Guntur Tobacco 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
Reported amountsCreditor dues are not reported, so the payout cannot be assessed against them.
All financial figures & reading notes
| Realisation of assets | Rs 32.00 L |
|---|---|
| Amount due to creditors | Not reported |
| Amount paid to creditors | Not reported |
| Liquidation expenses | Rs 8.00 L |
| Surplus to members | Rs 24.00 L |
"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 registerabout the median
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. Here, Rs 24.00 L in surplus was returned to members.
The NCLT order
Read from the document itself
- Bench
- Hyderabad Bench
- Case number
- CP (IB) No.74/59/HDB/2019
- Order date
- 27 Jun 2019
Dissolved with effect from the date of this Order
What the bench said
The voluntary liquidator has complied with the requirement of the provisions of section 59 of the IB Code, 2016 and filed this Petition under section 59(7) to dissolve the Corporate Person.
Statutory observations
Registrar of Companies, Andhra Pradesh submitted a report dated 26.03.2019 stating that Special Resolution passed on 16.10.2017, MGT-14, Declaration of Solvency, Final Report, Balance Sheet and Annual Return as on 31.03.2017 were taken on record.
Why the company wound up
In the order's own words
due to non-availability of business prospect and long tenu financial resources it was not financial viable to carry on the business activities of the Company and proposed to close down the company by way of voluntary liquidation
- What it was set up to do
- manufacturers of and dealers in tobacco, cigars, cigarettes, beedies, match-lights, pipes and any other articles required by or which may be convenient to smokers, and of snuff grinders and merchants and box merchants and to deal in any other articles and things commonly dealt in by tobaccinists, etc. Software development and Customization, package Development and customization, networking, information technology enabled services, internet related business, system analysis and etc.
- What it was doing by the end
- The Petitioner Company is doing tobacco business in small volumes for the last many years and stopped the same from the last 3 years and due to non-availability of business prospect and long tenu financial resources it was not financial viable to carry on the business activities
The wind-down, stage by stage
9 dated stages
- 16 Sep 2017 Declaration of solvency
- 16 Oct 2017 Liquidation commenced
- 17 Oct 2017 Public announcement
- 3 Nov 2017 Preliminary report
- 15 Nov 2017 Last date for creditors to claim
- 16 Jan 2019 Final report filed with the ROC
- 16 Jan 2019 Final report filed with IBBI
- 27 Jun 2019 NCLT order
- 27 Jun 2019 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
- Public
- Category
- Company limited by shares
- Sub-category
- Non-government company
- Listing
- Unlisted
- State
- Andhra Pradesh
- ROC
- ROC Vijayawada
- Industry
- Manufacturing (Food stuffs)
- PIN
- 522001
- Incorporated
- 9 Aug 1937
- Authorised capital
- Rs 10.00 L
- Paid-up capital
- Rs 5.72 Lorder says Rs 5.73 L
- CIN
- U16001AP1937PLC001276
- Registered office
- D.NO.10-2-9, 2ND LANE, SAMBASIVAPETA,GUNTUR,Andhra Pradesh,522001-India
Directors named in the order
Maddi Seetha Devi · Maddi Venkteswara Rao · Venkata Subramanya Ravi Vadlamani
The money, as the order printed it
Rs as stated in the document — not the crore figures above
Unclaimed proceeds
Rs. 93,502/- (remaining amount of Rs. 21,360/- investment in share capital and accumulated profit amounting to Rs. 72,142/- not claimed by shareholders)
Creditors and claims
As the order records them
No claims received from financial creditors
Creditor approval
The Liquidator had not received any claims from the financial creditors and the Company under voluntary liquidation has no creditors as on date of filing of the Petition
Figures come from IBBI, NCLT, MCA and other official sources. Methodology · Report an error
See other companies in the voluntary liquidation register.