Paarkadel Ballast Technology 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
Reported amountsAmount due to creditors: Rs 1.00 L. Reported payout equals 100.0% of dues.
All financial figures & reading notes
| Realisation of assets | Rs 6.07 Cr |
|---|---|
| Amount due to creditors | Rs 1.00 L |
| Amount paid to creditors | Rs 1.00 L |
| Liquidation expenses | Rs 7.00 L |
| Surplus to members | Rs 6.24 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 register1,073 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 6.24 Cr in surplus was returned to members.
The NCLT order
Read from the document itself
- Bench
- Mumbai Bench Court-III
- Case number
- C.P. NO. (IB) 30/MB/C-III/2023
- Order date
- 7 Oct 2024
What the bench said
The affairs of the company have been completely wound up and its assets have been liquidated. Voluntary liquidation is not with an intent to defraud any individual or statutory authority.
Statutory observations
No adverse intimations have been received from any statutory authority against such dissolution of the company, despite a public announcement being made.
Why the company wound up
In the order's own words
Could not obtain the registration of the patent in Germany and India and could not commence the business activities of the company.
- What it was set up to do
- To carry on, acquire, run, promote and establish the business of industrial manufacture and/or trading in ballast water filter and ballast water management system unit
- What it was doing by the end
- the Corporate Applicant was required to register a patent in Germany as well as in India. Despite the efforts, the Corporate Applicant could not obtain the registration of the patent and could not commence the business activities of the company.
The wind-down, stage by stage
8 dated stages
- 20 Feb 2020 Liquidation commenced
- 19 Feb 2022 Board resolution to wind up
- 19 Feb 2022 Declaration of solvency
- 3 Mar 2022 Public announcement
- 11 Apr 2022 Preliminary report
- 21 Nov 2022 Final report
- 7 Oct 2024 NCLT order
- 7 Oct 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
- Maharashtra
- ROC
- ROC Mumbai
- Industry
- Business Services
- PIN
- 400602
- Incorporated
- 17 Feb 2017
- Authorised capital
- Rs 5.53 Cr
- Paid-up capital
- Rs 5.51 Cr
- CIN
- U74999MH2017PTC291377
- Registered office
- 202, M.V. Everest, Ravi Indl Comp, Bhakti Mandir,Panchpakhadi, Thane,Thane,Maharashtra,400602-India
Directors named in the order
Puddukarai Srinivasan Ramchandran · Lalitha Ramchandran
The money, as the order printed it
Rs as stated in the document — not the crore figures above
- Total receipts
- Rs 6.08 Cr
- Liquidator fee
- Rs 4.00 L
Receipts
| Existing Bank Account | Rs 55.35 L |
|---|---|
| Receipts from Matured Fixed Deposits | Rs 5.53 Cr |
| Refund of Value Added Tax | Rs 4,220 |
| Cash Deposit | Rs 20,000 |
Payments
| Professional Fees | Rs 54,000 |
|---|---|
| Salary, bonus and other dues | Rs 84,700 |
| Payment to Liquidator | Rs 4.32 L |
| Professional Fees | Rs 2.13 L |
| Bank Charges | Rs 781 |
| Salary, Bonus and other dues | Rs 71,950 |
| Payment to Creditors | Rs 10,800 |
| Advertisement Expenses | Rs 16,540 |
| TDS on professional fees | Rs 58,306 |
| GST | Rs 1,848 |
| Miscellaneous Liquidation Expenses | Rs 26,583 |
What the company held
Balance at bank, Cash in Hand, Fixed Deposit, Other Current assets accrued interest, TDS Refund, Margin Money
Creditors and claims
As the order records them
No claims were lodged by any claimant.
Creditor approval
The Company had no secured creditors. Unsecured creditor payment made after due verification.
Figures come from IBBI, NCLT, MCA and other official sources. Methodology · Report an error
See other companies in the voluntary liquidation register.