Page 19 - IBBI

Table 6: Realisations under Voluntary Liquidations
Date of
Name of Corporate Person
Date of

Amount (in ` crore)
Sl.
Commen- Dissolution Realisation Due to
No.
of Assets Creditors Creditors Expenses

cement

25-05-21
0.97
0.06
-
01-12-21
1
0.91
Corporation Limited

20-12-21
-
Medanta Duke Research Institute
0.60
0.05
0.55
2
24-09-19

Private Limited
0.42
3
26-02-20
Global Wireless Application
21-12-21
0.38
-
0.03

Services Private Limited
-
08-04-19
4
1.21
24-12-21
5.62
6.83
Dalco Enginering Pvt Ltd
24-12-19
Analytix Data Services Private
0.21
31-12-21
-
0.21
5
Limited

Part B: January – March, 2022
2.35
29.80
2.35
241.49
07-09-17
1
06-01-22
273.64
Daiichi Sankyo India Pharma
Private Limited

8.32
0.24
ZTE India Randd Center Pvt.
2
01-10-19
06-01-22
-
8.56
-
Common Room Non Prot
0
12-01-22
3
25-03-21
0
Foundation For New

Entrepreneurs

0.37
0.15
04-04-19
0.52
13-01-22
-
Uttam Singh Dugal & Sons
4
(Construction) Private Limited

5
0.92
1.05
-
Tefal India Household Appliances
23-10-20
0.13
18-01-22
Private Limited

1.39
1.43
0.04
-
Lambodar Fiscal Services Pvt. Ltd. 12-10-20
24-01-22
6
7.34
7
0.10
19.11
18-02-19
Grewal Estates Pvt. Ltd.
26.55
7.34
31-01-22
12-04-19
-
Rosti Technical Plastics (India)
03-02-22
0.04
0.04
8
Private Limited

2.06
0.01
9
Jaysel Fincap Private Limited
-
12-02-21
03-02-22
2.05
10
13-08-20
07-02-22
0.44
Shreyansh Professionals Limited
0.05
0.39
0
0.21
09-02-22
3.30
0.02
28-12-20
Kerala Gail Gas Limited
3.53
11
0.02
12
-
0.58
0.55
0.03
14-11-18
10-02-22
Capita IT and Consulting India

