Voluntary liquidation · IBC s.59

KPS Systems Private Limited

CIN · U72200GJ2005PTC045801 Company Gujarat 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

6 Jul 2023

View process timeline

What did the wind-down return?

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

Assets realised

Rs 72.00 L

Value realised from assets

Paid to creditors

Rs 0

No creditor dues reported

Surplus to members

Rs 72.00 L

Reported surplus amount

Where the money went

Share of realisation

Creditors · 0.0%Rs 0

Expenses · 0.0%Rs 0

Members · 100.0%Rs 72.00 L

Amount due to creditors: Rs 0. No payout percentage is calculated against zero or negative dues.

All financial figures & reading notes

Amounts as recorded for this voluntary liquidation
Realisation of assets	Rs 72.00 L
Amount due to creditors	Rs 0
Amount paid to creditors	Rs 0
Liquidation expenses	Rs 0
Surplus to members	Rs 72.00 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 dissolve822 days

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

Cost of the wind-down0.0% of realisation

the median is 9.5%

Surplus returnedYes

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

SizeRs 72.00 L

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 72.00 L in surplus was returned to members.

The NCLT order

Read from the document itself

Bench: Ahmedabad Court - 2
Case number: CP(IB)/104(AHM)2022
Order date: 6 Jul 2023

Dissolved effective order date

What the bench said

It is seen that assets of the company have been completely liquidated. The affairs of the company have been wound up. This petition complies with the provisions of Section 59(7) of the Code.

Statutory observations

The Income Tax Department filed their report on 27.04.2022 and stated that no demand is pending against the corporate person. Despite several opportunities given to the RoC to appear in the said matter, none appeared on behalf of the RoC and no reply has been filed till date by RoC.

6 Jul 2023 · CP(IB)/104(AHM)2022 · 11 pages Read the order

Why the company wound up

In the order's own words

Lack of business prospects and non-availability of long term financial resources for the company.

What it was set up to do: To promote, encourage, establish, develop, maintain, organize, manage, operate, import, export and conduct various personal computers, networking servers, unix base systems, peripherals, networking components along with operating systems, RDBMS and necessary systems, software solutions on the net, development of portals, B2B solutions, commerce and supply chain activities between manufacturers, distributors, resellers, customers and retailers, e-commerce enabling, websites/on-line shopping, internet consulting and to undertake business of outsourcing of various datas overseas and export of softwares and to carry on the business of all type, style and nature of business of developing website, BPO, customer service centre and call centres in India and abroad.

The wind-down, stage by stage

11 dated stages

822 days to dissolve

25 Mar 2021 Board resolution to wind up
30 Mar 2021 Declaration of solvency
5 Apr 2021 Liquidation commenced
8 Apr 2021 Public announcement
10 May 2021 Preliminary report
24 Mar 2022 Final report
25 Mar 2022 Final report filed with the ROC
26 Mar 2022 Final report filed with IBBI
8 Apr 2022 Dissolution application filed
6 Jul 2023 NCLT order
6 Jul 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: Non-government company
Listing: Unlisted
State: Gujarat
ROC: ROC Ahmedabad
Industry: Business Services
PIN: 380015
Incorporated: 1 Apr 2005
Authorised capital: Rs 50.00 L
Paid-up capital: Rs 49.50 L
CIN: U72200GJ2005PTC045801
Registered office: 5 NIRGUN BUNGLOW NR SUPERSOCIETY RAMDEVNAGAR SATELLITE,AHMEDABAD,Gujarat,380015-India

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

Balance at Bank: 1883750.53, Cash in hand: 96360.78, Investments: 3819851.44, Loans & Advances: 7846, Other Current Assets: 75737.60

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.