Akshata Mercantile Private Limited
About Akshata Mercantile Private Limited
Data last updated:
Akshata Mercantile Private Limited is a private limited company based in Mumbai, Maharashtra, India. The company is currently under liquidation, meaning its assets are being sold to settle outstanding debts. It may not have the legal capacity to fulfil new contracts. It operates in the metals retail and distribution segment of the metals and mining sector. It was incorporated on 13 August 2001.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U51909MH2001PTC133035. The company has 1 GST registration on record, which is no longer active.
The company has an authorised share capital of ₹22 Cr and a paid-up capital of ₹19.94 Cr. It is led by directors including Mangesh Heeraji Gorivale and Chandrakant Shankar Lad.
Its last annual general meeting (AGM) was held on 29 September 2018, and its latest financial statements are for the year ended 31 March 2018. The registered office is at 308 3rd Floor Ceejay House Dr. A. B. Road Worli, Mumbai, Maharashtra, India – 400018.
As per the financials filed for FY 2018, the company reported a revenue of ₹33.11 Lakh, a decline of 100% compared to the previous year. For the same year it recorded a net loss of ₹61.99 Cr and EBITDA of -₹61.45 Cr. Revenue has declined at a compounded annual rate (CAGR) of 95% over three years.
The company has about 11 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹876.5 Cr and satisfied charges of ₹158 Cr on record. Court records list 45 cases involving the company, including 7 filed by the company and 38 filed against it; 21 cases are pending.
Company details
Contact details
Akshata Mercantile Private Limited's registered office is in Mumbai, Maharashtra. Its e-mail address is in the company report.
- Email
- Registered Address308 3rd Floor Ceejay House Dr. A. B. Road Worli, Mumbai, Maharashtra, India – 400018
- IndustryMetals and Minerals, Metal Retail & Distribution
To see the full contact details of Akshata Mercantile Private Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Business activity
The main business activity of Akshata Mercantile is trade. In detail, this covers wholesale trading.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| G | Trade | G1 | Wholesale Trading |
To see the full business activity and turnover split of Akshata Mercantile Private Limited, buy the company report.
Financials of Akshata Mercantile Private Limited
FY 2018 filings availableAkshata Mercantile Private Limited reported revenue of ₹33.11 Lakh (down 100% YoY) for FY 2018.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 95% over three years. EBITDA fell 473% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2017-18 | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|---|
| Profit and Loss Statement | ||||
| Revenue from Operations | ||||
| Other Income | ||||
| Total Revenue | ₹33.11 Lakh | |||
| Cost of Materials Consumed | ||||
| Employee Benefit Expense | ||||
| Finance Costs | ||||
| Depreciation and Amortisation | ||||
| Other Expenses | ||||
| Total Expenses | ||||
| EBITDA | -₹61.45 Cr | |||
| Profit Before Tax | ||||
| Tax Expense | ||||
| Net Profit (PAT) | -₹61.99 Cr | |||
| Balance Sheet | ||||
| Share Capital | ||||
| Reserves and Surplus | ||||
| Net Worth (Total Equity) | ||||
| Long-term Borrowings | ||||
| Short-term Borrowings | ||||
| Trade Payables | ||||
| Total Liabilities | ||||
| Fixed Assets | ||||
| Investments | ||||
| Inventories | ||||
| Trade Receivables | ||||
| Cash and Bank Balance | ||||
| Total Assets | ||||
Financial Ratios
| Metrics | FY 2017-18 | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|---|
| Profitability | ||||
| EBITDA Margin | ||||
| Net Profit Margin | ||||
| Return on Equity (ROE) | ||||
| Return on Capital Employed (ROCE) | ||||
| Return on Assets (ROA) | ||||
| Liquidity and Debt | ||||
| Current Ratio | ||||
| Quick Ratio | ||||
| Debt-to-Equity Ratio | ||||
| Interest Coverage Ratio | ||||
| Efficiency and Growth | ||||
| Asset Turnover | ||||
| Receivable Days | ||||
| Payable Days | ||||
| Inventory Days | ||||
| Revenue Growth | ||||
| Net Profit Growth | ||||
To see the full financial statements and ratios of Akshata Mercantile Private Limited, buy the company report.
Board of directors of Akshata Mercantile Private Limited
Akshata Mercantile has 3 current directors and 6 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Mangesh Heeraji Gorivale | Director | 15 Dec 2014 | 11 Years 10 Months | As last reported |
| Chandrakant Shankar Lad | Director | 12 Jun 2014 | 12 Years 4 Months | As last reported |
| Dilipkumar Natvarlal Jagad Also directs: Excel Restructuring Advisory LLP | Irp/Rp/Liquidator | 17 Jan 2024 | 2 Years 9 Months | As last reported |
Peer comparison
Akshata Mercantile Private Limited is compared with the 6 companies closest to it by revenue in the Metals and Minerals industry (Metal Retail and Distribution), with the same principal business activity (wholesale trading), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Durable Ispat & Alloys Private Limited | ₹33.34 Lakh (FY 2022) | -55.0% | Kolkata, West Bengal, India | |||
| Shree Shyam Tradehouse Private Limited | ₹33.14 Lakh (FY 2025) | 0.0% | Bhilwara, Rajasthan, India | |||
| Akshata Mercantile Private Limitedthis company | ₹33.11 Lakh (FY 2018) | -₹61.99 Cr | -100.0% | 11 | Mumbai, Maharashtra, India | |
| Zuari Infrastructure Co. Private Limited | ₹33.06 Lakh (FY 2021) | -96.0% | Howrah, West Bengal, India | |||
| Swassy Minerals Private Limited | ₹33 Lakh (FY 2023) | -65.0% | Bankura, West Bengal, India | |||
| Sureka Commercial Pvt Ltd | ₹32.94 Lakh (FY 2025) | -12.0% | Kolkata, West Bengal, India | |||
| Yash Metals Private Limited | ₹32.92 Lakh (FY 2021) | -28.0% | Ahmedabad, Gujarat, India |
To see the full peer comparison of Akshata Mercantile Private Limited, buy the company report.
