About Mahabali Innovative Technologies Private Limited
Data last updated:
Mahabali Innovative Technologies 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 IT consulting and support services segment of the technology and IT services sector. It was incorporated on 01 May 1996.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U33005MH1996PTC099218. Its GSTIN is 05AACCM6709P1Z3 (Uttarakhand). The company holds 8 GST registrations, of which 2 are active.
The company has an authorised share capital of ₹40 Cr and a paid-up capital of ₹35.4 Cr. It was formerly known as Monarch Innovative Technologies Private Limited and Monarch Computers Private Limited. It is led by directors including Viren Nanji Satra (Managing Director) and Rakesh Kumar Jindal (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 Monarch House Mastermind Iiaarey Milk Colony Mayur Nagar Goregaon (E), Mumbai, Maharashtra, India – 400065.
As per the financials filed for FY 2022, the company reported a revenue of ₹1.62 Lakh, a decline of 50% compared to the previous year. For the same year it recorded a net loss of ₹8.53 Lakh and EBITDA of -₹8.29 Lakh. Revenue has declined at a compounded annual rate (CAGR) of 79% over three years and 76% over five years.
The company has about 144 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹55.2 Cr and satisfied charges of ₹49.05 Cr on record. Court records list 218 cases involving the company, including 209 filed by the company and 9 filed against it; 2 cases are pending. The company has 8 deals on record (7 secondary share transfers, 1 funding round), with disclosed funding of ₹25 Cr; the latest was in March 2017. Its 5 peer companies in the Information Technology industry (IT Consulting and Services), with the same principal business activity (other information & communication service activities) are compared by revenue, 2 larger and 3 smaller; the largest is Wih Private Limited with revenue of ₹1.64 Lakh.
The last known website on record is monarchinnovative.com.
Name History
Mahabali Innovative Technologies has undergone 2 name changes throughout its history. The company was previously known as Monarch Innovative Technologies Private Limited, and Monarch Computers Private Limited. The current legal name is Mahabali Innovative Technologies Private Limited.
| Company Name | Status |
|---|---|
| Mahabali Innovative Technologies Private Limited | Current |
| Monarch Innovative Technologies Private Limited | Previous |
| Monarch Computers Private Limited | Previous |
- EmailLocked
- TelephoneLocked
- Website
- Social MediaLocked
- Registered AddressMonarch House Mastermind Iiaarey Milk Colony Mayur Nagar Goregaon (E), Mumbai, Maharashtra, India – 400065
- IndustryInformation Technology, IT Consulting & Support Services
- 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
- One PDF report, delivered after checkout
Financials of Mahabali Innovative Technologies Private Limited
FY 2022 filings availableMahabali Innovative Technologies Private Limited reported revenue of ₹1.62 Lakh (down 50% YoY) for FY 2022.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 76% over five years, including a 50% fall in the latest year. EBITDA rose 97% 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 2017-18 to FY 2020-21in the company report |
|---|---|---|
| Profit and Loss Statement | ||
| Revenue from Operations | •••• | |
| Other Income | •••• | |
| Total Revenue | ₹1.62 Lakh | |
| Cost of Materials Consumed | •••• | |
| Employee Benefit Expense | •••• | |
| Finance Costs | •••• | |
| Depreciation and Amortisation | •••• | |
| Other Expenses | •••• | |
| Total Expenses | •••• | |
| EBITDA | -₹8.29 Lakh | |
| Profit Before Tax | •••• | |
| Tax Expense | •••• | |
| Net Profit (PAT) | -₹8.53 Lakh | |
| 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 2021-22 | FY 2017-18 to FY 2020-21in the company report |
|---|---|---|
| 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 | •••• | |
Paid data: the figures shown as dots, and every line for FY 2017-18 to FY 2020-21, are available after purchase of the company report. Figures as filed with the MCA in Form AOC-4. The full year-wise statements and ratios of Mahabali Innovative Technologies are in the company report.
Financial statements from 2015
Earlier years and trend charts are in the company report.
- Income statements
- Balance sheets
- Cash-flow statements
- Ratios and benchmarks
Board of Directors of Mahabali Innovative Technologies Private Limited
Mahabali Innovative Technologies has 3 current directors and 5 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Rakesh Kumar Jindal Also directs: Efficax Resolution Professionals Private Limited | Irp/Rp/Liquidator | 24 Jan 2024 | 2 Years 8 Months | As last reported |
| Babulal Bhanji Satra | Director | 30 Mar 2015 | 11 Years 6 Months | As last reported |
| Viren Nanji Satra | Managing Director | 01 May 1996 | 30 Years 5 Months | As last reported |
Peer Comparison
Mahabali Innovative Technologies Private Limited is compared with the companies closest to it by revenue in the Information Technology industry (IT Consulting and Services), with the same principal business activity (other information & communication service activities). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Wih Private Limited | ₹1.64 Lakh (FY 2022) | •••• | •••• | 12.0% | •••• | New Delhi, Delhi, India |
| Teemteem Private Limited | ₹1.63 Lakh (FY 2024) | •••• | •••• | 82.0% | •••• | Chittorgarh, Rajasthan, India |
| Mahabali Innovative Technologies Private Limited this company | ₹1.62 Lakh (FY 2022) | •••• | •••• | -50.0% | •••• | Mumbai, Maharashtra, India |
| Shresth Tech Solutions Limited | ₹1.62 Lakh (FY 2023) | •••• | •••• | 14.0% | •••• | Mumbai, Maharashtra, India |
| Evolvescape (India) Pvt Ltd | ₹1.61 Lakh (FY 2020) | •••• | •••• | -3.0% | •••• | Kolkata, West Bengal, India |
| Marwadi Techtonics Private Limited | ₹1.61 Lakh (FY 2025) | •••• | •••• | -26.0% | •••• | Rajkot, Gujarat, India |
Peers are the companies nearest to Mahabali Innovative Technologies by revenue, above and below it, in the Information Technology industry (IT Consulting and Services), with the same principal business activity (other information & communication service activities), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.
