Voluntary liquidation · IBC s.59

Dongwon Tech India Private Limited

CIN · U72900PN2008FTC131693 Company Maharashtra MCA · Dissolved under section 59(8)

The wind-down at a glance. Follow the recorded outcome, financials and people behind this company.

Process record Dissolution recorded

14 Jun 2023

View process timeline

What did the wind-down return?

Reported financials Rs crore, shown in lakh below Rs 1 crore

Assets realised

Rs 3.97 Cr

Value realised from assets

Paid to creditors

Rs 12.00 L

100.0% of reported dues

Surplus to members

Rs 3.52 Cr

Reported surplus amount

Where the money went

Share of realisation

Creditors · 3.0%Rs 12.00 L

Expenses · 8.3%Rs 33.00 L

Members · 88.7%Rs 3.52 Cr

Amount due to creditors: Rs 12.00 L. Reported payout equals 100.0% of dues.

All financial figures & reading notes

Amounts as recorded for this voluntary liquidation
Realisation of assets	Rs 3.97 Cr
Amount due to creditors	Rs 12.00 L
Amount paid to creditors	Rs 12.00 L
Liquidation expenses	Rs 33.00 L
Surplus to members	Rs 3.52 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 register

Time to dissolve669 days

51 days slower than the median of 618 days across 1,597 completed wind-downs

Cost of the wind-down8.3% of realisation

the median is 9.5%

Surplus returnedYes

72% of completed wind-downs returned a surplus to members

SizeRs 3.97 Cr

above the median realisation of Rs 66.00 L

Reading this record

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 3.52 Cr in surplus was returned to members.

The NCLT order

Read from the document itself

Bench: MUMBAI BENCH : C-IV
Case number: CP(IB)-422/MB/2023
Order date: 14 Jun 2023

Dissolved

What the bench said

On examining the submissions made by the Liquidator and the documents annexed to the petition, it appears that the affairs of the company have been completely wound up, and its assets have been completely liquidated.

Statutory observations

Income tax officer confirmed that company has no income tax demand outstanding.

14 Jun 2023 · CP(IB)-422/MB/2023 · 6 pages Read the order

Why the company wound up

In the order's own words

There were no affairs being carried out in the Company and it is no longer capable of being revived in the immediate future as the operation of General Motors Ltd. India plant has been closed completely due to Covid-19 pandemic.

What it was doing by the end: Operation of General Motors Ltd. India plant has been closed completely due to Covid-19 pandemic and General Motors was the main client of the Company.

The wind-down, stage by stage

10 dated stages

669 days to dissolve

5 Aug 2021 Board resolution to wind up
14 Aug 2021 Liquidation commenced
19 Aug 2021 Public announcement
28 Sep 2021 Preliminary report
24 Jan 2023 Final report
30 Jan 2023 Final report filed with the ROC
30 Jan 2023 Final report filed with IBBI
2 Feb 2023 Dissolution application filed
14 Jun 2023 NCLT order
14 Jun 2023 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: subsidiary of company incorporated outside India
Listing: Unlisted
State: Maharashtra
ROC: ROC Pune
Industry: Business Services
PIN: 412208
Incorporated: 27 Mar 2008
Authorised capital: Rs 18.50 Cr
Paid-up capital: Rs 17.27 Cr
CIN: U72900PN2008FTC131693
Registered office: Office No. 401, 4th Floor, Yashraj Towers, Pune Nagar Road, Koregaon Bhima, Shirur,Pune,Pune,Maharashtra,412208-India

Directors named in the order

Seok Woo Lee · Sungyoo Choi · Jungmin Suh · Somnath Nivrutti Darekar

Company registry · MCA data as on 12 Jun 2026. Capital figures are shown separately from the wind-down financials.

The money, as the order printed it

Rs as stated in the document — not the crore figures above

What the company held

All the assets of the corporate person were realized and disposed off.

These are the figures the NCLT order prints, in rupees. The crore figures higher up the page come from IBBI's outcome file. They are different measurements from different sources and are shown separately on purpose — the Cr/Lakh switch does not touch them.