Ashokmithra Capitals 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 0. No payout percentage is calculated against zero or negative dues.
All financial figures & reading notes
| Realisation of assets | Rs 2.28 Cr |
|---|---|
| Amount due to creditors | Rs 0 |
| Amount paid to creditors | Rs 0 |
| Liquidation expenses | Rs 3.00 L |
| Surplus to members | Rs 2.25 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 register211 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 2.25 Cr in surplus was returned to members.
The NCLT order
Read from the document itself
- Bench
- DIVISION BENCH – II, CHENNAI
- Case number
- CP (IBC) / 60 (CHE) / 2024
- Order date
- 2 Aug 2024
Dissolved effective order date
What the bench said
The affairs of the Company have been completely wound up and the assets have been completely liquidated, hence the company deserves to be dissolved.
Statutory observations
The Tribunal observed that no realization took place, cash balances and IT refunds formed the liquidation estate, and other current assets including TDS receivable and preliminary expenses were appropriately dealt with.
Why the company wound up
In the order's own words
The company could not commence its business due to rejection of NBFC registration by RBI, and the management did not have any further plan to carry on any business.
- What it was set up to do
- To carry on the business of general finance company and to finance for purchasing and selling of industrial and office plans, equipment machinery, vehicles, buildings, real estate, electrical and electronic equipment, computers and other capital goods to industrial and commercial undertakings and etc.
- What it was doing by the end
- The company could not commence its business as the application made for NBFC registration to RBI was rejected.
The wind-down, stage by stage
6 dated stages
- 26 Apr 2022 Liquidation commenced
- 29 Apr 2022 Public announcement
- 27 May 2022 Preliminary report
- 20 Nov 2023 Final report
- 2 Aug 2024 NCLT order
- 2 Aug 2024 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
- Dissolved under section 59(8)
- Company class
- Private
- Category
- Company limited by shares
- Sub-category
- Non-government company
- Listing
- Unlisted
- State
- Tamil Nadu
- ROC
- ROC Chennai
- Industry
- Finance
- PIN
- 620017
- Incorporated
- 11 Jan 2019
- Authorised capital
- Rs 2.25 Cr
- Paid-up capital
- Rs 2.25 Cr
- CIN
- U65929TN2019PTC126894
- Registered office
- No 79, Bharathi Nagar, 5th Cross, Vayalur Road,Puthur, Thenur,,TIRUCHIRAPALLI,Tiruchirappalli,Tamil Nadu,620017-India
Shareholding as the order states it
| Member | Shares | % |
|---|---|---|
| Mani Aswin Sidharth | 5,70,000 | 25.33% |
| Nithishragav.M | 5,10,000 | 22.67% |
| Duraisamy C | 1,00,000 | 4.4% |
| Dhandapani. A | 1,00,000 | 4.4% |
| Periyasamy. A | 1,00,000 | 4.4% |
| Palanisamy P | 1,00,000 | 4.4% |
| Subramanian K | 50,000 | 2.2% |
| RajaP | 50,000 | 2.2% |
| Ravichandran P | 1,00,000 | 4.4% |
| Saminathan C | 50,000 | 2.2% |
| Selvaraj K | 20,000 | 0.89% |
| Ravichandran M | 50,000 | 2.2% |
| Karupusamy R | 50,000 | 2.2% |
| Loganathan S | 50,000 | 2.2% |
| Karthikeyan T | 50,000 | 2.2% |
| Senthil N | 50,000 | 2.2% |
| Sengodan R | 1,00,000 | 4.4% |
| Karthirvel K | 1,00,000 | 4.4% |
| Senthil G | 50,000 | 2.2% |
The money, as the order printed it
Rs as stated in the document — not the crore figures above
- Total receipts
- Rs 2.28 Cr
- Total payments
- Rs 2.28 Cr
- Liquidator fee
- Rs 1.07 L
Receipts
| Account opening balance / Bank Balance Realised 30 Jun 2022 | Rs 2.28 Cr |
|---|---|
| Interest received 30 Jun 2022 | Rs 625 |
| IT refund received 8 Feb 2023 | Rs 45,110 |
| TDS deduction 6 Nov 2023 | Rs 25,000 |
Payments
| Account opening balance / liquidator | Rs 25,000 |
|---|---|
| Liquidation expenses - Liquidator fee paid to erstwhile Liquidator - Mr. S. Vijay Mahindhran | Rs 50,000 |
| Liquidator fee paid to Mr. Vasudevan Gopu (after TDS deduction) | Rs 57,462 |
| Fee towards Liquidation expenses / accounts audit certification | Rs 5,000 |
| TDS - as per section 194J of income tax act 1961 - Liquidator fee | Rs 33,839 |
| Payment to Shareholders (19 nos) | Rs 2.25 Cr |
What the company held
Cash balances available with the company and Income Tax returns received which formed the liquidation estate.
Creditors and claims
As the order records them
Total claims admitted amounted to 336000 for liquidation expenses and 22500000 for equity shareholders.
Litigation and delays
The frictions the order records
Litigation
No PUFE applications or avoidance of transaction applications were pending or filed.
Figures come from IBBI, NCLT, MCA and other official sources. Methodology · Report an error
See other companies in the voluntary liquidation register.