About Sovereign Industries Limited
Data last updated:
Sovereign Industries Limited is a public limited company based in Mudhol, Karnataka, 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 sugar processing segment of the agriculture sector. It was incorporated on 05 January 2009.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U74900KA2009PLC069837. Its GSTIN is 29AAPCS2423M2ZS (Karnataka). The company holds 2 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹26 Cr and a paid-up capital of ₹4.22 Cr. It is led by directors including Shivakumar Malagan and Konduru Prasanth Raju (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 2nd Floor Triveni Complex Yadwad Road, Mudhol, Karnataka, India – 587313.
As per MCA filings, the company has open charges of ₹292.04 Cr on record. Court records list 130 cases involving the company, including 82 filed by the company and 48 filed against it; 30 cases are pending.
The last known website on record is sovereignsugars.com.
Company details
CIN history
Sovereign Industries has one previous CIN (Corporate Identification Number): U74900AP2009PLC062456. The current CIN is U74900KA2009PLC069837, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U74900KA2009PLC069837 | Current |
| U74900AP2009PLC062456 | Previous |
Contact details
Sovereign Industries Limited's registered office is in Mudhol, Karnataka. Its website is sovereignsugars.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered Address2nd Floor Triveni Complex Yadwad Road, Mudhol, Karnataka, India – 587313
- IndustryAgriculture, Sugar Processing
To see the full contact details of Sovereign Industries 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 Sovereign Industries Limited
FY 2022 filings availableFinancial Statement Summary
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To see the full financial statements and ratios of Sovereign Industries Limited, buy the company report.
Board of directors of Sovereign Industries Limited
Sovereign Industries has 5 current directors and 9 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Shivakumar Malagan Also directs: Lokapur Cements Limited | Director | 01 Jan 2012 | 14 Years 10 Months | As last reported |
| Konduru Prasanth Raju Also directs: True-Blue Realty Private Limited | Irp/Rp/Liquidator | 18 Mar 2024 | 2 Years 7 Months | As last reported |
| Gurappa Reddi | Director | 05 May 2014 | 12 Years 5 Months | As last reported |
| Basavaraj Ningappa Arakeri | Director | 15 Sep 2017 | 9 Years 1 Months | As last reported |
| Ritesh Raghunath Mahajan Also directs: Ekana Propcon LLP, 5000Camels Hospitality Private Limited | Irp/Rp/Liquidator | 23 Aug 2023 | 3 Years 2 Months | As last reported |
Auditor
Sovereign Industries Limited is audited by NAGAYYACHARANTIMATH for the financial year 2022.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| NAGAYYACHARANTIMATH | FY 2022 | 023441 |
Shareholding
The shareholding of Sovereign Industries Limited is on record for 5 financial years, the latest being FY 2022, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|
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To see the full shareholding pattern of Sovereign Industries Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 07 Jul 2017 | 100107811 | Others | ₹10 Cr | Open | |
| 28 Mar 2017 | 100092512 | Others | ₹7.04 Cr | Open | |
| 22 Jun 2016 | 100033604 | Others | ₹30 Cr | Open | |
| 22 Mar 2016 | 10627958 | The Karnatka State Co-Operative Apex Bank Ltd | ₹35 Cr | Open | |
| 07 Apr 2015 | 10569138 | The Karnatka State Co-Operative Apex Bank Ltd | ₹61 Cr | Open |
To see the full charge records of Sovereign Industries Limited, buy the company report.
Total charge records: 6 View all charges
Legal cases
Sovereign Industries Limited has 130 court cases on record: 82 filed by Sovereign Industries, 48 filed against it. 30 cases are pending and 100 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 111 | 37 | 24 |
| NCLAT | 8 | 8 | 3 |
| High courts | 6 | 3 | 2 |
| Supreme Court | 3 | 0 | 1 |
| NCLT | 2 | 0 | 0 |
Cases on record (5 of 130)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, BAGALKOT, Karnataka | Criminal complaint | Filed by the company against Satishraj Power and Sugars Pvt Ltd R/By Satish S/O Bhupal Sanadi State Maharashtra and 1 other | Disposed |
| District court, BELAGAVI, Karnataka | Execution petition | Filed against the company by Dalmia Cement (Bharat) Ltd. Mr. Abhishek S/O Prakash Mandavkar Age 40Yrs Yadwad TQ Gokak | Disposed |
| District court, Aurangabad, Maharashtra | Criminal miscellaneous application | Filed against the company by M/S Heda Chemicals Pvt Ltd | Disposed |
| District court, Pune, Maharashtra | Civil suit | Filed against the company by Switch Build Engineers (India) Pvt.Ltd.Thru Laxman Dadarao Pawar | Disposed |
| District court, Jodhpur Metro, Rajasthan | Execution petition | Filed against the company by an individual | Pending |
To see the full case history of Sovereign Industries 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 Sovereign Industries Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Sovereign Industries has 2 GST registrations: 1 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAPCS2423M2ZS | Karnataka | Active | 19 May 2023 |
To see the full GST registrations and return filing status of Sovereign Industries Limited, buy the company report.
Recent activity
Sovereign Industries Limited has 14 board changes on record since 2012: 5 appointments and 9 cessations. The latest: Konduru Prasanth Raju was appointed as Irp/Rp/Liquidator on 18 Mar 2024.
12 earlier events are in the company report.
Frequently asked questions
Sovereign Industries 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.
Sovereign Industries is a company under insolvency, formerly operating as a public limited company based in Mudhol, Karnataka, India. The company works in sugar processing, within the agriculture industry. It was incorporated on 05 January 2009 and is registered under CIN U74900KA2009PLC069837. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Sovereign Industries has 5 current directors:
- Shivakumar Malagan - Director
- Gurappa Reddi - Director
- Basavaraj Ningappa Arakeri - Director
- Konduru Prasanth Raju - Irp/Rp/Liquidator
- Ritesh Raghunath Mahajan - Irp/Rp/Liquidator
The latest financial statements of Sovereign Industries 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 Sovereign Industries is U74900KA2009PLC069837. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Sovereign Industries has open charges of ₹292.04 Cr and no satisfied charges on record as per latest MCA filings.
Sovereign Industries has 130 court cases on record: 82 filed by the company and 48 filed against it. 30 are pending. Most are in the district courts.
Sovereign Industries was incorporated on 05 January 2009. It is registered with the Registrar of Companies, Bangalore.
Konduru Prasanth Raju was appointed as Irp/Rp/Liquidator on 18 Mar 2024. Ritesh Raghunath Mahajan was appointed as Irp/Rp/Liquidator on 23 Aug 2023. Mallanna Gundappa Molkeri ceased to be Director on 20 Jan 2021. Sovereign Industries has 14 board changes on record in total.
Sovereign Industries can be reached through the website sovereignsugars.com. Its registered office is in Mudhol, Karnataka, India.
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