Private Limited
Zipsure General Insurance
-
0.01
0.04
23-02-20
10-02-22
0.05
13

Limited
-
11-02-22
0.11
Capital Safety Products India
0.11
14
20-03-20
0.00

Private Limited
6.23
15
5.96
14-02-22
0.27
06-01-20
-
Radha Madhav Exim Limited
14-02-22
0.04
0.39
16
-
11-01-21
Hanuman Tradelink Pvt. Ltd
0.43
-
0.11
18-02-22
17
Hitech Metalplast Limited
24-01-20
0.04
0.07
-
12-10-20
Shivalik Medico Private Limited
0.05
0.45
0.40
24-02-22
18
24-09-20
19
Perk.Com Software Pvt
1.21
1.65
25-02-22
-
0.44
0.29
0.03
25-02-22
20 Mannil Property & Development Part A: Prior Period (Till December 31, 2021) 0 - - - - - - - - - - - - - - - - - - - - - Paid to Liquidation Surplus - - -
-
0.26
Dyno-Enpro Oil Field Chemicals Pvt
30-09-20
21 NIIT Yuva Jyoti Limited 19-02-20 25-02-22 0.57 0.05 0.05 0.06 0.46
22 Igarashi Motors Sales Pvt. Ltd 24-07-21 01-03-22 19.71 0.06 0.06 0.09 19.56
23 Leather Cluster Development Ltd. 28-06-21 02-03-22 0.30 - - 0.02 0.28
0.10
24 HMT Chinar Watches Limited INSOLVENCY AND BANKRUPTCY NEWS
8.04
25-03-19
0.19
7.75
0.10
10-03-22
25 United Equity Private Limited 23-09-19 10-03-22 1.62 - - 0.02 1.60
26 Taconic Biosciences India Pvt. Ltd 12-10-18 11-03-22 0.51 0.12 0.12 0.39 -
Figure 20: Reasons for Voluntary Liqudation
27 Shaldor India LLP 10-09-20 11-03-22 0.23 - - 0.04 0.19
Purpose for which 28 Equant India Pvt Ltd. 16-04-19 14-03-22 0.44 - - 0.08 0.36
company was formed
accomplished / Contract 29 Nirmala Books Pvt Ltd. 28-07-21 15-03-22 0.54 - - 0.04 0.50
Termination Miscellaneous 30 Gujarat Arogya Seva Pvt. Ltd. 25-09-19 16-03-22 2.69 0.01 0.01 0.05 2.63
(3%) (9%)
31 Jumoworld India Private Limited 15-02-21 16-03-22 0.65 - - 0.19 0.46
Promoters unable to 32 Sakhi Resorts and Farmlands Pvt Ltd. 11-02-19 17-03-22 0.62 0.01 0.01 0.01 0.60
manage affairs
(2%) 33 Geocloudio Technologies Pvt. Ltd. 28-10-20 17-03-22 0.12 - - 0.11 0.01
34 A.B.S. Enterprises Pvt Ltd. 02-07-20 23-03-22 1.07 - - 0.10 0.97
35 Joginder Coal Transport Pvt. Ltd. 06-06-17 24-03-22 0.06 - - 0.03 0.03
Commercially 36 Maharishi Gramin Micro Finance 27-03-19 29-03-22 0.02 - - 0.01 0.01
unviable Private Limited
(15%) Total (January - March, 2022) 364.91 10.06 10.06 33.25 321.62
Total (Till March, 2022) 3293.5 21.65 21.65 70.6 3201.22
Not carrying business ‘0’ means an amount below two decimals.
operations (71%)
‘-‘ means no value.
Table 5: Details of 1211 Voluntary Liquidations (Excluding Twelve Withdrawals)
Details of No. of Amount (in ` crore) Time for Conclusion of Processes
Liquidations Paid-up Assets Outstanding Amount Surplus The average time taken for completion of various processes is presented in Table 7.
capital debt paid to
creditors Table 7: Average Time for Approval of Resolution Plans/Orders for Liquidation
Liquidations for which Final 644 3476* 4473 31## 31## 4011## Sl. Average time As on March, 2020 As on March, 2021 April, 2021 to
Reports submitted March, 2022
No. of Time (In days) No. of Time (In days) No. of Time (In days)
Ongoing Liquidations 567 3690# 1918# ** Proce Includ Exclud Proce Includ Exclud Proce Includ Exclud
Total 1211 7166 6391 ** sses ing ing sses ing ed sses ing ed
cover exclud exclud cover exclud exclud cover exclud exclud
Note: ed ed ed ed ed ed ed ed ed
* Paid up capital is not available in case of two companies as they are limited by guarantee companies. time time time time time time
**For ongoing liquidations, outstanding debt amount is not available. CIRPs
# Paid up capital and assets of 404 and 394 cases, respectively, are available. 1 From ICD to approval of 235 408 372 355 464 404 125 711 581
## Details regarding ve cases not available. resolution plans by AA
2 From ICD to order for 939 309 NA 1290 352 NA 318 654 NA
It was reported in the last newsletter that dissolution orders were passed Liquidation by AA
in respect of 283 voluntary liquidations. Dissolution orders in respect of 5 3 From LCD to submission of nal 126 307 Liquidations 256 418 NA 328 456 NA
NA
more voluntary liquidations, which were issued during the earlier period, report under Liquidation
were reported later, as indicated in Part A of Table 6. During the quarter 4 From LCD to submission of nal 244 319 NA 422 381 NA 644 422 NA
report under Voluntary Liquidation

