Sidhivinayak Financial Services 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 2.04 Cr |
|---|---|
| Amount due to creditors | Not reported |
| Amount paid to creditors | Not reported |
| Liquidation expenses | Rs 2.00 L |
| Surplus to members | Rs 2.02 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 register424 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 2.02 Cr in surplus was returned to members.
The NCLT order
Read from the document itself
- Bench
- Chandigarh Bench
- Case number
- CP (IB) No.01/Vol./Chd/Chd/2020
- Order date
- 31 Jan 2022
Dissolved in terms of Section 59(8) of the Insolvency & Bankruptcy Code, 2016 with effect from the date of the present order.
What the bench said
The main intention for the company to wind up its services is that company decided to close down its business operations and doesn't intend to carry on its business operations and pursue objects for which it was incorporated. Further, the applicant has informed concerned authorities and made paper publications, completed final distribution of assets, closed bank account, and submitted final report to IBBI and RoC.
Statutory observations
IBBI reported that the report under Regulation 38(2) has been received and the Board has no other role. RoC reported no inquiry/inspection/complaint/legal action pending. Income Tax Department reported no demand outstanding nor any assessment/penalty/prosecution proceedings pending.
Why the company wound up
In the order's own words
company decided to close down its business operations and doesn't intend to carry on its business operations and pursue objects for which it was incorporated.
- What it was set up to do
- to acquire by purchase, lease, exchange or otherwise and to sell, transfer, alter, assign, dispose or deal in land, building, and hereditaments of any tenure on description and estate or interest therein and to manage land buildings and other property and to build property and construction activities.
- What it was doing by the end
- The Company has not been carrying on any business sings last many years.
The wind-down, stage by stage
12 dated stages
- 12 Jan 2019 Board resolution to wind up
- 24 Jan 2019 Liquidation commenced
- 9 Feb 2019 Declaration of solvency
- 21 Feb 2019 Public announcement
- 20 Mar 2019 Last date for creditors to claim
- 4 Apr 2019 Preliminary report
- 15 Oct 2019 Final report filed with IBBI
- 20 Oct 2019 Final report filed with the ROC
- 16 Dec 2019 Last hearing
- 25 Feb 2020 Final report
- 1 Dec 2021 Dissolved
- 31 Jan 2022 NCLT order
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 (Liquidated)
- Company class
- Public
- Category
- Company limited by shares
- Sub-category
- Non-government company
- Listing
- Unlisted
- State
- Haryana
- ROC
- ROC Delhi
- Industry
- Finance
- PIN
- 122002
- Incorporated
- 16 May 2012order says 1 Nov 1976
- Authorised capital
- Rs 2.10 Cr
- Paid-up capital
- Rs 2.05 Cr
- CIN
- U65999HR2012PLC045962
- Registered office
- 9 H, First Floor, Moulsari Avenue DLF City, Phase 3,Gurgaon,Gurgaon,Haryana,122002-India
The money, as the order printed it
Rs as stated in the document — not the crore figures above
What the company held
cash in hand, short term loans & advances and cash at bank
Creditors and claims
As the order records them
The Liquidator prepared the list of stakeholders on the basis of claims received from the creditors first such list was prepared as on 31.03.2019 and then as on 10.05.2019 when one of operational creditor lodged its claim. Thereafter again, the liquidator prepared the list of stakeholders as on 05.07.2019 when the liability of one of the creditors i.e. Sukh Samridhi Infra was appointed and taken over by Mrs. Amarjit Kaur Dhaliwal, Mrs. Narinder Kaur Thind and Mrs. Gurpreet Kaur Gill in terms of the resolution passed by the stakeholders at their meeting held on 05.07.2019. Again, the liquidator prepared the list of stakeholders as on 06.07.2019 and finally as on 10.08.2019 after the full and final payment was made to small shareholders holding one share each.
Creditor approval
Since, there are no creditors in the company therefore, no claim was submitted by any creditor
Litigation and delays
The frictions the order records
Litigation
No inquiry/inspection/complaint/legal action has been proceeded/pending against the subject company.
Figures come from IBBI, NCLT, MCA and other official sources. Methodology · Report an error
See other companies in the voluntary liquidation register.