Voluntary liquidation · IBC s.59

Lovepac Converting Private Limited

CIN · U24297TN2009PTC112768 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

18 Nov 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 18.00 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 7.00 L

MembersRs 18.00 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 7.00 L
Surplus to members	Rs 18.00 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 dissolve991 days

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

Cost of the wind-down29.2% 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 18.00 L in surplus was returned to members.

The NCLT order

Read from the document itself

Bench: DIVISION BENCH -II, CHENNAI
Case number: CP(IB)/196(CHE)/2022
Order date: 18 Nov 2022

Dissolved effective order date

What the bench said

affairs of the Company have been completely wound up and the assets of the Applicant Company have been completely liquidated and as such the Applicant Company can be considered for dissolution

Statutory observations

Applicant has duly intimated the jurisdictional Assessing Officer under Section 178 of the Income Tax Act, 2016, and as per IBBI Circular dated 15.11.2021 mere intimation will suffice and NOC is not required.

18 Nov 2022 · CP(IB)/196(CHE)/2022 · 8 pages Read the order

Why the company wound up

In the order's own words

realize the available assets thereof and the distribute the proceeds to the members

What it was set up to do: manufacturing, converting, designing, developing, producing, selling, importing, exporting, procuring, trading on wholesale cash and carry business, distributing or otherwise dealing in polymer components, adhesives and semiconductor systems

The wind-down, stage by stage

6 dated stages

991 days to dissolve

2 Mar 2020 Board resolution to wind up
2 Mar 2020 Declaration of solvency
2 Mar 2020 Liquidation commenced
21 May 2020 Preliminary report
18 Nov 2022 NCLT order
18 Nov 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 Chennai
Industry: Manufacturing (Metals and Chemicals, and products thereof)
PIN: 600093
Incorporated: 27 Jul 2009order says 27 Jun 2009
Authorised capital: Rs 18.50 Crorder says Rs 185.00 Cr
Paid-up capital: Rs 18.50 Cr
CIN: U24297TN2009PTC112768
Registered office: Regus Chennai Office Centre Pvt Ltd 3rd flr,Shyamala Tower,No.136,Arcot Rd,S,aligramam,Chennai,Chennai,Tamil Nadu,600093-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

Total receipts: Rs 24.06 L

Receipts

Cash in hand and at Bank	Rs 24.06 L
Other Assets (Short term loans and advances)	Rs 17,370

Distributed to members · 2 May 2022

M/s. Nolato AB, Sweden	Rs 17.50 L

shareholding

What the company held

Cash in hand and at Bank, Other Assets (Short term loans and advances)

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.

Creditors and claims

As the order records them

no claims from any stakeholders were received till the end of the period fixed for submission of claims

Creditor approval

Nil creditors as on Liquidation commencement date, therefore the proviso under Section 59(3)(c) of the Code read with Regulation 3(1)(c) as to the approval of creditors is not applicable