Syndbank 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
Share of realisationAmount due to creditors: Rs 0. No payout percentage is calculated against zero or negative dues.
All financial figures & reading notes
| Realisation of assets | Rs 3.11 Cr |
|---|---|
| Amount due to creditors | Rs 0 |
| Amount paid to creditors | Rs 0 |
| Liquidation expenses | Rs 64.00 L |
| Surplus to members | Rs 2.47 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 register220 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
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 2.47 Cr in surplus was returned to members.
The NCLT order
Read from the document itself
- Bench
- SPECIAL BENCH, BENGALURU
- Case number
- C.P. (IB) No.41/BB/2023
- Order date
- 25 Jul 2023
Syndbank Services Limited, Applicant Company is hereby 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.
The wind-down, stage by stage
11 dated stages
- 30 Apr 2022 Declaration of solvency
- 22 Jun 2022 Liquidation commenced
- 24 Jun 2022 Public announcement
- 21 Jul 2022 Last date for creditors to claim
- 5 Aug 2022 Preliminary report
- 25 Jan 2023 Final report
- 25 Jan 2023 Final report filed with IBBI
- 8 Feb 2023 Final report filed with the ROC
- 16 Feb 2023 Dissolution application filed
- 25 Jul 2023 NCLT order
- 25 Jul 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
- Public
- Category
- Company limited by shares
- Sub-category
- Non-government company
- Listing
- Unlisted
- State
- Karnataka
- ROC
- ROC Bangalore
- Industry
- Business Services
- PIN
- 560002
- Incorporated
- 25 Jan 2006
- Authorised capital
- Rs 10.00 Cr
- Paid-up capital
- Rs 25.00 L
- CIN
- U72300KA2006PLC038305
- Registered office
- 112, JC Road, First Floor Canteen Block, Head Office,Canara Bank,,Bengaluru,Bangalore,Karnataka,560002-India
The money, as the order printed it
Rs as stated in the document — not the crore figures above
- Total receipts
- Rs 3.11 Cr
- Total payments
- Rs 3.11 Cr
- Liquidator fee
- Rs 4.59 L
Receipts
| Opening Bank Balance as at 08 th July, 2022 8 Jul 2022 | Rs 10.00 L |
|---|---|
| Balance Amount transferred from the account number 04001010011687 and 9921201005895 respectively | Rs 5.16 L |
| Transfer of Term Deposit amount from SyndBank Services Ltd. on redemption | Rs 2.85 Cr |
| Interest received from Term Deposit | Rs 59,128 |
| Income Tax refund for the A.Y. 2022 -23 and A.Y. 2019-20 | Rs 9.09 L |
| Interest on Income Tax Refund | Rs 13,036 |
| Refund of rental advance from SK Pattnaik | Rs 84,000 |
Payments
| Amount paid to Mr. Ganesh P. Pai towards liquidation fees | Rs 4.59 L |
|---|---|
| Amount paid to BWSSB towards Claims | Rs 13.73 L |
| Amount paid towards Professional Fees and Audit Fees | Rs 1.22 L |
| Amount paid towards TDS payment | Rs 26.68 L |
| Amount paid towards salary, staff welfare, monthly allowance and reimbursement of expenses | Rs 16.84 L |
| Amount paid towards DMAT account maintenance charges, printing & Stationary and Membership & Subscription | Rs 36,471 |
| Amount paid towards Bank charges and Penal Interest on prematurity of Term Deposit | Rs 73,837 |
| Amount paid towards repatriation to Shareholders | Rs 2.47 Cr |
Creditors and claims
As the order records them
Received a claim from Canara Bank Bangalore Water Supply and Sewerage Board (BWSSB) Branch -II on 16th July, 2022 and paid the creditor.
Figures come from IBBI, NCLT, MCA and other official sources. Methodology · Report an error
See other companies in the voluntary liquidation register.