Lightspeed Advisory Services India Private Limited
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 0. No payout percentage is calculated against zero or negative dues.
All financial figures & reading notes
| Realisation of assets | Rs 2.32 Cr |
|---|---|
| Amount due to creditors | Rs 0 |
| Amount paid to creditors | Rs 0 |
| Liquidation expenses | Rs 8.00 L |
| Surplus to members | Rs 2.24 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 register551 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 2.24 Cr in surplus was returned to members.
The NCLT order
Read from the document itself
- Bench
- NEW DELHI, COURT-III
- Case number
- (IB) – 428 (ND)/2022
- Order date
- 4 Jun 2024
Applicant Company shall stand dissolved with effect from the date of pronouncement of this order
What the bench said
The affairs of the Applicant Company have been completely wound up and its assets have been completely liquidated. No liabilities have been left unsatisfied. The Voluntary Liquidation is not with the intent to defraud any person.
Statutory observations
no adverse comments have been received from any statutory authority or from public at large against such dissolution
Why the company wound up
In the order's own words
no significant business operations in the past years and considering no prospects of new business opportunities
- What it was set up to do
- undertake and carry on the business as consultants and advisors in the fields of management, organizational, secretarial, finance, accounting and other related activities
- What it was doing by the end
- has no significant business operations in the past years
The wind-down, stage by stage
10 dated stages
- 9 Mar 2021 Declaration of solvency
- 23 Mar 2021 Board resolution to wind up
- 23 Mar 2021 Liquidation commenced
- 25 Mar 2021 Public announcement
- 7 Apr 2021 Preliminary report
- 22 Apr 2021 Last date for creditors to claim
- 18 Apr 2022 Final report
- 22 Apr 2022 Final report filed with the ROC
- 4 Jun 2024 NCLT order
- 4 Jun 2024 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
- Delhi
- ROC
- ROC Delhi
- Industry
- Business Services
- PIN
- 110065
- Incorporated
- 30 Jul 2007
- Authorised capital
- Rs 3.00 Cr
- Paid-up capital
- Rs 2.55 Cr
- CIN
- U74140DL2007PTC223394
- Registered office
- 11, Southern Avenue Maharani Bagh,New Delhi,New Delhi,Delhi,110065-India
Directors named in the order
Mr. Amit Mehra · Mr. Bejul Somaia
Shareholding as the order states it
| Member | Shares | % |
|---|---|---|
| LVP Management Inc., USA | ||
| Lightspeed Venture Partners China LLC |
The money, as the order printed it
Rs as stated in the document — not the crore figures above
- Total receipts
- Rs 2.32 Cr
- Total payments
- Rs 2.32 Cr
- Liquidator fee
- Rs 0
- Liquidation cost
- Rs 0
Receipts
| Cash / Bank balance | Rs 2.32 Cr |
|---|
Payments
| Equity Shareholders | Rs 2.24 Cr |
|---|
What the company held
Bank Balances in the Current Account of the Company
Creditors and claims
As the order records them
Post the public announcement, the Liquidator did not receive any proof of claim from any other person during the period stipulated for submission of claims i.e. from 23.03.2021 till 22.04.2021. However, two shareholders of the Company i.e. LVP Management Inc., USA and Lightspeed Venture Partners China LLC submitted their claims in Form F on 21 May, 2021, well past the last date of submission due to ongoing Covid pandemic and the same have been admitted by the Liquidator.
Creditor approval
Not applicable as the Applicant had no creditors as on date of passing of Special Resolution
Litigation and delays
The frictions the order records
Litigation
no inquiry/inspection/complaint/legal action has been proceeded/pending against the Applicant Company
Why it took as long as it did
due to unforeseen delay in remittance of balance amounts to the shareholders by the AD Bank in absence of RBI approval
Figures come from IBBI, NCLT, MCA and other official sources. Methodology · Report an error
See other companies in the voluntary liquidation register.