Grewal Estates Pvt. Ltd.
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 7.34 Cr. Reported payout equals 100.0% of dues.
All financial figures & reading notes
| Realisation of assets | Rs 26.55 Cr |
|---|---|
| Amount due to creditors | Rs 7.34 Cr |
| Amount paid to creditors | Rs 7.34 Cr |
| Liquidation expenses | Rs 10.00 L |
| Surplus to members | Rs 19.11 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 register460 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 19.11 Cr in surplus was returned to members.
The NCLT order
Read from the document itself
- Bench
- CHANDIGARH BENCH, CHANDIGARH
- Case number
- CP (IB) No.01/Vol./Chd/Chd/2020
- Order date
- 31 Jan 2022
Dissolved in terms of Section 59(8) of the Insolvency & Bankruptcy Code, 2016 with effect from the date of the present order.
What the bench said
The main intention for the company to wind up its services is that company decided to close down its business operations and doesn’t intend to carry on its business operations and pursue objects. Applicant informed concerned authorities, made paper publication, completed final distribution of assets, closed bank account, and submitted final report to IBBI and RoC.
Statutory observations
IBBI reported receipt of Regulation 38(2) report with no further role. RoC reported no inquiry/inspection/complaint/legal action pending. Income Tax Department reported no outstanding demand or pending assessment/penalty/prosecution proceedings.
Why the company wound up
In the order's own words
The company decided to close down its business operations as the Company has not been carrying on any business since last many years.
- What it was doing by the end
- The company has not been carrying on any business since last many years.
The wind-down, stage by stage
8 dated stages
- 9 Feb 2019 Declaration of solvency
- 18 Feb 2019 Liquidation commenced
- 21 Feb 2019 Public announcement
- 20 Mar 2019 Last date for creditors to claim
- 4 Apr 2019 Preliminary report
- 25 Feb 2020 Final report
- 31 Jan 2022 NCLT order
- 31 Jan 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
- Dissolved (Liquidated)
- Company class
- Private
- Category
- Company limited by shares
- Sub-category
- Non-government company
- Listing
- Unlisted
- State
- Chandigarh
- ROC
- ROC Chandigarh
- Industry
- Community, personal and Social Services
- PIN
- 160036
- Incorporated
- 1 Nov 1976
- Authorised capital
- Rs 2.00 L
- Paid-up capital
- Rs 1.22 L
- CIN
- U99999CH1976PTC032844
- Registered office
- HOUSE NO. 203 SECTOR 36A,CHANDIGARH,Chandigarh,160036-India
Creditors and claims
As the order records them
The liquidator prepared the list of stakeholders on the basis of claims received from the creditors first such list was prepared as on 31.03.2019 and then as on 10.05.2019 when one of operational creditor lodged its claim. Thereafter again, the liquidator prepared the list of stakeholders as on 05.07.2019 when the liability of one of the creditors i.e. Sukh Samridhi Infra was appointed and taken over by Mrs. Amarjit Kaur Dhaliwal, Mrs. Narinder Kaur Thind and Mrs. Gurpreet Kaur Gill... verified and admitted the claim.
Litigation and delays
The frictions the order records
Litigation
No inquiry/inspection/complaint/legal action has been proceeded/pending against the subject company as per RoC report.
Figures come from IBBI, NCLT, MCA and other official sources. Methodology · Report an error
See other companies in the voluntary liquidation register.