Voluntary liquidation · IBC s.59

Ishwarya Lakshmi Finance Private Limited

CIN · U65921TZ1991PTC003198 Company Tamil Nadu MCA · Dissolved (Liquidated)

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

Process record Dissolution recorded

26 Aug 2022

View process timeline

What did the wind-down return?

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

Assets realised

Rs 24.00 L

Value realised from assets

Paid to creditors

Not reported

Creditor payout recorded

Surplus to members

Rs 23.00 L

Reported surplus amount

Where the money went

Reported amounts

Some financial figures are missing. A complete proceeds split is not available.

CreditorsNot reported

ExpensesRs 1.00 L

MembersRs 23.00 L

Creditor dues are not reported, so the payout cannot be assessed against them.

All financial figures & reading notes

Amounts as recorded for this voluntary liquidation
Realisation of assets	Rs 24.00 L
Amount due to creditors	Not reported
Amount paid to creditors	Not reported
Liquidation expenses	Rs 1.00 L
Surplus to members	Rs 23.00 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 register

Time to dissolve648 days

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

Cost of the wind-down4.2% of realisation

the median is 9.5%

Surplus returnedYes

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

SizeRs 24.00 L

below 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 23.00 L in surplus was returned to members.

The NCLT order

Read from the document itself

Bench: SPECIAL BENCH - I, CHENNAI
Case number: CP(IB)/281(CHE)/2021
Order date: 26 Aug 2022

Dissolved effective order date

What the bench said

Affairs of the Company have been completely wound up and assets of the Applicant Company have been completely liquidated

Statutory observations

There is no preferential, undervalue, extortionate or fraudulent transactions pending against the applicant company.

26 Aug 2022 · CP(IB)/281(CHE)/2021 · 10 pages Read the order

Why the company wound up

In the order's own words

Company's registration certificate was cancelled by RBI due to the inability to comply with the required Net Owned Funds (NOF) and no feasible business opportunities

What it was set up to do: Financiers of trading, manufacturing, operations of transports, machineries, deal in hire purchase, encourage and assist in hire purchase of all operations, financing all operations of manufacturing, trans port operations and Industrial enterprises, leasing and letting on lease of movable properties

The wind-down, stage by stage

11 dated stages

648 days to dissolve

16 Nov 2020 Board resolution to wind up
16 Nov 2020 Declaration of solvency
16 Nov 2020 Liquidation commenced
18 Nov 2020 Public announcement
16 Dec 2020 Last date for creditors to claim
28 Dec 2020 Preliminary report
30 Sep 2021 Final report
30 Sep 2021 Final report filed with the ROC
30 Sep 2021 Final report filed with IBBI
26 Aug 2022 NCLT order
26 Aug 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: Tamil Nadu
ROC: ROC Coimbatore
Industry: Finance
PIN: 641001
Incorporated: 22 Mar 1991
Authorised capital: Rs 25.00 L
Paid-up capital: Rs 22.36 L
CIN: U65921TZ1991PTC003198
Registered office: 133 BIG BAZAR STREETNANJAPPA COMPLEX,COIMBATORE,Tamil Nadu,641001-India

Directors named in the order

Muthuswamy Gangadaran · Muthiyil Pathayapura Gopalakrishnan · Krishnaswamy Vijayaraghavan · Sitaraman Sivakumar

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

Total receipts: Rs 24.28 L
Total payments: Rs 24.28 L
Liquidator fee: Rs 1.19 L
Liquidation cost: Rs 1.29 L

Receipts

Bank balance realised 22 Mar 2021	Rs 13.57 L
Bank balance realised 5 May 2021	Rs 10.71 L

Payments

Liquidation expenses	Rs 1.29 L
Distribution to equity shareholders	Rs 22.99 L

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.