Primus Retail Private Limited
About Primus Retail Private Limited
Data last updated:
Primus Retail Private Limited is a private limited company based in Bangalore, Karnataka, 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 fashion retail segment of the fashion and textiles sector. It was incorporated on 29 November 1995.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U65999KA1995PTC019281. The company has 7 GST registrations on record, none of which is active.
The company has an authorised share capital of ₹199.02 Cr and a paid-up capital of ₹99.5 Cr. It was formerly known as Gitanjali Lifestyle Products Private Limited. and Gitanjali Investments Private Limited. It is led by directors including Balaji Venugopal Bhat (Managing Director) and Palepu Sudhir Rao.
Its last annual general meeting (AGM) was held on 31 March 2011, and its latest financial statements are for the year ended 30 September 2010. The registered office is at No. 7 Plot No. 940 (Old 740) Gate No.11 Eshwari Industrial Estate Hulimavu, Bangalore, Karnataka, India – 560076.
As per MCA filings, the company has open charges of ₹77.53 Cr and satisfied charges of ₹54.76 Cr on record. Court records list 152 cases involving the company, including 35 filed by the company and 117 filed against it; 11 cases are pending. The company has 6 deals on record (4 secondary share transfers, 2 funding rounds), with disclosed funding of ₹99.5 Cr; the latest was in March 2011.
Company details
Name history
Primus Retail has undergone 2 name changes throughout its history. The company was previously known as Gitanjali Lifestyle Products Private Limited., and Gitanjali Investments Private Limited. The current legal name is Primus Retail Private Limited.
| Company Name | Status |
|---|---|
| Primus Retail Private Limited | Current |
| Gitanjali Lifestyle Products Private Limited. | Previous |
| Gitanjali Investments Private Limited | Previous |
Contact details
Primus Retail Private Limited's registered office is in Bangalore, Karnataka.
- Social Media
- Registered AddressNo. 7 Plot No. 940 (Old 740) Gate No.11 Eshwari Industrial Estate Hulimavu, Bangalore, Karnataka, India – 560076
- IndustryFashion and Textile, Fashion Retail
- 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 Primus Retail Private Limited
FY 2010 filings availableFinancial Statement Summary
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To see the full financial statements and ratios of Primus Retail Private Limited, buy the company report.
Board of directors of Primus Retail Private Limited
Primus Retail 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 |
|---|---|---|---|---|
| Palepu Sudhir Rao Also directs: Indusage Capital Managers LLP, Indusage Seed Capital LLP, Celesta India Aif LLP and 5 more | Director | 04 Nov 2006 | 19 Years 11 Months | As last reported |
| Raju Mohandas Mahtaney | Additional Director | 12 Sep 2011 | 15 Years 1 Months | As last reported |
| Balaji Venugopal Bhat | Managing Director | 30 Sep 2005 | 21 Years 0 Months | As last reported |
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 13 Oct 2011 | 10311377 | Rodman Technologies Private Limited. | ₹3 Cr | Open | |
| 27 Aug 2010 | 10239272 | Epsilon Ventures Private Limited | ₹8 Cr | Open | |
| 24 Jun 2010 | 10229544 | Religare Finvest Limited | ₹3 Cr | Open | |
| 18 Jan 2010 | 10199167 | Andhra Bank | ₹5 Cr | Open | |
| 17 Dec 2009 | 10198267 | Allahabad Bank | ₹7.25 Cr | Open |
To see the full charge records of Primus Retail Private Limited, buy the company report.
Total charge records: 12 View all charges
Deals & funding
Primus Retail Private Limited has 6 deals on record (4 secondary share transfers, 2 funding rounds), with disclosed funding of ₹99.5 Cr; the latest was in March 2011.
Deals on record (5 of 6)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2011 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: Primus Employees Stock Option Trust |
| Aug 2010 | Secondary share transfer | Undisclosed | Buyer: Growsafe Securities Private Limited, Aambind Private Limited Seller: Firefly Holdings Private Limited |
| Mar 2008 | Secondary share transfer | Undisclosed | Buyer: 3 individuals Seller: Primus Employees Stock Option Trust, an individual |
| May 2007 | Funding round · Series B | ₹65 Cr | Investors: K Mohan and Company (Exports) Private Limited , Ascent Capital Advisors India, 2 individuals |
| Mar 2007 | Secondary share transfer | Undisclosed | Buyer: Firefly Holdings Private Limited, Aambind Private Limited Seller: K Mohan and Company (Exports) Private Limited |
To see the full deal history of Primus Retail Private 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
Primus Retail Private Limited has 152 court cases on record: 35 filed by Primus Retail, 117 filed against it. 11 cases are pending and 141 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 85 | 78 | 9 |
| High courts | 67 | 39 | 2 |
Cases on record (5 of 152)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Calcutta, West Bengal | Civil suit | Filed against the company by Acknit Industries Ltd. | Pending |
| District court, Calcutta, West Bengal | Court case (CN) | Filed against the company by Deoki Hosiery Pvt. Ltd. | Pending |
| High Court of Karnataka | Court case (RP) | Filed by the company against M/S. Personality Limited and 1 other | Disposed |
| Bombay High Court | Writ petition | Filed against the company by M/S Madhusudan Securities Limited | Disposed |
| District court, Calcutta, West Bengal | Civil suit | Filed against the company by Acknit Industries Ltd. | Disposed |
To see the full case history of Primus Retail 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 Primus Retail Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Primus Retail has 7 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 Primus Retail Private Limited, buy the company report.
Recent activity
Primus Retail Private Limited has 8 board changes on record since 2005: 3 appointments and 5 cessations. The latest: Raju Mohandas Mahtaney was appointed as Additional Director on 12 Sep 2011.
21 earlier events are in the company report.
Frequently asked questions
Primus Retail 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.
Primus Retail is a company under liquidation, formerly operating as a private limited company based in Bangalore, Karnataka, India. The company works in fashion retail, within the fashion and textile industry. It was incorporated on 29 November 1995 and is registered under CIN U65999KA1995PTC019281. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Primus Retail has 3 current directors:
- Balaji Venugopal Bhat - Managing Director
- Palepu Sudhir Rao - Director
- Raju Mohandas Mahtaney - Additional Director
The latest financial statements of Primus Retail on record with the MCA are for the year ended 30 September 2010. Its last annual general meeting was held on 31 March 2011. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Primus Retail is U65999KA1995PTC019281. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Primus Retail has open charges of ₹77.53 Cr and satisfied charges of ₹54.76 Cr as per latest MCA filings.
Primus Retail has 152 court cases on record: 35 filed by the company and 117 filed against it. 11 are pending. Most are in the district courts.
Primus Retail was incorporated on 29 November 1995. It is registered with the Registrar of Companies, Bangalore.
Primus Retail has 6 deals on record (4 secondary share transfers, 2 funding rounds), with disclosed funding of ₹99.5 Cr; the latest was in March 2011.
Raju Mohandas Mahtaney was appointed as Additional Director on 12 Sep 2011. Raju Mohandas Mahtaney ceased to be Director on 07 Sep 2011. Ajay Subhash Mittal ceased to be Nominee Director on 11 Apr 2011. Primus Retail has 8 board changes on record in total.