About Forbes Technosys Limited
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Forbes Technosys Limited is a public limited company based in Mumbai, Maharashtra, India, a subsidiary of Forbes & Company Limited. The company is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. Management control has been transferred to an insolvency professional. It operates in the digital payment solutions segment of the financial services sector. It was incorporated on 09 July 1991.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U29290MH1991PLC062425. Its GSTIN is 27AAACF8567A1ZP (Maharashtra). The company holds 17 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹169.05 Cr and a paid-up capital of ₹94.9 Lakh. It was formerly known as Wandel and Goltermann and Forbes Private Limited and Wandel and Goltermann and Forbes Limited. It is led by directors including Rohit Arun Jayakar (Managing Director) and Rakesh Kumar Jindal (Irp/Rp/Liquidator).
Its last annual general meeting (AGM) was held on 23 August 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Mumbai, Maharashtra.
As per the financials filed for FY 2024, the company reported a revenue of ₹3.33 Cr, a decline of 39% compared to the previous year. For the same year it recorded a net loss of ₹46.32 Lakh (net margin -13.9%) and EBITDA of ₹13.06 Lakh (EBITDA margin 3.9%). Revenue has declined at a compounded annual rate (CAGR) of 51% over three years and 52% over five years.
The company has about 6 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Forbes Technosys. As per MCA filings, the company has open charges of ₹64.25 Lakh and satisfied charges of ₹154.65 Cr on record. Court records list 25 cases involving the company, including 9 filed by the company and 16 filed against it; 5 cases are pending. The company has 21 deals on record (11 funding rounds, 5 secondary share transfers, 3 debt financings), with disclosed funding of ₹286.2 Cr; the latest was in April 2020. The company has 33 MSME Form 1 returns on record between 2017 and 2023, listing 1,193 overdue payments to 60 micro and small suppliers.
The last known website on record is forbestechnosys.com.
Company details
Name history
Forbes Technosys has undergone 2 name changes throughout its history. The company was previously known as Wandel And Goltermann And Forbes Private Limited, and Wandel And Goltermann And Forbes Limited. The current legal name is Forbes Technosys Limited.
| Company Name | Status |
|---|---|
| Forbes Technosys Limited | Current |
| Wandel And Goltermann And Forbes Private Limited | Previous |
| Wandel And Goltermann And Forbes Limited | Previous |
CIN history
Forbes Technosys has one previous CIN (Corporate Identification Number): U29290MH1991PTC062425. The current CIN is U29290MH1991PLC062425, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U29290MH1991PLC062425 | Current |
| U29290MH1991PTC062425 | Previous |
Contact details
Forbes Technosys Limited's registered office is in Mumbai, Maharashtra. Its website is forbestechnosys.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressGround Floor Torana Apartment, Sahar Road Andheri (East), Mumbai, Maharashtra, India – 400099
- IndustryFinancial Services, Digital Payment Solutions
To see the full contact details of Forbes Technosys 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
Brands
Forbes Technosys operates one associated brand: Forbes Technosys. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Provider of payment kiosk machines for consumers and businesses | forbestechnosys.com |
Business activity
The main business activities of Forbes Technosys are trade, support service to organizations and manufacturing. In detail, this covers retail trading, other support services to organizations and computer, electronic, communication and scientific measuring & control equipment. 3 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| G | Trade | G2 | Retail Trading | |
| N | Support service to Organizations | N7 | Other support services to organizations | |
| C | Manufacturing | C9 | Computer, electronic, Communication and scientific measuring & control equipment |
To see the full business activity and turnover split of Forbes Technosys Limited, buy the company report.
Financials of Forbes Technosys Limited
FY 2024 filings availableForbes Technosys Limited reported revenue of ₹3.33 Cr (down 39% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 52% over five years, including a 39% fall in the latest year. EBITDA rose 101% 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 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
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| EBITDA | ₹13.06 Lakh | ||||
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| Tax Expense | |||||
| Net Profit (PAT) | -₹46.32 Lakh | ||||
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Financial Ratios
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 3.9% | ||||
| Net Profit Margin | -13.9% | ||||
| Return on Equity (ROE) | |||||
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To see the full financial statements and ratios of Forbes Technosys Limited, buy the company report.
Board of directors and KMP of Forbes Technosys Limited
Forbes Technosys Limited currently reports 4 directors and 1 key managerial person. 22 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Rakesh Kumar Jindal Also directs: Efficax Resolution Professionals Private Limited | Irp/Rp/Liquidator | 09 Jun 2025 | 1 Years 4 Months | As last reported |
| Vinod Bhandawat Also directs: Gokak Textiles Limited, Sterling and Wilson Private Limited, Gokak Power & Energy Limited and 3 more | Director | 14 Oct 2019 | 7 Years 0 Months | As last reported |
| Sandeep Pramodrai Kadakia Also directs: Coromandel Garments Limited | Cfo | 15 Jan 2021 | 5 Years 9 Months | As last reported |
| Rohit Arun Jayakar Also directs: Cleverbuilt LLP, S P Fabricators Private Limited, SP Aluminium Systems Private Limited and 1 more | Managing Director | 16 Mar 2021 | 5 Years 7 Months | As last reported |
| Jai Laxmikant Mavani Also directs: Superbon Advisors LLP, Forbes & Company Limited, Forbes Precision Tools and Machine Parts Limited and 5 more | Director | 03 Nov 2016 | 9 Years 11 Months | As last reported |
Auditor
Forbes Technosys Limited is audited by Batliboi & Purohit for the financial year 2022.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Batliboi & Purohit | FY 2022 | 101048W |
Shareholding
The shareholding of Forbes Technosys Limited is on record for 5 financial years, the latest being FY 2021, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Forbes Technosys Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 18 Aug 2023 | 100774939 | Axis Bank Limited | ₹64.25 Lakh | Open | |
| 18 Aug 2023 | 100777641 | Others | ₹55.4 Lakh | Satisfied | |
| 07 Mar 2019 | 100257010 | Others | ₹4 Cr | Satisfied | |
| 28 Dec 2016 | 100071924 | Others | ₹12 Cr | Satisfied | |
| 19 Feb 2016 | 10625179 | Axis Bank Limited | ₹20 Cr | Satisfied |
To see the full charge records of Forbes Technosys Limited, buy the company report.
