Varam Capital 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 14.85 Cr |
|---|---|
| Amount due to creditors | Not reported |
| Amount paid to creditors | Not reported |
| Liquidation expenses | Rs 12.00 L |
| Surplus to members | Rs 14.73 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 register175 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 14.73 Cr in surplus was returned to members.
The NCLT order
Read from the document itself
- Bench
- DIVISION BENCH - I, CHENNAI
- Case number
- CP/1216/2019
- Order date
- 9 Jul 2020
Dissolved effective order date
What the bench said
Affairs of the Company have been completely wound up and assets completely liquidated
Why the company wound up
In the order's own words
Transfer of entire business, assets and liabilities under a Business Transfer Agreement and voluntary liquidation
- What it was set up to do
- To carry on the business of financial development activities through long term loan, SME loans, housing loans and other forms of lending
- What it was doing by the end
- Non-Banking Finance Company which transferred all business, assets and liabilities via Business Transfer Agreement
The wind-down, stage by stage
9 dated stages
- 23 Apr 2019 Board resolution to wind up
- 23 Apr 2019 Declaration of solvency
- 23 Apr 2019 Liquidation commenced
- 26 Apr 2019 Public announcement
- 23 May 2019 Last date for creditors to claim
- 11 Sep 2019 Final report filed with the ROC
- 11 Sep 2019 Final report filed with IBBI
- 9 Jul 2020 NCLT order
- 9 Jul 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
- Non-government company
- Listing
- Unlisted
- State
- Tamil Nadu
- ROC
- ROC Chennai
- Industry
- Finance
- PIN
- 600040
- Incorporated
- 9 Sep 1991
- Authorised capital
- Rs 15.05 Crorder says Rs 107.75 Cr
- Paid-up capital
- Rs 9.77 Cr
- CIN
- U65993TN1991PTC087497
- Registered office
- Plot No. 3726, Door No. 41, 6th Avenue, Q- Block, Anna Nagar,Chennai,Chennai,Tamil Nadu,600040-India
Directors named in the order
Hemalatha Rajan · Venkatesan Suresh
Shareholding as the order states it
| Member | Shares | % |
|---|---|---|
| Hemalatha Rajan | ||
| Manuel Thangaraj | 1% |
The money, as the order printed it
Rs as stated in the document — not the crore figures above
What the company held
Fixed Deposit Account and cash in liquidation account
Creditors and claims
As the order records them
No claims were received by the Liquidator
Creditor approval
Not applicable as all assets and liabilities were transferred and company has no creditors
Figures come from IBBI, NCLT, MCA and other official sources. Methodology · Report an error
See other companies in the voluntary liquidation register.