Auditor
Akshata Mercantile Private Limited is audited by JAIN & CHHORIYA for the financial year 2018.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| JAIN & CHHORIYA | FY 2018 | 122061W |
Shareholding
The shareholding of Akshata Mercantile Private Limited is on record for 3 financial years, the latest being FY 2018, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|
| Promoters | |||
| Domestic institutional investors (DII) | |||
| Foreign institutional investors (FII) | |||
| Public | |||
| Others |
To see the full shareholding pattern of Akshata Mercantile Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 16 Jul 2012 | 10368214 | Central Bank of India | ₹35 Cr | Open | |
| 22 May 2012 | 10361347 | State Bank of Travancore | ₹15 Cr | Open | |
| 19 May 2012 | 10356023 | State Bank of Travancore | ₹15 Cr | Open | |
| 22 Mar 2012 | 10385440 | Bank of Baroda | ₹25 Cr | Open | |
| 07 Mar 2012 | 10349658 | State Bank of Travancore | ₹35 Cr | Open |
To see the full charge records of Akshata Mercantile Private Limited, buy the company report.
Total charge records: 19 View all charges
Legal cases
Akshata Mercantile Private Limited has 45 court cases on record: 7 filed by Akshata Mercantile, 38 filed against it. 21 cases are pending and 24 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 31 | 31 | 19 |
| High courts | 7 | 0 | 0 |
| NCLAT | 6 | 6 | 2 |
| NCLT | 1 | 1 | 0 |
Cases on record (5 of 45)
| Court | Type of case | Party | Status |
|---|---|---|---|
| NCLAT, NCLAT New Delhi | Insolvency matter | Filed against the company by Sikkim Ferro Alloys Ltd | Pending |
| District court, New Delhi, Delhi | Court case (Cr Cases) | Filed against the company by The State Trading Corporation of India Ltd | Pending |
| NCLT, Mumbai | Insolvency matter | Filed against the company by Dilshad Trading Co. Pvt Ltd | Disposed |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Summary case) | Filed against the company by Superways Enterprises Pvt Ltd | Disposed |
| District court, Mumbai CMM Courts, Maharashtra | Civil suit | Filed against the company by Dilshad Trading Co Pvt Ltd Th Mr Vinod Jatia | Disposed |
To see the full case history of Akshata Mercantile Private Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Akshata Mercantile Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Akshata Mercantile Private Limited has a workforce of 11 employees on its EPFO records as of Apr 11, 2024, across 1 active EPFO establishment.
GST
Akshata Mercantile has 1 GST registration on record, and it has been cancelled or is inactive. Only active GST numbers are listed on this page.
To see the full GST registrations and return filing status of Akshata Mercantile Private Limited, buy the company report.
Recent activity
Akshata Mercantile Private Limited has 9 board changes on record since 2010: 3 appointments and 6 cessations. The latest: Dilipkumar Natvarlal Jagad was appointed as Irp/Rp/Liquidator on 17 Jan 2024.
33 earlier events are in the company report.
Frequently asked questions
Akshata Mercantile is currently "Under Liquidation" as per MCA records. The company's assets are being sold to settle outstanding debts owed to creditors. A company under liquidation may not have the legal capacity to fulfil new contracts, and creditors are prioritised in the distribution of proceeds. This is a high-risk status - caution is strongly advised.
Akshata Mercantile is a company under liquidation, formerly operating as a private limited company based in Mumbai, Maharashtra, India. The company works in metal retail and distribution, within the metals and minerals industry. It was incorporated on 13 August 2001 and is registered under CIN U51909MH2001PTC133035. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Akshata Mercantile has 3 current directors:
- Mangesh Heeraji Gorivale - Director
- Chandrakant Shankar Lad - Director
- Dilipkumar Natvarlal Jagad - Irp/Rp/Liquidator
The latest financial statements of Akshata Mercantile on record with the MCA are for the year ended 31 March 2018. Its last annual general meeting was held on 29 September 2018. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Akshata Mercantile is U51909MH2001PTC133035. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Akshata Mercantile has open charges of ₹876.5 Cr and satisfied charges of ₹158 Cr as per latest MCA filings.
Akshata Mercantile has 45 court cases on record: 7 filed by the company and 38 filed against it. 21 are pending. Most are in the district courts.
Akshata Mercantile was incorporated on 13 August 2001. It is registered with the Registrar of Companies, Mumbai.
The peers of Akshata Mercantile by revenue are Durable Ispat & Alloys Private Limited, Shree Shyam Tradehouse Private Limited, Zuari Infrastructure Co. Private Limited, Swassy Minerals Private Limited, Sureka Commercial Pvt Ltd and 1 more, all in the Metals and Minerals industry (Metal Retail and Distribution), with the same principal business activity (wholesale trading).
Dilipkumar Natvarlal Jagad was appointed as Irp/Rp/Liquidator on 17 Jan 2024. Chandrakant Shankar Lad ceased to be Additional Director on 15 Sep 2015. Mangesh Heeraji Gorivale was appointed as Director on 15 Dec 2014. Akshata Mercantile has 9 board changes on record in total.
The registered office of Akshata Mercantile is at 308 3rd Floor Ceejay House Dr. A. B. Road Worli, Mumbai, Maharashtra, India – 400018.