Bluskills Education 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 4.00 L |
|---|---|
| Amount due to creditors | Not reported |
| Amount paid to creditors | Not reported |
| Liquidation expenses | Rs 4.00 L |
| Surplus to members | Not reported |
"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 register101 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
below 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.
The NCLT order
Read from the document itself
- Bench
- Bengaluru Bench
- Case number
- C.P.(IB) No.212/BB/2020
- Order date
- 14 Dec 2020
Dissolved with immediate effect
What the bench said
In pursuance to the said resolution, the Liquidator has complied with all the conditions and procedural requirements as specified under various provisions of Section 59 of the Insolvency and Bankruptcy Code, 2016 and of the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017.
Statutory observations
The Liquidator sought to confirm that there was no hidden liability on the Company towards statutory authorities viz., Income Tax Department, Goods and Service Tax Department, Employee State Insurance Corporation, Professional Tax, Shops and Establishment.
Why the company wound up
In the order's own words
Due to lack of business prospects and undue pressure on the long term financial resources, the Board of Directors, considered the matter and came to conclusion that it is not financially and commercially viable to continue the business and proposed to close down the Company by way of voluntary liquidation.
- What it was set up to do
- to provide training, education and learning solutions in all streams including but not limited to science, commerce, industrial, commercial, arts, and conduct classes through online and/or offline in India and /or any part of the world etc.
- What it was doing by the end
- The Company has not carried any business from the date of incorporation.
The wind-down, stage by stage
8 dated stages
- 16 Nov 2018 Declaration of solvency
- 3 Dec 2018 Board resolution to wind up
- 26 Dec 2018 Liquidation commenced
- 30 Dec 2018 Public announcement
- 25 Jan 2019 Last date for creditors to claim
- 31 Jan 2019 Preliminary report
- 14 Dec 2020 NCLT order
- 14 Dec 2020 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 (Liquidated)
- Company class
- Private
- Category
- Company limited by shares
- Sub-category
- Non-government company
- Listing
- Unlisted
- State
- Karnataka
- ROC
- ROC Bangalore
- Industry
- Business Services
- PIN
- 560078
- Incorporated
- 13 Feb 2017
- Authorised capital
- Rs 10.00 Cr
- Paid-up capital
- Rs 4.48 Cr
- CIN
- U74999KA2017PTC100466
- Registered office
- Plot No. 30, Galaxy, 1st Main Road, J P Nagar 3rd Phase,,Bengaluru,Bangalore,Karnataka,560078-India
Directors named in the order
Mr. Ramaprasad Jyothinagaravyasha Sriraman · Mr.Pudhucode Radhakrishnan Kannan
The money, as the order printed it
Rs as stated in the document — not the crore figures above
What the company held
The only liquid assets existed in the Company was balance of Rs. 4,25,671/- in a Current Account of the Company.
Creditors and claims
As the order records them
No claims were received either within or even after the due date.
Creditor approval
As there are no Financial or Operational Creditors in the Company, no claims were received either within or even after the due date.
Litigation and delays
The frictions the order records
Litigation
There were no pending proceedings and hidden statutory liability on the company.
Why it took as long as it did
Several visits were made to ascertain pending proceedings which consumed little more time and meanwhile the process was further hampered by the lockdown period due to Covid-19 pandemic and restricted entry into the various Government offices.
Figures come from IBBI, NCLT, MCA and other official sources. Methodology · Report an error
See other companies in the voluntary liquidation register.