Magizham Nidhi 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 27.00 L. Reported payout equals 100.0% of dues.
All financial figures & reading notes
| Realisation of assets | Rs 30.00 L |
|---|---|
| Amount due to creditors | Rs 27.00 L |
| Amount paid to creditors | Rs 27.00 L |
| Liquidation expenses | Rs 3.00 L |
| Surplus to members | Rs 0 |
"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 register100 days faster 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
below 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. Creditor dues were met with no surplus remaining after costs.
The NCLT order
Read from the document itself
- Bench
- DIVISION BENCH – II , CHENNAI
- Case number
- CP(IB)/312/(CHE)2025
- Order date
- 2 Mar 2026
Dissolved effective order date
Statutory observations
The company was unable to file Form INC 20A and annual filings as Nidhi application was rejected
Why the company wound up
In the order's own words
- What it was set up to do
- carrying on the business of a Nidhi / Mutual Benefit Company
- What it was doing by the end
- The company was unable to carry on its intended business as the application filed for declaration as Nidhi Company was rejected
The wind-down, stage by stage
10 dated stages
- 5 Sep 2024 Board resolution to wind up
- 18 Sep 2024 Declaration of solvency
- 30 Sep 2024 Liquidation commenced
- 5 Oct 2024 Public announcement
- 30 Oct 2024 Last date for creditors to claim
- 13 Nov 2024 Preliminary report
- 18 Aug 2025 Final report
- 20 Aug 2025 Final report filed with the ROC
- 2 Mar 2026 NCLT order
- 2 Mar 2026 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
- Under Liquidation
- Company class
- Public
- Category
- Company limited by shares
- Sub-category
- Non-government company
- Listing
- Unlisted
- State
- Tamil Nadu
- ROC
- ROC Coimbatore
- Industry
- Finance
- PIN
- 641407
- Incorporated
- 15 Nov 2023order says 15 Sep 2023
- Authorised capital
- Rs 30.00 L
- Paid-up capital
- Rs 30.00 L
- CIN
- U64990TZ2023PLN029909
- Registered office
- D.No 8/16/5,,Thennampalayam,Palladam,Coimbatore,Tamil Nadu,641407-India
The money, as the order printed it
Rs as stated in the document — not the crore figures above
- Total receipts
- Rs 29.87 L
- Total payments
- Rs 29.87 L
- Liquidation cost
- Rs 3.03 L
Payments
| Liquidation Cost | Rs 3.03 L |
|---|---|
| Equity Shareholders Distribution | Rs 26.83 L |
What the company held
cash and bank balance and recovery of short -term loans and advances
Creditors and claims
As the order records them
No claims whatsoever were received from any creditors, employees, workmen or statutory authorities
Creditor approval
NA - No creditors
Litigation and delays
The frictions the order records
Litigation
There is no pending proceedings or assessments before statutory authorities, and pending litigations, in respect of the corporate person.
Why it took as long as it did
delay in opening and closing of liquidation bank account and due to delay in realisation of liquidation funds into the liquidation bank account of the company
Figures come from IBBI, NCLT, MCA and other official sources. Methodology · Report an error
See other companies in the voluntary liquidation register.