About Iraa Clothing Private Limited
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Iraa Clothing Private Limited is a private limited company based in Thane, Maharashtra, India, a subsidiary of S.J. Financial Advisory Llp. 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 denim and casual wear segment of the fashion and textiles sector. It was incorporated on 26 July 2005.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U17120MH2005PTC155066. Its GSTIN is 27AAJCS2299D1Z4 (Maharashtra).
The company has an authorised share capital of ₹8.5 Cr and a paid-up capital of ₹8.07 Cr. It was formerly known as Shagun Dyers Private Limited and Shagun Clothing Private Limited. It is led by directors including Shivam S Mishra and Prashant Jain (Irp/Rp/Liquidator).
Its last annual general meeting (AGM) was held on 30 September 2022, and its latest financial statements are for the year ended 31 March 2022. The registered office is at Plot No. B – 7/3 Near Camlin Naka M.I.D.C Tarapur Boisar Palghar, Thane, Maharashtra, India – 401506.
As per the financials filed for FY 2022, the company reported a revenue of ₹31.53 Cr, a growth of 67% compared to the previous year. For the same year it recorded a net loss of ₹4.99 Cr (net margin -15.8%) and EBITDA of ₹69.48 Lakh (EBITDA margin 2.2%). Revenue has declined at a compounded annual rate (CAGR) of 34% over three years and 19% over five years.
The company has about 479 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Iraa Clothing. As per MCA filings, the company has open charges of ₹29.85 Cr and satisfied charges of ₹59.84 Cr on record. Court records list 24 cases involving the company, including 3 filed by the company and 21 filed against it; 4 cases are pending.
The last known website on record is iraaclothing.com.
Company details
Name history
Iraa Clothing has undergone 2 name changes throughout its history. The company was previously known as Shagun Dyers Private Limited, and Shagun Clothing Private Limited. The current legal name is Iraa Clothing Private Limited.
| Company Name | Status |
|---|---|
| Iraa Clothing Private Limited | Current |
| Shagun Dyers Private Limited | Previous |
| Shagun Clothing Private Limited | Previous |
Contact details
Iraa Clothing Private Limited's registered office is in Thane, Maharashtra. Its website is iraaclothing.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressPlot No. B – 7/3 Near Camlin Naka M.I.D.C Tarapur Boisar Palghar, Thane, Maharashtra, India – 401506
- IndustryFashion and Textile, Denim & Casual Wear
To see the full contact details of Iraa Clothing 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
Brands
Iraa Clothing operates one associated brand: Iraa Clothing. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Functions as a brand specializing in bottom wear clothing. | iraaclothing.com |
Business activity
The main business activity of Iraa Clothing 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 Iraa Clothing Private Limited, buy the company report.
Financials of Iraa Clothing Private Limited
FY 2022 filings availableIraa Clothing Private Limited reported revenue of ₹31.53 Cr (up 67% YoY) for FY 2022.
Compounded Annual Growth Rate (CAGR)
Revenue rose 67% in the latest year, though over five years it has declined at a compounded annual rate (CAGR) of 19%. EBITDA rose 108% 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 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹31.53 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹69.48 Lakh | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹4.99 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
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Financial Ratios
| Metrics | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 2.2% | ||||
| Net Profit Margin | -15.8% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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| Receivable Days | |||||
| Payable Days | |||||
| Inventory Days | |||||
| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Iraa Clothing Private Limited, buy the company report.
Board of directors of Iraa Clothing Private Limited
Iraa Clothing has 3 current directors and 10 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Shivam S Mishra Also directs: Innovative Marine Solutions Private Limited | Director | 30 Apr 2022 | 4 Years 6 Months | As last reported |
| Prashant Jain | Irp/Rp/Liquidator | 29 Sep 2023 | 3 Years 1 Months | As last reported |
| Archana Sunil Biyani Also directs: S.J. Financial Advisory LLP, R-Think LLP | Director | 30 Nov 2020 | 5 Years 11 Months | As last reported |
Auditor
Iraa Clothing Private Limited is audited by GUPTA LODHA & CO for the financial year 2022.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| GUPTA LODHA & CO | FY 2022 | 141513W |
Shareholding
The shareholding of Iraa Clothing Private Limited is on record for 5 financial years, the latest being FY 2022, split between promoters, domestic institutions, public shareholders and others.
