Tulunadu Finance and Developments Limited
About Tulunadu Finance and Developments Limited
Data last updated:
Tulunadu Finance and Developments Limited is a public limited company based in Udupi, 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 financial and credit leasing segment of the financial services sector. It was incorporated on 02 February 1985.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U85110KA1985PLC006670.
The company has an authorised share capital of ₹3 Cr and a paid-up capital of ₹1.39 Cr. It is led by directors including Alevoor Vittal Bhat and Belle Vasudeva Samaga.
Its last annual general meeting (AGM) was held on 27 September 2017, and its latest financial statements are for the year ended 31 March 2017. The registered office is at Tulunadutowerscourtroad Udupi, Karnataka, India – 576101.
As per the financials filed for FY 2017, the company reported a revenue of ₹18.06 Lakh, a decline of 61% compared to the previous year. For the same year it recorded a net loss of ₹2.45 Lakh (net margin -13.5%) and EBITDA of -₹1.04 Lakh (EBITDA margin -5.8%).
As per MCA filings, the company has open charges of ₹40 Lakh and satisfied charges of ₹45 Lakh on record. Court records list 223 cases involving the company, including 186 filed by the company and 37 filed against it; 3 cases are pending.
Company details
CIN history
Tulunadu Finance and Developments has one previous CIN (Corporate Identification Number): U65910KA1985PLC006670. The current CIN is U85110KA1985PLC006670, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U85110KA1985PLC006670 | Current |
| U65910KA1985PLC006670 | Previous |
Contact details
Tulunadu Finance and Developments Limited's registered office is in Udupi, Karnataka. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Registered AddressTulunadutowerscourtroad Udupi, Karnataka, India – 576101
- IndustryFinancial Services, Financial & Credit Leasing
To see the full contact details of Tulunadu Finance and Developments 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
Business activity
The main business activity of Tulunadu Finance and Developments is financial and insurance service. In detail, this covers financial and credit leasing activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| K | Financial and insurance Service | K5 | Financial and Credit leasing activities |
To see the full business activity and turnover split of Tulunadu Finance and Developments Limited, buy the company report.
Financials of Tulunadu Finance and Developments Limited
FY 2017 filings availableTulunadu Finance and Developments Limited reported revenue of ₹18.06 Lakh (down 61% YoY) for FY 2017.
Compounded Annual Growth Rate (CAGR)
Revenue fell 61% in the latest year. EBITDA fell 102% in the latest year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|
| Profit and Loss Statement | |||
| Revenue from Operations | ₹18.06 Lakh | ||
| Other Income | |||
| Total Revenue | |||
| Cost of Materials Consumed | |||
| Employee Benefit Expense | |||
| Finance Costs | |||
| Depreciation and Amortisation | |||
| Other Expenses | |||
| Total Expenses | |||
| EBITDA | -₹1.04 Lakh | ||
| Profit Before Tax | |||
| Tax Expense | |||
| Net Profit (PAT) | -₹2.45 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 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|
| Profitability | |||
| EBITDA Margin | -5.8% | ||
| Net Profit Margin | -13.5% | ||
| 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 | |||
To see the full financial statements and ratios of Tulunadu Finance and Developments Limited, buy the company report.