Auditor Details
Mahabali Innovative Technologies Private Limited is audited by Milind Mehta & Co for the financial year 2022.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| Milind Mehta & Co | Locked | Locked | Locked |
: available in the company report
Ownership and Shareholding
: available in the company report
Charges & Borrowings
| Date | Lender | Amount | Status |
|---|---|---|---|
| 07 May 2012 | Small Industries Development Bank of India | ₹5 Cr | Open |
| 07 May 2012 | Small Industries Development Bank of India | ₹5 Cr | Open |
| 10 Apr 2012 | Small Industries Development Bank of India | ₹7.7 Cr | Open |
| 10 Apr 2012 | Small Industries Development Bank of India | ₹2.3 Cr | Open |
| 09 Mar 2012 | Small Industries Development Bank of India | ₹7.7 Cr | Open |
Total charge records: 13 View all charges
Deals & Funding
Mahabali Innovative Technologies Private Limited has 8 deals on record (7 secondary share transfers, 1 funding round), with disclosed funding of ₹25 Cr; the latest was in March 2017.
Deals on record (5 of 8)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2017 | Secondary share transfer | Undisclosed | Buyer: Visagar Financial Services Limited Seller: Kalaari Capital |
| Sep 2015 | Secondary share transfer | Undisclosed | Buyer: Babubhai Satra Huf, an individual Seller: 2 individuals |
| Sep 2014 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: Babubhai Bhanji Satra(Huf) |
| Sep 2010 | Funding round | ₹25 Cr | Investors: Kalaari Capital |
| Sep 2008 | Secondary share transfer | Undisclosed | Buyer: 4 individuals Seller: 4 individuals |
: available in the company report
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal Cases
Mahabali Innovative Technologies Private Limited has 218 court cases on record: 209 filed by Mahabali Innovative Technologies, 9 filed against it. 2 cases are pending and 216 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 209 | 4 | 0 |
| High courts | 5 | 5 | 2 |
| NCLT | 3 | 0 | 0 |
| NCLAT | 1 | 0 | 0 |
Cases on record (5 of 218)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Mumbai CMM Courts, Maharashtra | Interim or miscellaneous application | Filed against the company by Idbi Bank Ltd Th Mr Ashish Agrawal | Disposed |
| District court, Mumbai City Civil Court, Maharashtra | Execution petition | Filed against the company by Ms. Dhwani Solutions Pvt. Ltd. | Disposed |
| Bombay High Court | Court case (CHSCD) | Filed against the company by an individual | Pending |
| Bombay High Court | Court case (NMCD) | Filed against the company by an individual | Pending |
| NCLAT, Interlocutory Application | Interim or miscellaneous application | Filed by the company against an individual | Disposed |
: available in 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.
Employees and EPFO Compliance
Mahabali Innovative Technologies Private Limited has a workforce of 144 employees as of Apr 09, 2024.
: available in the company report
Recent Activity
Mahabali Innovative Technologies Private Limited has 8 board changes on record since 1996: 3 appointments and 5 cessations. The latest: Rakesh Kumar Jindal was appointed as Irp/Rp/Liquidator on 24 Jan 2024.
25 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts
: available in the company report
MSME Payment Delays
: available in the company report
Subsidiaries & Group Companies
: available in the company report
GST Compliance
Mahabali Innovative Technologies has 8 GST registrations: 2 active and 6 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 05AACCM6709P1Z3 | Uttarakhand | Active | 01 Jul 2017 |
| 36AACCM6709P1ZY | Telangana | Active | 01 Jul 2017 |
: available in the company report
MCA Filings & Documents
: available in the company report
Frequently Asked Questions
Mahabali Innovative Technologies 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.
Mahabali Innovative Technologies is a company under liquidation, formerly operating as a private limited company based in Mumbai, Maharashtra, India. The company works in IT consulting and support services, within the information technology industry. It was incorporated on 01 May 1996 and is registered under CIN U33005MH1996PTC099218. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Mahabali Innovative Technologies has 3 current directors:
- Viren Nanji Satra - Managing Director
- Babulal Bhanji Satra - Director
- Rakesh Kumar Jindal - Irp/Rp/Liquidator
The latest financial statements of Mahabali Innovative Technologies 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 Mahabali Innovative Technologies is U33005MH1996PTC099218. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Mahabali Innovative Technologies has open charges of ₹55.2 Cr and satisfied charges of ₹49.05 Cr as per latest MCA filings.
Mahabali Innovative Technologies has 218 court cases on record: 209 filed by the company and 9 filed against it. 2 are pending. Most are in the district courts.
Mahabali Innovative Technologies was incorporated on 01 May 1996. It is registered with the Registrar of Companies, Mumbai.
Mahabali Innovative Technologies has 8 deals on record (7 secondary share transfers, 1 funding round), with disclosed funding of ₹25 Cr; the latest was in March 2017.
The peers of Mahabali Innovative Technologies by revenue are Wih Private Limited, Teemteem Private Limited, Shresth Tech Solutions Limited, Evolvescape (India) Pvt Ltd, Marwadi Techtonics Private Limited, all in the Information Technology industry (IT Consulting and Services), with the same principal business activity (other information & communication service activities).
Rakesh Kumar Jindal was appointed as Irp/Rp/Liquidator on 24 Jan 2024. Babulal Bhanji Satra ceased to be Additional Director on 30 Sep 2015. Babulal Bhanji Satra was appointed as Director on 30 Mar 2015. Mahabali Innovative Technologies has 8 board changes on record in total.