Salzer Magnet Wires 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 10.77 Cr. Reported payout equals 100.0% of dues.
All financial figures & reading notes
| Realisation of assets | Rs 11.01 Cr |
|---|---|
| Amount due to creditors | Rs 10.77 Cr |
| Amount paid to creditors | Rs 10.77 Cr |
| Liquidation expenses | Rs 24.00 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 register1,508 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. Creditor dues were met with no surplus remaining after costs.
The NCLT order
Read from the document itself
- Bench
- DIVISION BENCH (COURT– I) CHENNAI
- Case number
- CP(IBC)/133(CHE)/2025
- Order date
- 9 Oct 2025
Dissolved effective order date
What the bench said
The affairs of the company have been completely wound up, assets completely liquidated, and the company deserves to be dissolved under Section 59(8) of IBC, 2016.
Statutory observations
The affairs of the Company have been completely wound up and assets completely distributed, complying with applicable regulations.
Why the company wound up
In the order's own words
- What it was set up to do
- To manufacture, trade, purchase, sale, import and export with or without enamelled coated copper wires, Magnet Wire, Coil Wire, Inductor Wire, Transformer Wire, Motor Coil Wire, Insulated Wires, Winding Coils for Inductors, Transformers, Lighting, Ballasts, Relays and Timers, Motor applications, Auto Devices, electrical switchgear Industry and Electronics Industry, both for the domestic and industrial use, etc.
The wind-down, stage by stage
11 dated stages
- 13 Nov 2019 Board resolution to wind up
- 14 Dec 2019 Declaration of solvency
- 14 Dec 2019 Liquidation commenced
- 13 Jan 2020 Last date for creditors to claim
- 23 Jan 2020 Preliminary report
- 31 Mar 2025 Final report
- 31 Mar 2025 Final report filed with the ROC
- 31 Mar 2025 Final report filed with IBBI
- 9 Oct 2025 Last hearing
- 9 Oct 2025 NCLT order
- 9 Oct 2025 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
- Public
- Category
- Company limited by shares
- Sub-category
- Non-government company
- Listing
- Unlisted
- State
- Tamil Nadu
- ROC
- ROC Coimbatore
- Industry
- Manufacturing (Machinery and Equipments)
- PIN
- 641104
- Incorporated
- 8 Sep 2008
- Authorised capital
- Rs 20.00 Cr
- Paid-up capital
- Rs 13.40 Cr
- CIN
- U31300TZ2008PLC014746
- Registered office
- 882/3, Coimbatore Main Road Bettathapuram,Coimbatore,Tamil Nadu,641104-India
The money, as the order printed it
Rs as stated in the document — not the crore figures above
- Total receipts
- Rs 11.01 Cr
- Total payments
- Rs 11.01 Cr
- Liquidation cost
- Rs 24.16 L
Receipts
| Sale of Assets | Rs 3.80 L |
|---|---|
| Refund from Statutory Authorities | Rs 2.69 L |
| Cash / Bank balance | Rs 16.80 L |
| Dividend Income | Rs 5.23 L |
| Distribution of unsold asset (10,29,021 equity shares of Salzer Electronics Limited) | Rs 10.72 Cr |
| Unpaid dividend which was disbursed to entitled shareholders directly from the dividend account | Rs 30,000 |
Payments
| Liquidation Costs | Rs 24.16 L |
|---|---|
| Any remaining Debts and Dues | Rs 76,700 |
| Equity Shareholders (Liquidation funds deposited to IBBI) | Rs 23.94 L |
| Equity Shareholders (Distribution of unsold asset) | Rs 10.72 Cr |
| Equity Shareholders (Unpaid dividend disbursed) | Rs 30,000 |
What the company held
Investment holding of 10,30,000 equity shares in Salzer Electronics Limited and bank balance.
Creditors and claims
As the order records them
No claims were received except an outstanding debt of Rs.76,700 payable to service provider 'Swamy & Ravi, Chartered accountants' which was paid in full.
Creditor approval
Approval of Resolution passed under Section 59(3)(c) by creditors (2/3rd in value) if any, within 7 days of the date of Resolution.
Litigation and delays
The frictions the order records
Litigation
No pending litigations or any PUFE Transactions as stipulated under Sections 43, 45, 50, and 66 of IBC.
Figures come from IBBI, NCLT, MCA and other official sources. Methodology · Report an error
See other companies in the voluntary liquidation register.