Pillar Industries India 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 0. No payout percentage is calculated against zero or negative dues.
All financial figures & reading notes
| Realisation of assets | Rs 8.86 Cr |
|---|---|
| Amount due to creditors | Rs 0 |
| Amount paid to creditors | Rs 0 |
| Liquidation expenses | Rs 12.00 L |
| Surplus to members | Rs 8.74 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 register41 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
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 8.74 Cr in surplus was returned to members.
The NCLT order
Read from the document itself
- Bench
- DIVISION BENCH - II, CHENNAI
- Case number
- CP(IB)/80(CHE)/2022
- Order date
- 10 Apr 2023
Dissolved effective order date
What the bench said
the intended business operations pursuant to the incorporation of the Company did not fructify and therefore the assets of the Company have been completely liquidated and as such, the Company deserves to be dissolved.
Statutory observations
GST Registration cancelled; Income Tax Assessing Officer intimated and informed that no dues are existing.
Why the company wound up
In the order's own words
Could not source business / projects owing to the COVID - 19 pandemic situation as on 30.03.2021, and it is for this reason the investors have chosen to liquidate the Company in terms of Chapter V of the Code and realize the capital infused.
- What it was set up to do
- manufacturing Gland packing and Gasket, Polytetrafluroethylene (PTFE) & Perflouroalkoxy alkanes (PFA) products, Mechanical seal parts, Bearing Products and ancillary products.
- What it was doing by the end
- Could not source business / projects owing to the COVID - 19 pandemic situation
The wind-down, stage by stage
5 dated stages
- 16 Aug 2021 Declaration of solvency
- 10 Sep 2021 Liquidation commenced
- 20 Sep 2021 Preliminary report
- 10 Apr 2023 NCLT order
- 10 Apr 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
- subsidiary of company incorporated outside India
- Listing
- Unlisted
- State
- Tamil Nadu
- ROC
- ROC Chennai
- Industry
- Manufacturing (Metals and Chemicals, and products thereof)
- PIN
- 600079
- Incorporated
- 11 Mar 2020
- Authorised capital
- Rs 10.00 Cr
- Paid-up capital
- Rs 10.00 Cr
- CIN
- U25209TN2020FTC134821
- Registered office
- No.04, First floor Murugappan Street, Sowcarpet,CHENNAI,Chennai,Tamil Nadu,600079-India
Directors named in the order
Masato Wada · Sandeep Kumar Gulecha
Shareholding as the order states it
| Member | Shares | % |
|---|---|---|
| Nippon Pillar Packaging Co. Ltd, Japan | 99,00,000 | 99 % |
| Nippon Pillar Singapore Pte Ltd, Singapore | 1,00,000 | 1 % |
Creditors and claims
As the order records them
Creditor approval
Company does not have any debt, 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.
Figures come from IBBI, NCLT, MCA and other official sources. Methodology · Report an error
See other companies in the voluntary liquidation register.