Hotel Netra Palace Private Limited
About Hotel Netra Palace Private Limited
Data last updated:
Hotel Netra Palace Private Limited is a private limited company based in Ahmedabad, Gujarat, India. 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 hotel and accommodation services segment of the travel and hospitality sector. It was incorporated on 04 March 2003.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U55101GJ2003PTC042092. The company has 2 GST registrations on record, none of which is active.
The company has an authorised share capital of ₹1.6 Cr and a paid-up capital of ₹1.6 Cr. It is led by directors including Manish Kumar Bhagat (Irp/Rp/Liquidator) and Kanaklataben Umangkumar Thakkar.
Its last annual general meeting (AGM) was held on 30 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Dharmadevhouseshyamalcrossroad Satellite, Ahmedabad, Gujarat, India – 380015.
As per the financials filed for FY 2024, the company reported a revenue of ₹34.06 Lakh, reflecting significant growth compared to the previous year. For the same year it recorded a net loss of ₹1.24 Cr (net margin -364.2%) and EBITDA of -₹26.04 Lakh (EBITDA margin -76.5%). Revenue has declined at a compounded annual rate (CAGR) of 33% over three years and 25% over five years.
As per MCA filings, the company has open charges of ₹10.2 Cr and satisfied charges of ₹143.99 Cr on record. Court records list 12 cases involving the company, including 6 filed by the company and 6 filed against it; 2 cases are pending.
Company details
Contact details
Hotel Netra Palace Private Limited's registered office is in Ahmedabad, Gujarat. Its e-mail address is in the company report.
- Email
- Registered AddressDharmadevhouseshyamalcrossroad Satellite, Ahmedabad, Gujarat, India – 380015
- IndustryTravel and Hospitality, Hotel & Accommodation Services
To see the full contact details of Hotel Netra Palace 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
Financials of Hotel Netra Palace Private Limited
FY 2024 filings availableHotel Netra Palace Private Limited reported revenue of ₹34.06 Lakh (up 1938% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 25% over five years. EBITDA rose 94% 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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| Total Expenses | |||||
| EBITDA | -₹26.04 Lakh | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹1.24 Cr | ||||
| Balance Sheet | |||||
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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 | -76.5% | ||||
| Net Profit Margin | -364.2% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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| Efficiency and Growth | |||||
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| Receivable Days | |||||
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| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Hotel Netra Palace Private Limited, buy the company report.
Board of directors of Hotel Netra Palace Private Limited
Hotel Netra Palace has 3 current directors and 8 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Kanaklataben Umangkumar Thakkar | Additional Director | 11 Jan 2021 | 5 Years 9 Months | As last reported |
| Manish Kumar Bhagat | Irp/Rp/Liquidator | 22 Aug 2024 | 2 Years 2 Months | As last reported |
| Sangitaben Vinodbhai Chatwani Also directs: MH Infraprojects Limited, Dharmadev Infrastructure Limited | Additional Director | 15 Sep 2020 | 6 Years 1 Months | As last reported |
Peer comparison
Hotel Netra Palace Private Limited is compared with the 10 companies closest to it by revenue in the Consumer Services industry (Hotels), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Michaels Inn Private Limited | ₹34.13 Lakh (FY 2025) | -4.0% | Kumily, Kerala, India | |||
| Emerald Forest Hotels Private Limited | ₹34.13 Lakh (FY 2025) | -91.0% | New Delhi, Delhi, India | |||
| R S B Realtors Private Limited | ₹34.13 Lakh (FY 2024) | 27.0% | Kolkata, West Bengal, India | |||
| Golden Wave Hotels Private Limited | ₹34.09 Lakh (FY 2020) | Srimadhopur, Rajasthan, India | ||||
| Venkatagiri Mansions Private Limited | ₹34.08 Lakh (FY 2025) | 7.0% | Bangalore, Karnataka, India | |||
| Hotel Netra Palace Private Limitedthis company | ₹34.06 Lakh (FY 2024) | -₹1.24 Cr | -364.2% | 1938.0% | Ahmedabad, Gujarat, India | |
| Live Grand Hotels Private Limited | ₹33.99 Lakh (FY 2022) | 56.0% | Salem, Tamil Nadu, India | |||
| River Forest Hotel Private Limited | ₹33.98 Lakh (FY 2024) | 47.0% | Kullu, Himachal Pradesh, India | |||
| Duratuf Hospitality Private Limited | ₹33.97 Lakh (FY 2024) | -9.0% | Delhi, India | |||
| Gayatri Traders Private Limited | ₹33.95 Lakh (FY 2018) | 16.0% | Mandya, Karnataka, India | |||
| Satish Hotels Private Limited | ₹33.91 Lakh (FY 2025) | 6.0% | Nashik, Maharashtra, India |
To see the full peer comparison of Hotel Netra Palace Private Limited, buy the company report.
