Voluntary liquidation · IBC s.59

Systopia India Private Limited

Company Telangana MCA · Dissolved under section 59(8)

The wind-down at a glance. Follow the recorded outcome, financials and people behind this company.

Process record Dissolution recorded

25 Oct 2024

View process timeline

What did the wind-down return?

Reported financials ₹ crore, shown in lakh below ₹1 crore

Assets realised

₹5.00 L

Value realised from assets

Paid to creditors

₹0

No creditor dues reported

Surplus to members

₹0

A zero surplus is recorded

Where the money went

Share of realisation

Creditors · 0.0%₹0

Expenses · 80.0%₹4.00 L

Members · 0.0%₹0

Amount due to creditors: ₹0. No payout percentage is calculated against zero or negative dues.

All financial figures & reading notes

Amounts as recorded for this voluntary liquidation
Realisation of assets	₹5.00 L
Amount due to creditors	₹0
Amount paid to creditors	₹0
Liquidation expenses	₹4.00 L
Surplus to members	₹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 register

Cost of the wind-down80.0% of realisation

the median is 9.5%

Surplus returnedNo

72% of completed wind-downs returned a surplus to members

Size₹5.00 L

below the median realisation of ₹66.00 L

Reading this record

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: Hyderabad Bench – 1
Case number: CP(IB) No. 125/59/HDB/2024
Order date: 25 Oct 2024

Corporate Person is hereby ordered to be dissolved with immediate effect

What the bench said

The Liquidator has complied with all the conditions and procedural requirements as specified under Section 59 of IBC and Regulations, 2017 and affairs of the Corporate Person have been completely wound up.

Statutory observations

ROC observed that one of the shareholders are foreign body corporate and noted discrepancy in Related Party Transactions for hosting expenses in the balance sheets.

25 Oct 2024 · CP(IB) No. 125/59/HDB/2024 · 17 pages Read the order

Why the company wound up

In the order's own words

the Company ceased its operational activities and stopped carrying any business in India

What it was set up to do: developing, designing, importing and exporting software products and services including telecom related software & services etc.
What it was doing by the end: The Company ceased its operational activities and stopped carrying any business in India

The wind-down, stage by stage

11 dated stages

30 Sep 2023 Board resolution to wind up
30 Sep 2023 Liquidation commenced
3 Oct 2023 Public announcement
13 Nov 2023 Preliminary report
26 Jun 2024 Final report
26 Jun 2024 Final report filed with the ROC
26 Jun 2024 Final report filed with IBBI
30 Sep 2024 Declaration of solvency
25 Oct 2024 Last hearing
25 Oct 2024 NCLT order
25 Oct 2024 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: Private
Category: Company limited by shares
Sub-category: Non-government company
Listing: Unlisted
State: Telangana
ROC: ROC Hyderabad
Industry: Business Services
PIN: 500018
Incorporated: 22 Oct 2018
Authorised capital: ₹10.00 L
Paid-up capital: ₹9.00 L
Registered office: Flat No.604,O-Block,Quartz-Rainbow Vista,Hari Ramhills,Moosapet, Kukatpally,HYDERABAD,Hyderabad,Telangana,500018-India

Directors named in the order

Ajay Kumar Ananthu · Christopher Brian Lyons

Company registry · MCA data as on 12 Jun 2026. Capital figures are shown separately from the wind-down financials.

The money, as the order printed it

₹ as stated in the document — not the crore figures above

Total receipts: ₹5.13 L
Total payments: ₹5.13 L
Liquidator fee: ₹1.00 L
Liquidation cost: ₹3.38 L

Receipts

Refund from IT Department	₹1.37 L
Cash / Bank balance	₹3.75 L
Other Income 18 Oct 2026	₹1,590

Payments

Liquidation Cost [Sec.53(1)(a)]	₹3.38 L
Other Debts Due, Operational Creditors [Sec. 53(1)(f)]	₹30,000
Equity Shareholders [Sec.53(1)(h)]	₹1.46 L

Distributed to members

Zucchetti UK Limited	₹1.46 L
Mr. Ramakrishna Rudrabhat	₹2

Section 53 of the IBC read with Regulation 35 of IBBI (Voluntary Liquidation Process) Regulations, 2017

What the company held

Cash & Cash Equivalents of ₹3,75,000/- and Refund due from the IT Department of ₹1,31,000/-

Unclaimed proceeds

Nil

These are the figures the NCLT order prints, in rupees. The crore figures higher up the page come from IBBI's outcome file. They are different measurements from different sources and are shown separately on purpose — the Cr/Lakh switch does not touch them.

Creditors and claims

As the order records them

Claim Form on 28.10.2023, for an amount of ₹30,000/- from NVSR & Associates LLP (Operational Creditor), statutory auditors of the Company towards payment of audit fee, which has verified and admitted on 27.11.2023.

Creditor approval

In the Meeting of Creditors held on 30.09.2023, at 04.30 P.M. the Creditors of the Company passed the resolution with two thirds majority and provided their confirmation