Simulity Labs 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
Reported amountsCreditor dues are not reported, so the payout cannot be assessed against them.
All financial figures & reading notes
| Realisation of assets | Rs 0 |
|---|---|
| Amount due to creditors | Not reported |
| Amount paid to creditors | Not reported |
| Liquidation expenses | Rs 0 |
| Surplus to members | Not reported |
"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 register66 days slower than the median of 618 days across 1,597 completed wind-downs
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.
The NCLT order
Read from the document itself
- Bench
- BENGALURU BENCH
- Case number
- CP No. 188/BB/2020
Dissolved effective order date
What the bench said
the learned Liquidator has complied with all the conditions and procedural requirements as specified under various provisions of Section 59 of the Insolvency and Bankruptcy Code, 2016 and of the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017
Why the company wound up
In the order's own words
Owing to diminution in Company's operations for the last two years prior to Liquidation Commencement date and on having no prospect of getting new projects in the field in which the company operates
- What it was set up to do
- engaging in the business of Subscriber Identification Number application, testing, trade, manufacture, import, export, develop, personalized test, distribute SIM cards and other telecom and electronic products, etc.
The wind-down, stage by stage
7 dated stages
- 26 Dec 2018 Board resolution to wind up
- 26 Dec 2018 Declaration of solvency
- 17 Jan 2019 Liquidation commenced
- 22 Jan 2019 Public announcement
- 2 Feb 2019 Preliminary report
- 16 Feb 2019 Last date for creditors to claim
- 1 Dec 2020 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 (Liquidated)
- Company class
- Private
- Category
- Company limited by shares
- Sub-category
- subsidiary of company incorporated outside India
- Listing
- Unlisted
- State
- Karnataka
- ROC
- ROC Bangalore
- Industry
- Business Services
- PIN
- 560037
- Incorporated
- 1 Feb 2017
- Authorised capital
- Rs 10.00 L
- Paid-up capital
- Rs 10.00 L
- CIN
- U74999KA2017FTC117864
- Registered office
- A-305, Sterling Shalom ITPL Main Road, Kundalahalli Colony,Bangalore,Bangalore,Karnataka,560037-India
Directors named in the order
Sathyanarayanan Sargunesan · Venugopalan Venkataraman
The money, as the order printed it
Rs as stated in the document — not the crore figures above
- Total receipts
- Rs 35,525
- Total payments
- Rs 35,525
What the company held
bank balance and proceeds from investment, other than Marketable Securities
Creditors and claims
As the order records them
Creditor approval
As on the date of the liquidation commencement there were no creditors in the company. Hence, no approval of creditors was required to be obtained.
Litigation and delays
The frictions the order records
Litigation
there are no legal proceedings against the Corporate person.
Why it took as long as it did
Due to pendency of NOC from the Income Tax Authority there was a delay in completion of liquidation process.
Figures come from IBBI, NCLT, MCA and other official sources. Methodology · Report an error
See other companies in the voluntary liquidation register.