January - March, 2022, dissolutions orders in respect of 36 voluntary 5 From LCD to order for 71 284 NA 145 401 NA 208 482 NA
liquidations were issued taking the total dissolutions to 324. These 324 dissolution under Liquidation
6 From LCD to order for dissolution 142 453 NA 233 515 NA 324 582 NA
corporate persons owed ₹ 21.65 crore to creditors and through voluntary under Voluntary Liquidation
liquidation process, they were paid full amount.
Corporate Liquidation Accounts
Table 6: Realisations under Voluntary Liquidations
Sl. Name of Corporate Person Date of Date of Amount (in ` crore)
No. Commen- Dissolution Realisation Due to Paid to Liquidation Surplus The Regulations require a liquidator to deposit the amount of unclaimed
cement of Assets Creditors Creditors Expenses dividends, if any, and undistributed proceeds, if any, in a liquidation process
Part A: Prior Period (Till December 31, 2021)
1 Mannil Property & Development 25-05-21 01-12-21 0.97 - - 0.06 0.91 along with any income earned thereon into the corporate liquidation
Corporation Limited account before he submits an application for dissolution of the corporate
2 Medanta Duke Research Institute 24-09-19 20-12-21 0.60 - - 0.05 0.55
Private Limited person. It also provides a process for a stakeholder to seek withdrawal
3 Global Wireless Application 26-02-20 21-12-21 0.42 - - 0.03 0.38
Services Private Limited from the said account. Similar provisions exist for voluntary liquidation
4 Dalco Enginering Pvt Ltd 08-04-19 24-12-21 6.83 - - 1.21 5.62 processes. The details of these accounts at the end of March, 2022 are
5 Analytix Data Services Private 24-12-19 31-12-21 0.21 - - 0.21 -
Limited presented in Table 8.
Part B: January – March, 2022
1 Daiichi Sankyo India Pharma 07-09-17 06-01-22 273.64 2.35 2.35 29.80 241.49 Table 8: Corporate Liquidation Accounts as on March 31, 2022 (Amount in ` lakh)
Private Limited
Period Opening Deposit during Withdrawn Balance at the
2 ZTE India Randd Center Pvt. 01-10-19 06-01-22 8.56 - - 0.24 8.32
Balance the period during the period end of the period
3 Common Room Non Prot 25-03-21 12-01-22 0 - - 0 -
Foundation For New Corporate Liquidation Account
Entrepreneurs 2019 - 20 0.00 476.26 0.21 476.05
4 Uttam Singh Dugal & Sons 04-04-19 13-01-22 0.52 - - 0.15 0.37
(Construction) Private Limited 2020 - 21 476.05 116.18 0.00 592.23
5 Tefal India Household Appliances 23-10-20 18-01-22 1.05 - - 0.13 0.92 2021 - 22 592.23 25.93 4.84 613.32
Private Limited
Corporate Voluntary Liquidation Account
6 Lambodar Fiscal Services Pvt. Ltd. 12-10-20 24-01-22 1.43 - - 0.04 1.39
7 Grewal Estates Pvt. Ltd. 18-02-19 31-01-22 26.55 7.34 7.34 0.10 19.11 2019 - 20 0.00 109.70 0.00 109.70
8 Rosti Technical Plastics (India) 12-04-19 03-02-22 0.04 - - 0.04 - 2020 - 21 109.70 112.06 0.00 221.76
Private Limited
2021 - 22 221.76 127.94 0.03 349.67
9 Jaysel Fincap Private Limited 12-02-21 03-02-22 2.06 - - 0.01 2.05
