Limnea Technologies 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 6.00 L. Reported payout equals 100.0% of dues.
All financial figures & reading notes
| Realisation of assets | Rs 68.00 L |
|---|---|
| Amount due to creditors | Rs 6.00 L |
| Amount paid to creditors | Rs 6.00 L |
| Liquidation expenses | Rs 1.00 L |
| Surplus to members | Rs 61.00 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 register87 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 61.00 L in surplus was returned to members.
The NCLT order
Read from the document itself
- Bench
- BENGALURU BENCH, BENGALURU
- Case number
- C.P (IB) No. 105/BB/2021
- Order date
- 29 Aug 2022
Dissolved with effect from the date of the present order.
What the bench said
Therefore, the affairs of the corporate person have been completely wound up and its assets have been liquidated and nothing remains to be liquidated. Thus, the compliances of Section 59 and other relevant provisions of the IBC, 2016 r/w. IBBI (Voluntary Liquidation Process) Regulations, 2017 have been made within 12 months from the date of commencement of the liquidation proceedings.
Statutory observations
The Status Report filed on behalf of the Registrar of Companies to the Petition vide Diary No. 1296 dated 28.03.2022 is taken on record. IT Department vide letter dated 08.07.2021 stated no objection. GST Department given no objection certificate dated 29.06.2021. Official Liquidator Report No.67 of 2022 filed vide Dairy No. 3523 dated 19.08.2022 taken on record.
Why the company wound up
In the order's own words
Owing to the hardships being faced by the Applicant Company in keeping the business a running concern and the projects not developing it has undoubtedly proved to be very difficult financially and operationally as well.
- What it was set up to do
- To research, development, procure patents, implement, buy, sell, manufacture, import, export, distribute and otherwise deal in all software products for the healthcare and wellness industry, including mindfulness, meditation, yoga, mental wellbeing from allowing end-users to effectively track and maintain their health to connecting them to doctors etc.
- What it was doing by the end
- Analyzed its development of various software projects, however it has not resulted and fructified into commercially viable project
The wind-down, stage by stage
7 dated stages
- 23 Sep 2020 Board resolution to wind up
- 23 Sep 2020 Declaration of solvency
- 23 Sep 2020 Liquidation commenced
- 26 Sep 2020 Public announcement
- 4 Nov 2020 Preliminary report
- 29 Aug 2022 NCLT order
- 29 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
- Karnataka
- ROC
- ROC Bangalore
- Industry
- Community, personal and Social Services
- PIN
- 560076
- Incorporated
- 24 Jan 2018order says 14 Jan 2018
- Authorised capital
- Rs 10.00 L
- Paid-up capital
- Rs 5.33 L
- CIN
- U85300KA2018PTC109825
- Registered office
- E/1-15/1,1st Cross ,Syndicate Bank Colony,Off Bannerghatta Road,Arekere,Bangalore,Bangalore,Karnataka,560076-India
The money, as the order printed it
Rs as stated in the document — not the crore figures above
- Total receipts
- Rs 67.85 L
- Total payments
- Rs 67.85 L
- Liquidator fee
- Rs 88,500
- Liquidation cost
- Rs 41,966
Receipts
| Balance at Bank | Rs 67.53 L |
|---|---|
| Other Receipts | Rs 32,215 |
Payments
| Liquidation fee | Rs 88,500 |
|---|---|
| Payment of TDS/Advance Tax | Rs 3,010 |
| Liquidation Expenses (newspaper advertisement, Valuation, filings, fee etc) | Rs 41,966 |
| Payment of consultancy fees for other support services | Rs 5.92 L |
| Payment of Auditors fee for audit of Liquidation account | Rs 5,900 |
| Remittance charges to bank | Rs 59 |
| Refund of share capital (including mutual adjustments) | Rs 60.54 L |
| Balance at bank | Rs 1 |
Creditors and claims
As the order records them
Claims received from the Operational Creditors on 21.10.2020 and payments were made to the creditors.
Creditor approval
Claims from the Operational Creditors received on 21.10.2020 and payments were made to the creditors.
Figures come from IBBI, NCLT, MCA and other official sources. Methodology · Report an error
See other companies in the voluntary liquidation register.