WigWag Networks India 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 2.00 L |
|---|---|
| Amount due to creditors | Not reported |
| Amount paid to creditors | Not reported |
| Liquidation expenses | Rs 2.00 L |
| Surplus to members | Not reported |
"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 register90 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.
The NCLT order
Read from the document itself
- Bench
- BENGALURU BENCH, BENGALURU
- Case number
- C.P (IB) No. 91/BB/2022
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. Compliances of Section 59 and other relevant provisions of the IBC, 2016 r/w IBBI Regulations have been made within 12 months.
Statutory observations
IT Department has not raised any demand in the report.
Why the company wound up
In the order's own words
- What it was set up to do
- software designing, development, customization, implementation, maintenance, assembling, data publishing and processing systems and other industrial automation systems and gadgets testing and bench marking, import and export otherwise deal in third party computer software packages, programs and solutions, etc
The wind-down, stage by stage
7 dated stages
- 8 Feb 2021 Board resolution to wind up
- 15 Feb 2021 Liquidation commenced
- 17 Feb 2021 Public announcement
- 17 Mar 2021 Last date for creditors to claim
- 24 Mar 2021 Preliminary report
- 17 Feb 2022 Final report
- 28 Jul 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
- Under Liquidation
- Company class
- Private
- Category
- Company limited by shares
- Sub-category
- subsidiary of company incorporated outside India
- Listing
- Unlisted
- State
- Karnataka
- ROC
- ROC Bangalore
- Industry
- Business Services
- PIN
- 560037
- Incorporated
- 17 Apr 2018
- Authorised capital
- Rs 10.00 L
- Paid-up capital
- Rs 1.00 L
- CIN
- U74999KA2018FTC143272
- Registered office
- A-305, Sterling Shalom Appt, 9/2, 10/1, Kundalhalli, Whitefield,Bangalore,Bangalore,Karnataka,560037-India
The money, as the order printed it
Rs as stated in the document — not the crore figures above
- Total receipts
- Rs 2.13 L
- Total payments
- Rs 2.13 L
- Liquidator fee
- Rs 1.50 L
Receipts
| Balance at Bank | Rs 2.13 L |
|---|
Payments
| Liquidator Fee | Rs 1.50 L |
|---|---|
| Liquidation expenses (Newspaper: Advertisement, Filing Fees etc) | Rs 29,590 |
| Payment Audit | Rs 25,006 |
| I.T. Return Filing and incidental expenses | Rs 6,435 |
| Bank Charges | Rs 1,482 |
| Postage and Courier Charges | Rs 417 |
Creditors and claims
As the order records them
No claims received as there are no financial creditors.
Creditor approval
Since there is no financial creditors the liquidator did not received any claims from stakeholders.
Figures come from IBBI, NCLT, MCA and other official sources. Methodology · Report an error
See other companies in the voluntary liquidation register.