Poseidon Diving Operators 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 amountsCreditor dues are not reported, so the payout cannot be assessed against them.
All financial figures & reading notes
| Realisation of assets | Rs 46.00 L |
|---|---|
| Amount due to creditors | Not reported |
| Amount paid to creditors | Not reported |
| Liquidation expenses | Rs 2.00 L |
| Surplus to members | Rs 43.00 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 register874 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
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. Here, Rs 43.00 L in surplus was returned to members.
The NCLT order
Read from the document itself
- Bench
- BENGALURU BENCH, BENGALURU
- Case number
- C.P. (IB)No.45/BB/2022
- Order date
- 24 Jan 2023
Dissolved with effect from the date of the present order.
What the bench said
the affairs of the Corporate Person have been completely wound up and its assets have been liquidated and nothing remains to be liquidated.
Why the company wound up
In the order's own words
- What it was set up to do
- involved in the business as tour operators/ tourist water sports operators, conduct deep sea diving tours, underwater tours, marine tours, scuba diving services, underwater sports and act as consultants in this behalf etc.
The wind-down, stage by stage
12 dated stages
- 4 Dec 2018 Board resolution to wind up
- 24 Dec 2018 Declaration of solvency
- 24 Dec 2018 Liquidation commenced
- 28 Dec 2018 Public announcement
- 23 Jan 2019 Last date for creditors to claim
- 7 Feb 2019 Preliminary report
- 26 Jul 2021 Final report
- 29 Jul 2021 Final report filed with the ROC
- 29 Jul 2021 Final report filed with IBBI
- 4 Aug 2021 Dissolution application filed
- 24 Jan 2023 NCLT order
- 24 Jan 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
- Karnataka
- ROC
- ROC Bangalore
- Industry
- Transport, storage and Communications
- PIN
- 560080
- Incorporated
- 8 Aug 2005
- Authorised capital
- Rs 60.00 L
- Paid-up capital
- Rs 52.00 L
- CIN
- U63040KA2005PTC036916
- Registered office
- 493/1,9TH CROSS,10TH MAIN,RMV EXTENSION SADHASIVA NAGAR BANGALORE.,BANGALORE.,Bangalore,Karnataka,560080-India
Shareholding as the order states it
| Member | Shares | % |
|---|---|---|
| Parth Dinubhai Amin | ||
| Indu Sheaker | ||
| Daniel J White |
The money, as the order printed it
Rs as stated in the document — not the crore figures above
- Total receipts
- Rs 45.60 L
- Total payments
- Rs 45.60 L
- Liquidator fee
- Rs 88,500
Receipts
| Bank balance realized 27 Mar 2019 | Rs 45.60 L |
|---|
Payments
| Bank charges | Rs 236 |
|---|---|
| Ledger folio charges | Rs 94 |
| Payment to centigrade brand creative solution Pvt. Ltd. | Rs 15,922 |
| Payment to GV Associates reimbursement | Rs 5,500 |
| Payment to Arjun & Co. | Rs 5,000 |
| Payment to G.Vasudevan | Rs 88,500 |
| Payment to SR associates | Rs 11,800 |
| Payment to MOJ associates | Rs 42,500 |
| Payment to SR associates | Rs 11,800 |
| Payment to SR associates | Rs 29,500 |
| Payment to L CS Bharathi | Rs 5,000 |
| Payment to Mr. Parth Dinubhai Amin | Rs 21.31 L |
| Payment to Mr. Indu Sheaker | Rs 41,007 |
| Payment to Mr. Daniel J White | Rs 23.88 L |
Creditors and claims
As the order records them
The liquidator has not received any claims from the stakeholder's i.e. Workers, Employees, Creditors or any other third party stakeholders.
Litigation and delays
The frictions the order records
Why it took as long as it did
Due to the said RBI compounding process and delay in outward remittance to the foreign equity shareholder, the Petitioner further stated that the liquidation process had continued for more than twelve months
Figures come from IBBI, NCLT, MCA and other official sources. Methodology · Report an error
See other companies in the voluntary liquidation register.