Total charge records: 13 View all charges
Deals & funding
Forbes Technosys Limited has 21 deals on record (11 funding rounds, 5 secondary share transfers, 3 debt financings), with disclosed funding of ₹286.2 Cr; the latest was in April 2020.
Deals on record (5 of 21)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Apr 2020 | Funding round | ₹58 Cr | Investors: Forbes & Company Limited , Forbes Campbell Finance Limited |
| Jan 2020 | Funding round | ₹10 Cr | Investors: Forbes & Company Limited |
| Oct 2018 | Funding round | ₹10 Cr | Investors: Forbes & Company Limited |
| Mar 2018 | Funding round | ₹10 Cr | Investors: Forbes & Company Limited |
| Oct 2017 | Debt financing | ₹35 Cr | Investors: Axis Bank Limited |
To see the full deal history of Forbes Technosys Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Forbes Technosys Limited has 25 court cases on record: 9 filed by Forbes Technosys, 16 filed against it. 5 cases are pending and 20 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 13 | 10 | 4 |
| High courts | 7 | 3 | 0 |
| NCLT | 5 | 3 | 1 |
Cases on record (5 of 25)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, BENGALURU, Karnataka | Court case (Com.A.P.) | Filed against the company by Canara Bank | Pending |
| District court, Thane, Maharashtra | Court case (Sum.Civ.Suit) | Filed against the company by Shree Ganesh Courier Services Pvt. Ltd., THR. Sangram Baban Jadhav | Pending |
| NCLT, Mumbai | Insolvency matter | Filed against the company by Inp Computer Technology Pvt Ltd | Pending |
| High Court, MAHARASHTRA | Arbitration matter | Filed against the company by Aforeserve.Com Ltd. | Disposed |
| NCLT, Mumbai | Court case (Rst.A(IBC)) | Filed against the company by Thin Computing Solutions Private Limited | Disposed |
To see the full case history of Forbes Technosys 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.
Credit ratings & regulatory alerts
Forbes Technosys Limited was last rated by Icra on 22 Oct 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Icra | 22 Oct 2021 |
To see the full credit ratings and regulatory alerts of Forbes Technosys Limited, buy the company report.
MSME payment delays
Forbes Technosys Limited has 33 MSME Form 1 returns on record between 2017 and 2023, listing 1,193 overdue payments to 60 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 60)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| an individual supplier | |||
| an individual supplier | |||
| an individual supplier | |||
| N-Tech Solutions Private Limited |
To see the full MSME payment records of Forbes Technosys Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Forbes Technosys Limited has a workforce of 6 employees on its EPFO records as of Apr 07, 2024, across 1 active EPFO establishment.
GST
Forbes Technosys has 17 GST registrations: 1 active and 16 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACF8567A1ZP | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Forbes Technosys Limited, buy the company report.
Recent activity
Forbes Technosys Limited has 25 board changes on record since 2007: 5 appointments and 20 cessations. The latest: Rakesh Kumar Jindal was appointed as Irp/Rp/Liquidator on 09 Jun 2025.
43 earlier events are in the company report.
Frequently asked questions
Forbes Technosys is undergoing "Corporate Insolvency Resolution Process" (CIRP) under the Insolvency and Bankruptcy Code, 2016. Management control has been transferred to an insolvency resolution professional. The company may not be able to independently enter into new commitments during this period. This is a high-risk status - verify the resolution status before any engagement.
Forbes Technosys is a company under insolvency, formerly operating as a public limited company based in Mumbai, Maharashtra, India. The company works in digital payment solutions, within the financial services industry. It was incorporated on 09 July 1991 and is registered under CIN U29290MH1991PLC062425. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Forbes Technosys has 5 current directors and KMP:
- Rohit Arun Jayakar - Managing Director
- Vinod Bhandawat - Director
- Jai Laxmikant Mavani - Director
- Rakesh Kumar Jindal - Irp/Rp/Liquidator
- Sandeep Pramodrai Kadakia - Cfo
The latest financial statements of Forbes Technosys on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 23 August 2024. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Forbes Technosys is U29290MH1991PLC062425. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Forbes Technosys has open charges of ₹64.25 Lakh and satisfied charges of ₹154.65 Cr as per latest MCA filings.
Forbes Technosys has 25 court cases on record: 9 filed by the company and 16 filed against it. 5 are pending. Most are in the district courts.
Forbes Technosys was incorporated on 09 July 1991. It is registered with the Registrar of Companies, Mumbai.
Forbes Technosys has 21 deals on record (11 funding rounds, 5 secondary share transfers, 3 debt financings), with disclosed funding of ₹286.2 Cr; the latest was in April 2020.
Rakesh Kumar Jindal was appointed as Irp/Rp/Liquidator on 09 Jun 2025. Eddie Dady Poonawala ceased to be Director on 16 Mar 2023. Rupa Pawan Khanna ceased to be Company Secretary on 30 Jun 2022. Forbes Technosys has 25 board changes on record in total.
Forbes Technosys has 33 MSME Form 1 returns on record between 2017 and 2023, listing 1,193 overdue payments to 60 micro and small suppliers. The latest return was filed on 28 Apr 2023.