| Shareholder category | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Iraa Clothing Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 30 Mar 2019 | 100255066 | Others | ₹29.39 Cr | Open | |
| 05 May 2017 | 100098276 | Hdfc Bank Limited | ₹45.94 Lakh | Open | |
| 29 Nov 2016 | 100066936 | Others | ₹31.8 Cr | Satisfied | |
| 09 Dec 2013 | 10475982 | Others | ₹28.04 Cr | Satisfied |
To see the full charge records of Iraa Clothing Private Limited, buy the company report.
Total charge records: 4 View all charges
Legal cases
Iraa Clothing Private Limited has 24 court cases on record: 3 filed by Iraa Clothing, 21 filed against it. 4 cases are pending and 20 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 21 | 20 | 4 |
| NCLT | 2 | 0 | 0 |
| High courts | 1 | 1 | 0 |
Cases on record (5 of 24)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court | Court case (CARBP) | Filed against the company by Tata Capital Limited | Disposed |
| District court, Calcutta, West Bengal | Civil suit | Filed against the company by M/S Cholamandalam Investment and Finance Company Ltd. | Disposed |
| District court, Ahmedabad, Gujarat | Court case (CR RA) | Filed by the company against Tata Capital Financial Services Limited | Disposed |
| District court, Mohali, Punjab | Cheque dishonour complaint | Filed against the company by Oswal Woollen Mills Ltd. | Disposed |
| District court, New Delhi, Delhi | Criminal case | Filed against the company by Ginni International Ltd | Disposed |
To see the full case history of Iraa Clothing 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.
Credit ratings & regulatory alerts
Iraa Clothing Private Limited was last rated by Crisil on 22 Sep 2020.
| Rating agency | Rated on | Rating |
|---|---|---|
| Crisil | 22 Sep 2020 |
To see the full credit ratings and regulatory alerts of Iraa Clothing Private Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Iraa Clothing Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Iraa Clothing Private Limited has a workforce of 479 employees on its EPFO records as of Apr 08, 2024, across 1 active EPFO establishment.
GST
Iraa Clothing has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAJCS2299D1Z4 | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Iraa Clothing Private Limited, buy the company report.
Recent activity
Iraa Clothing Private Limited has 13 board changes on record since 2014: 3 appointments and 10 cessations. The latest: Prashant Jain was appointed as Irp/Rp/Liquidator on 29 Sep 2023.
12 earlier events are in the company report.
Frequently asked questions
Iraa Clothing 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.
Iraa Clothing is a company under insolvency, formerly operating as a private limited company based in Thane, Maharashtra, India. The company works in denim and casual wear, within the fashion and textile industry. It was incorporated on 26 July 2005 and is registered under CIN U17120MH2005PTC155066. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Iraa Clothing has 3 current directors:
- Shivam S Mishra - Director
- Archana Sunil Biyani - Director
- Prashant Jain - Irp/Rp/Liquidator
The latest financial statements of Iraa Clothing on record with the MCA are for the year ended 31 March 2022. Its last annual general meeting was held on 30 September 2022. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Iraa Clothing is U17120MH2005PTC155066. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Iraa Clothing has open charges of ₹29.85 Cr and satisfied charges of ₹59.84 Cr as per latest MCA filings.
Iraa Clothing has 24 court cases on record: 3 filed by the company and 21 filed against it. 4 are pending. Most are in the district courts.
Iraa Clothing was incorporated on 26 July 2005. It is registered with the Registrar of Companies, Mumbai.
Prashant Jain was appointed as Irp/Rp/Liquidator on 29 Sep 2023. Shivam S Mishra ceased to be Additional Director on 30 Sep 2022. Shivam S Mishra was appointed as Director on 30 Apr 2022. Iraa Clothing has 13 board changes on record in total.
Iraa Clothing can be reached through the website iraaclothing.com. Its registered office is in Thane, Maharashtra, India.
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