Voluntary liquidation · IBC s.59

Task Audit and Reporting Solutions Private Limited

CIN · U72900TN2012PTC087807 Company Tamil Nadu 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

28 Jul 2023

View process timeline

What did the wind-down return?

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

Assets realised

Rs 9.00 L

Value realised from assets

Paid to creditors

Rs 5.00 L

100.0% of reported dues

Surplus to members

Rs 3.00 L

Reported surplus amount

Where the money went

Share of realisation

Creditors · 55.6%Rs 5.00 L

Expenses · 11.1%Rs 1.00 L

Members · 33.3%Rs 3.00 L

Amount due to creditors: Rs 5.00 L. Reported payout equals 100.0% of dues.

All financial figures & reading notes

Amounts as recorded for this voluntary liquidation
Realisation of assets	Rs 9.00 L
Amount due to creditors	Rs 5.00 L
Amount paid to creditors	Rs 5.00 L
Liquidation expenses	Rs 1.00 L
Surplus to members	Rs 3.00 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 register

Time to dissolve135 days

483 days faster than the median of 618 days across 1,597 completed wind-downs

Cost of the wind-down11.1% of realisation

the median is 9.5%

Surplus returnedYes

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

SizeRs 9.00 L

below the median realisation of Rs 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. Here, Rs 3.00 L in surplus was returned to members.

The NCLT order

Read from the document itself

Bench: DIVISION BENCH - III, CHENNAI
Case number: CP(IB)/134(CHE)/2023
Order date: 28 Jul 2023

Dissolved effective order date

What the bench said

affairs of the Company have been completely wound up and the assets of the Company have been completely liquidated

28 Jul 2023 · CP(IB)/134(CHE)/2023 · 6 pages Read the order

Why the company wound up

In the order's own words

non-availability of business prospect and long-term financial resources and it was not financially viable to carry on the business activities of the Company

What it was set up to do: carry on the business of software and audit technology consultants, to provide integrated client/server and mainframe based business reporting including finance application audit software both commercial and scientific which is compatible with most popular hardware, software and database platforms

The wind-down, stage by stage

9 dated stages

135 days to dissolve

24 Feb 2023 Declaration of solvency
2 Mar 2023 Board resolution to wind up
15 Mar 2023 Liquidation commenced
20 Mar 2023 Public announcement
28 Apr 2023 Preliminary report
31 May 2023 Final report
10 Jun 2023 Final report filed with the ROC
28 Jul 2023 NCLT order
28 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: Private
Category: Company limited by shares
Sub-category: Non-government company
Listing: Unlisted
State: Tamil Nadu
ROC: ROC Chennai
Industry: Business Services
PIN: 600097
Incorporated: 25 Sep 2012
Authorised capital: Rs 5.00 L
Paid-up capital: Rs 3.72 L
CIN: U72900TN2012PTC087807
Registered office: No. 137, 19th Block Ezhil Nagar, Thuraipakkam,Chennai,Chennai,Tamil Nadu,600097-India