Liquidation companies play a crucial role in the Indian economy, offering solutions for efficient management and operations. They specialize in managing the complex process of liquidation, ensuring fair distribution of assets and resolving deficits and debts. With their expertise, they support businesses facing financial distress. In this article, we have compiled a list of liquidation companies in India, each with their unique features and benefits to help businesses.
List of Liquidation Companies in India
List of Liquidation Companies in India
Among the hundreds of companies listed for liquidation in India, we have listed below the recently liquidated companies in India and the companies under the liquidation process. Let us start our list.
1. Renaissance Corporation Limited
Renaissance Corporation Limited was founded in 2005. The date of incorporation is 13th January 2005. It was incorporated under ROC Mumbai. The insolvency resolution process closed on 17th October 2022 and on 18th October the liquidation process started with the order received on 21st November 21, 2022. The last date for submission of claims was 22nd December 2022.
2. Innovari Technologies Private Limited
Innovari Technologies private limited was incorporated on 22nd November 2014 under the ROC Delhi. On 2nd November 2022, the closure of the insolvency resolution process and as well as the commencement of liquidation happened. The last date for the submission of the claims was 21st December 2022.
3. Vanessa Metals & Alloys Private Limited
Vanessa Metals and Alloys Private Limited was registered on 26th March 2015 under the ROC Delhi and Companies Act, 1956. The date of closure of the insolvency resolution process is 11 January 2021 and the liquidation started on 16 November 2022 and the order was received on 18 November 2022. The last date for submission of claims was 7th December 2022. This is among the recent liquidation companies in India.
4. Sharma Kalypso Private Limited
Sharma Kalypso Private Limited was incorporated on 9th April 2009 under the authority of the Registrar of Companies Delhi. The date of closure of the insolvency resolution process is 2nd June 2022. The liquidation started on 16th November 2022 and the order of NCLT was uploaded on the website on 18th November 2022. The last date for submission of claims was 16th December 2022.
5. Cox and Kings Financial Service Limited
Cox and Kings Financial Service Limited started on 29th December 2016 officially under the ROC Mumbai. The date of closure of the insolvency resolution process is 11 October 2022 and the liquidation commencement date is the same as well. The last date for submission of claims was 7th December 2022.
Deltronix was incorporated on 26th July 1984. It was registered under the ROC of New Delhi. On 18th October 2022, the closure of the insolvency resolution process and the liquidation started on the same day as well. The submission of claims was entertained till 17th November 2022. This concludes the list of liquidation companies in India.
Voluntary Liquidation Companies
Below is the list of companies that have gotten into the liquidation process voluntarily due to their own reasons.
1. United Chemical Company Private Limited
United Chemical Company Private Limited was registered officially on 21st October 1974 under the Registrar of Companies, West Bengal. The liquidation process started on 19th November 2022. The last date for the submission of claims was 18th December 2022.
2. Emco India Private Limited
Emco India Private Limited was incorporated on 13th June 1995 under the Registrar of Companies, Mumbai, Maharashtra. The liquidation process begins on 21st November 2022 and the last date for submission of claims was the 21st of December 2022.
3. Mahashree Trading Ltd
Mahashree Trading Ltd was incorporated on 27 December 1984. It was registered under the Registrar of Companies Mumbai. The liquidation commencement date was 17 November 2022 and the last date for the submission of claims was 17th December 2022.
4. Clintec (India) International Private Limited
Clintec (India) International Private Limited was initiated in 2002 and officially incorporated on 6th May 2002 under the ROC Bangalore. The date of liquidation commencement was 14 November 2022 and till 13th December 2002, the claims will be entertained. This company is among those liquidation companies in India that liquidated voluntarily.
5. North American Coal Corporation Private Limited
North American Coal Corp. Pvt Ltd was incorporated on 9th March 2011 under the Registrar of Companies Pune. The liquidation started on 4th November 2022. The last date for the submission of the claims was the 4th of December 2022.
6. Bigzetta Systems Private Limited
Bigzetta Systems Private Limited was founded on 21 February 2018 under the Ministry of Corporate Affairs, ROC Delhi. The liquidation process was initiated on the 3rd of November 2022 with the last date of submission being the 2nd of December 2022.
There were some big companies liquidated in India in recent years which has resulted in many liquidation companies in India. The Insolvency and Bankruptcy Board of India (IBBI) has claimed almost 365 companies liquidated during and after the Covid-19 outbreak till September 2022.
The above list of liquidated companies in India last 2 years are under the process of liquidation. Mostly the big companies were bought or acquired by their peer competition or some other company before getting liquidated during the CIRP (Corporate Insolvency Resolution Process).
There is no data about the companies that have been liquidated as they are listed for auction and the auction can take more than a year to completely sell all the assets. The links below will take you to the auction page which shows a list of companies that are in the last step of the liquidation process, and which is an auction of assets.
What is eAuction?
eAuction is a platform provided by LIPL for insolvency professionals, bankers and institutions to conduct an E-auction of the assets of the liquidated company as per the rules and regulations under the Insolvency and Bankruptcy Code, 2016 and other laws governing the same.
IBBI Liquidation Auction
The Insolvency and Bankruptcy Board of India was established on 1st October 2016 with the Insolvency and Bankruptcy Code, 2016. It is one of the key factors of the whole ecosystem which is responsible for the execution of the Code that unites and amends the laws relating to the reorganizing and insolvency resolution of partnership firms, corporate persons and individuals in a span of time to maximize the value of the assets of such firms and persons to help promote the entrepreneurship, availableness of the credit and balancing the interests of all the shareholders and stakeholders.
India has a diverse range of liquidation companies, catering to various industries and sectors. Their expertise and services contribute to the overall stability and growth of India’s economic landscape.