaiyur,Chennai,Tamil Nadu,600118-India
Directors named in the order
Lakshmipathy Karnam Natrajan · Mark Robert Bennet · Lee John Blunstone
The money, as the order printed it
Rs as stated in the document — not the crore figures above
- Total receipts
- Rs 3.69 Cr
- Total payments
- Rs 3.69 Cr
- Liquidator fee
- Rs 1.00 L
Receipts
| Balance at Bank | Rs 2.84 Cr |
|---|---|
| Interest on Fixed Deposit with bank | Rs 79,483 |
| Income Tax Refund | Rs 25.24 L |
| Proceeds of Fixed Deposits Redemption | Rs 5.62 Cr |
| Proceeds from LIC (Closure of P&GS Unit Account) | Rs 25.13 L |
Payments
| Liquidator Fee | Rs 1.00 L |
|---|---|
| Payment of TDS/Advance Tax | Rs 7,165 |
| Liquidation expenses (Newspaper advertisement, filings fee etc.) | Rs 42,721 |
| Payment of consultancy fees and other support services | Rs 27,500 |
| Claim Forms | Rs 7,050 |
| Payment of Auditors fee for audit of liquidation account | Rs 23,500 |
| Remittance charges to bank | Rs 10,920 |
| Rent & Maintenance | Rs 80,784 |
| Excess Interest Recovered on Pre-closure of Fixed Deposits | Rs 1.10 L |
| Payment to Members (Refund of share capital) | Rs 36.50 Cr |
Creditors and claims
As the order records them
Creditor approval
Meeting of the creditors held on 04.05.2021 where three creditors (constituting 100% of the Operational Creditors) ratified the shareholder's resolution regarding voluntary liquidation.
Litigation and delays
The frictions the order records
Litigation
No suit or legal proceedings by or against the company are pending before any Forum or Authority.
Figures come from IBBI, NCLT, MCA and other official sources. Methodology · Report an error
See other companies in the voluntary liquidation register.