Sree Sankari Benefit Funds 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 21.00 L |
|---|---|
| Amount due to creditors | Not reported |
| Amount paid to creditors | Not reported |
| Liquidation expenses | Rs 3.00 L |
| Surplus to members | Rs 18.00 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 register289 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
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 18.00 L in surplus was returned to members.
The NCLT order
Read from the document itself
- Bench
- DIVISION BENCH - I, CHENNAI
- Case number
- CP(IB)/209(CHE)/2022
Dissolved effective order date
What the bench said
Affairs of the Company have been completely wound up and the assets of the Applicant Company have been completely liquidated
Statutory observations
Income Tax Department has not any objection or raised any issue in relation to the same
Why the company wound up
In the order's own words
Decline in business activities and lack of feasible business opportunities
- What it was set up to do
- Nidhi Company / Mutual benefit society
- What it was doing by the end
- Stopped business operations in the year 2012 due to decline in business activities and surrendered NBFC (Nidhi) Certificate with RBI in the year 2016
The wind-down, stage by stage
5 dated stages
- 23 Nov 2021 Board resolution to wind up
- 15 Dec 2021 Liquidation commenced
- 16 Dec 2021 Public announcement
- 29 Jan 2022 Preliminary report
- 9 Nov 2022 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
- Public
- Category
- Company limited by shares
- Sub-category
- Non-government company
- Listing
- Unlisted
- State
- Tamil Nadu
- ROC
- ROC Coimbatore
- Industry
- Finance
- PIN
- 624001
- Incorporated
- 28 Feb 1997
- Authorised capital
- Rs 36.00 L
- Paid-up capital
- Rs 28.13 L
- CIN
- U65991TZ1997PLC007748
- Registered office
- SKC TOWER BUILDING174/2 EAST CAR STREET 174/2 EAST CAR STREET,DINDIGUL,Dindigul,Tamil Nadu,624001-India
Directors named in the order
Sangappan Loganathan Saroja · Boriya Gounder Ramasamy · Sangappan Loganathan Sivasankaran
Shareholding as the order states it
| Member | Shares | % |
|---|---|---|
| Promoters | 1752300 | 62.30 |
| Individuals holding shares more than ten shares | 1040000 | 36.97% |
| Individuals holding ten and below shares | 20500 | 0.73% |
Creditors and claims
As the order records them
Creditor approval
Company had no debt and only current liabilities to the extent of Rs.45,402/- towards director's salary which was waived off
Figures come from IBBI, NCLT, MCA and other official sources. Methodology · Report an error
See other companies in the voluntary liquidation register.