Voluntary liquidation · IBC s.59

Nest Hotel Private Limited

CIN · U55101GJ1989PTC012910 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

11 Sep 2023

View process timeline

What did the wind-down return?

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

Assets realised

Rs 1.93 Cr

Value realised from assets

Paid to creditors

Rs 0

No creditor dues reported

Surplus to members

Rs 1.88 Cr

Reported surplus amount

Where the money went

Share of realisation

Creditors · 0.0%Rs 0

Expenses · 2.6%Rs 5.00 L

Members · 97.4%Rs 1.88 Cr

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 1.93 Cr
Amount due to creditors	Rs 0
Amount paid to creditors	Rs 0
Liquidation expenses	Rs 5.00 L
Surplus to members	Rs 1.88 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 register

Time to dissolve1,103 days

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

Cost of the wind-down2.6% of realisation

the median is 9.5%

Surplus returnedYes

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

SizeRs 1.93 Cr

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 1.88 Cr in surplus was returned to members.

The NCLT order

Read from the document itself

Bench: Ahmedabad Special Bench Court - 1
Case number: C.P.(IB)/73(AHM)2022
Order date: 11 Sep 2023

Nest Hotel Private Limited stands dissolved from the date of this Order.

What the bench said

Assets have been completely liquidated. The affairs of the company have been wound up. This application is complete u/s 59(7) of the Code. Necessary compliances as per provisions of the Code have been made by the Corporate Person and the Liquidator.

Statutory observations

No tax outstanding per Income Tax Department order dated 31.03.2021. No demand/objection received from EPFO, ESIC, and VAT Department.

11 Sep 2023 · C.P.(IB)/73(AHM)2022 · 12 pages Read the order

Why the company wound up

In the order's own words

There being no business activities since 2015 as it has sold of the hotel business and assets due to losses and there being no future of the business. It was not financially viable to carry out the business activity of the Company.

What it was set up to do: To manage, promote in all aspects to carry on business of or deal in hotel, motel, resorts, lodging, boarding houses, restaurants, cafes, clubs, holiday homes etc. in Gujarat and in any part of world.
What it was doing by the end: No business activities since 2015 as it has sold of the hotel business and assets due to losses and there being no future of the business.

The wind-down, stage by stage

11 dated stages

1,103 days to dissolve

24 Aug 2020 Board resolution to wind up
24 Aug 2020 Declaration of solvency
3 Sep 2020 Liquidation commenced
5 Sep 2020 Public announcement
3 Oct 2020 Last date for creditors to claim
15 Oct 2020 Preliminary report
5 Feb 2022 Final report
5 Feb 2022 Final report filed with the ROC
5 Feb 2022 Final report filed with IBBI
11 Sep 2023 NCLT order
11 Sep 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: Trading
PIN: 380009
Incorporated: 20 Oct 1989
Authorised capital: Rs 3.00 Cr
Paid-up capital: Rs 1.54 Cr
CIN: U55101GJ1989PTC012910
Registered office: FF101,Shoppers Plaza -6 ,Near Govt.servant Society Opp.Municipal Market,C.G.Road,Navarangpu,ra,Ahmedabad,Ahmedabad,Gujarat,380009-India

Directors named in the order

Shri Deepak Mulchand Sabnani · Smt. Vaishali Deepak Sabnani · Smt. Ritu Rajkumar Sabnani · Shri Khemchand D. Bhagchandani · Smt. Veena Khemchand Bhagchandani

Shareholding as the order states it

Member	Shares	%
Shri Deepak Mulchand Sabnani	3,61,650	23.55%
Smt. Vaishali Deepak Sabnani	1,47,800	9.63%
Smt. Ritu Rajkumar Sabnani	4,89,647	31.89%
Shri Khemchand D. Bhagchandani	2,94,253	19.16%
Smt. Veena Khemchand Bhagchandani	2,42,150	15.77%

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

Distributed to members ·

IBBI-Corporate Voluntary Liquidation Account (for deceased shareholder Khemchand Dayaram Bhagchandani)	Rs 35.78 L

paid-up share capital / shareholding proportion

Unclaimed proceeds

Share of the deceased shareholder (Shri Khemchand Dayaram Bhagchandani), in absence of succession certificate, amounting to Rs. 35,77,942/-, was deposited in IBBI-Corporate Voluntary Liquidation Account.

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.