Auditor
Hotel Netra Palace Private Limited is audited by A R SARAIYA & CO for the financial year 2020.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| A R SARAIYA & CO | FY 2020 | 130880W |
Shareholding
The shareholding of Hotel Netra Palace Private Limited is on record for 4 financial years, the latest being FY 2020, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2020 | FY 2019 | FY 2017 | FY 2016 |
|---|---|---|---|---|
| Promoters | ||||
| Domestic institutional investors (DII) | ||||
| Foreign institutional investors (FII) | ||||
| Public | ||||
| Others |
To see the full shareholding pattern of Hotel Netra Palace Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 16 Mar 2015 | 10554658 | Small Industries Development Bank of India | ₹8 Cr | Open | |
| 26 Jun 2008 | 10112096 | Bank of Baroda | ₹2.2 Cr | Open | |
| 05 Dec 2018 | 100228107 | Others | ₹36.5 Cr | Satisfied | |
| 05 May 2018 | 100174635 | Others | ₹10 Cr | Satisfied | |
| 17 Oct 2017 | 100134286 | Others | ₹12 Cr | Satisfied |
To see the full charge records of Hotel Netra Palace Private Limited, buy the company report.
Total charge records: 17 View all charges
Legal cases
Hotel Netra Palace Private Limited has 12 court cases on record: 6 filed by Hotel Netra Palace, 6 filed against it. 2 cases are pending and 10 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 6 | 2 | 2 |
| District courts | 4 | 4 | 0 |
| NCLT | 2 | 0 | 0 |
Cases on record (5 of 12)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Ahmedabad, Gujarat | Court case (CR RA) | Filed against the company by Ms. Hotel Panshikura Pvt. Ltd. Through Its Director-Parmanandbhai Chimanla | Disposed |
| High Court, GUJARAT | Commercial suit | Filed against the company by Malibu Plastica (P) Limited | Disposed |
| High Court, GUJARAT | Special civil application | Filed by the company against Authorized Officer, Small Industries Development Bank of India and 1 other | Pending |
| High Court, GUJARAT | Special civil application | Filed by the company against State of Gujarat and 1 other | Pending |
| NCLT, Ahmedabad | Insolvency matter | Filed by the company | Disposed |
To see the full case history of Hotel Netra Palace 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 Hotel Netra Palace Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Hotel Netra Palace has 2 GST registrations on record, and all of them have been cancelled or are inactive. Only active GST numbers are listed on this page.
To see the full GST registrations and return filing status of Hotel Netra Palace Private Limited, buy the company report.
Recent activity
Hotel Netra Palace Private Limited has 11 board changes on record since 2018: 3 appointments and 8 cessations. The latest: Manish Kumar Bhagat was appointed as Irp/Rp/Liquidator on 22 Aug 2024.
38 earlier events are in the company report.
Frequently asked questions
Hotel Netra Palace 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.
Hotel Netra Palace is a company under insolvency, formerly operating as a private limited company based in Ahmedabad, Gujarat, India. The company works in hotel and accommodation services, within the travel and hospitality industry. It was incorporated on 04 March 2003 and is registered under CIN U55101GJ2003PTC042092. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Hotel Netra Palace has 3 current directors:
- Kanaklataben Umangkumar Thakkar - Additional Director
- Sangitaben Vinodbhai Chatwani - Additional Director
- Manish Kumar Bhagat - Irp/Rp/Liquidator
The latest financial statements of Hotel Netra Palace on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 30 September 2024. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Hotel Netra Palace is U55101GJ2003PTC042092. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Hotel Netra Palace has open charges of ₹10.2 Cr and satisfied charges of ₹143.99 Cr as per latest MCA filings.
Hotel Netra Palace has 12 court cases on record: 6 filed by the company and 6 filed against it. 2 are pending. Most are in the high courts.
Hotel Netra Palace was incorporated on 04 March 2003. It is registered with the Registrar of Companies, Ahmedabad.
The peers of Hotel Netra Palace by revenue are Michaels Inn Private Limited, Emerald Forest Hotels Private Limited, R S B Realtors Private Limited, Golden Wave Hotels Private Limited, Venkatagiri Mansions Private Limited and 5 more, all in the Consumer Services industry (Hotels).
Manish Kumar Bhagat was appointed as Irp/Rp/Liquidator on 22 Aug 2024. Rishabh Chand Lodha ceased to be Irp/Rp/Liquidator on 22 Aug 2024. Kanaklataben Umangkumar Thakkar was appointed as Additional Director on 11 Jan 2021. Hotel Netra Palace has 11 board changes on record in total.
The registered office of Hotel Netra Palace is at Dharmadevhouseshyamalcrossroad Satellite, Ahmedabad, Gujarat, India – 380015.
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