Board of directors of Tulunadu Finance and Developments Limited
Tulunadu Finance and Developments has 4 current directors and 2 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Alevoor Vittal Bhat | Director | 28 Sep 2011 | 15 Years 1 Months | As last reported |
| Belle Vasudeva Samaga | Director | 24 Jun 2000 | 26 Years 4 Months | As last reported |
| Krishnabhat Anantharamachar | Director | 29 Aug 2006 | 20 Years 2 Months | As last reported |
| Shridhara Bhat | Additional Director | 23 Dec 2009 | 16 Years 10 Months | As last reported |
Auditor
Tulunadu Finance and Developments Limited is audited by RAO & SWAMI for the financial year 2017.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| RAO & SWAMI | FY 2017 | 003105S |
Shareholding
The shareholding of Tulunadu Finance and Developments Limited is on record for 2 financial years, the latest being FY 2017, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2017 | FY 2016 |
|---|---|---|
| Promoters | ||
| Domestic institutional investors (DII) | ||
| Foreign institutional investors (FII) | ||
| Public | ||
| Others |
To see the full shareholding pattern of Tulunadu Finance and Developments Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 29 Jan 1998 | 80002258 | Karnataka Bank Limited | ₹40 Lakh | Open | |
| 29 Jan 1998 | 80002264 | Karnataka Bank Limited | ₹40 Lakh | Satisfied | |
| 14 Jun 1996 | 80002266 | Corporation Bank | ₹- | Satisfied | |
| 19 Apr 1995 | 80046790 | The Shamrao Vithal Co-Operative Bank Ltd | ₹5 Lakh | Satisfied |
To see the full charge records of Tulunadu Finance and Developments Limited, buy the company report.
Total charge records: 4 View all charges
Legal cases
Tulunadu Finance and Developments Limited has 223 court cases on record: 186 filed by Tulunadu Finance and Developments, 37 filed against it. 3 cases are pending and 220 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 171 | 13 | 0 |
| High courts | 52 | 24 | 3 |
Cases on record (5 of 223)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Karnataka | Appeal | Filed by the company against Reserve Bank of India | Disposed |
| District court, BENGALURU, Karnataka | Execution petition | Filed by the company against Ms Sunsu Garments P Ltd and 3 others | Disposed |
| High Court of Karnataka | Court case (OSA) | Filed against the company by Reserve Bank of India | Disposed |
| High Court of Karnataka | Interim or miscellaneous application | Filed against the company by Reserve Bank of India | Disposed |
| High Court of Karnataka | Writ petition | Filed against the company by M/S Sudheer Builders Pvt Ltd | Disposed |
To see the full case history of Tulunadu Finance and Developments 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 Tulunadu Finance and Developments Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
No GST registration is on our record for Tulunadu Finance and Developments Limited; the GSTIN and return-filing check is in the company report Buy the company report.
Recent activity
Tulunadu Finance and Developments Limited has 6 board changes on record since 2000: 4 appointments and 2 cessations. The latest: Alevoor Vittal Bhat ceased to be Additional Director on 28 Sep 2012.
4 earlier events are in the company report.
Frequently asked questions
Tulunadu Finance and Developments 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.
Tulunadu Finance and Developments is a company under liquidation, formerly operating as a public limited company based in Udupi, Karnataka, India. The company works in financial and credit leasing, within the financial services industry. It was incorporated on 02 February 1985 and is registered under CIN U85110KA1985PLC006670. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Tulunadu Finance and Developments has 4 current directors:
- Alevoor Vittal Bhat - Director
- Belle Vasudeva Samaga - Director
- Krishnabhat Anantharamachar - Director
- Shridhara Bhat - Additional Director
The latest financial statements of Tulunadu Finance and Developments on record with the MCA are for the year ended 31 March 2017. Its last annual general meeting was held on 27 September 2017. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Tulunadu Finance and Developments is U85110KA1985PLC006670. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Tulunadu Finance and Developments has open charges of ₹40 Lakh and satisfied charges of ₹45 Lakh as per latest MCA filings.
Tulunadu Finance and Developments has 223 court cases on record: 186 filed by the company and 37 filed against it. 3 are pending. Most are in the district courts.
Tulunadu Finance and Developments was incorporated on 02 February 1985. It is registered with the Registrar of Companies, Bangalore.
Alevoor Vittal Bhat ceased to be Additional Director on 28 Sep 2012. Alevoor Vittal Bhat was appointed as Director on 28 Sep 2011. Nidambur Srinivasa Ballal ceased to be Director on 23 Dec 2009. Tulunadu Finance and Developments has 6 board changes on record in total.
The registered office of Tulunadu Finance and Developments is at Tulunadutowerscourtroad Udupi, Karnataka, India – 576101.
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