10 Shreyansh Professionals Limited 13-08-20 07-02-22 0.44 0 0 0.05 0.39
11 Kerala Gail Gas Limited 28-12-20 09-02-22 3.53 0.02 0.02 0.21 3.30 Pre-packaged Insolvency Resolution Process
12 Capita IT and Consulting India 14-11-18 10-02-22 0.58 - - 0.03 0.55
Private Limited The Central Government enacted the Insolvency and Bankruptcy Code
13 Zipsure General Insurance 23-02-20 10-02-22 0.05 - - 0.01 0.04
Limited (Amendment) Act, 2021 on August 11, 2021 which was deemed to have
14 Capital Safety Products India 20-03-20 11-02-22 0.11 - - 0.11 -
Private Limited come into force on April 4, 2021 introducing the Pre-packaged Insolvency
15 Radha Madhav Exim Limited 06-01-20 14-02-22 6.23 - - 0.27 5.96 Resolution Process (PPIRP) for corporate MSMEs. On April 9, 2021, the
16 Hanuman Tradelink Pvt. Ltd 11-01-21 14-02-22 0.43 - - 0.04 0.39
17 Hitech Metalplast Limited 24-01-20 18-02-22 0.11 - - 0.07 0.04 Central Government notied the Insolvency and Bankruptcy (Pre-
18 Shivalik Medico Private Limited 12-10-20 24-02-22 0.45 - - 0.05 0.40 packaged Insolvency Resolution Process) Rules, 2021 prescribing the
19 Perk.Com Software Pvt 24-09-20 25-02-22 1.65 - - 0.44 1.21
20 Dyno-Enpro Oil Field Chemicals Pvt 30-09-20 25-02-22 0.29 - - 0.03 0.26 manner and form of making application to initiate PPIRP and the IBBI
21 NIIT Yuva Jyoti Limited 19-02-20 25-02-22 0.57 0.05 0.05 0.06 0.46 notied the IBBI (Pre-packaged Insolvency Resolution Process)
22 Igarashi Motors Sales Pvt. Ltd 24-07-21 01-03-22 19.71 0.06 0.06 0.09 19.56
23 Leather Cluster Development Ltd. 28-06-21 02-03-22 0.30 - - 0.02 0.28 Regulations, 2021. The Regulations provide for manner of carrying out
24 HMT Chinar Watches Limited 25-03-19 10-03-22 8.04 0.10 0.10 0.19 7.75 certain processes and tasks under PPIRP. As per the information available
25 United Equity Private Limited 23-09-19 10-03-22 1.62 - - 0.02 1.60 with the Board, two applications have been admitted as on March 31, 2022.
26 Taconic Biosciences India Pvt. Ltd 12-10-18 11-03-22 0.51 0.12 0.12 0.39 -
27 Shaldor India LLP 10-09-20 11-03-22 0.23 - - 0.04 0.19
28 Equant India Pvt Ltd. 16-04-19 14-03-22 0.44 - - 0.08 0.36
29 Nirmala Books Pvt Ltd. 28-07-21 15-03-22 0.54 - - 0.04 0.50 18
30 Gujarat Arogya Seva Pvt. Ltd. 25-09-19 16-03-22 2.69 0.01 0.01 0.05 2.63
31 Jumoworld India Private Limited 15-02-21 16-03-22 0.65 - - 0.19 0.46
32 Sakhi Resorts and Farmlands Pvt Ltd. 11-02-19 17-03-22 0.62 0.01 0.01 0.01 0.60
33 Geocloudio Technologies Pvt. Ltd. 28-10-20 17-03-22 0.12 - - 0.11 0.01
34 A.B.S. Enterprises Pvt Ltd. 02-07-20 23-03-22 1.07 - - 0.10 0.97
35 Joginder Coal Transport Pvt. Ltd. 06-06-17 24-03-22 0.06 - - 0.03 0.03
36 Maharishi Gramin Micro Finance 27-03-19 29-03-22 0.02 - - 0.01 0.01
Private Limited
Total (January - March, 2022) 364.91 10.06 10.06 33.25 321.62
Total (Till March, 2022) 3293.5 21.65 21.65 70.6 3201.22