About Polar Pharma India Limited
Data last updated:
Polar Pharma India Limited is a public limited company based in Balasore, Odisha, 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 medical consumables and supplies segment of the healthcare sector. It was incorporated on 20 December 1988.
The company is registered with the Registrar of Companies (ROC), Cuttack, under CIN L25199OR1988PLC002144. It is recorded as listed by MCA, but its shares were delisted from BSE on 05 Mar 2018 · compulsory delisting, and no longer trade on a stock exchange.
The company has an authorised share capital of ₹23 Cr and a paid-up capital of ₹13.52 Cr. It is led by directors including Anil Kumar Agarwal (Managing Director) and Sunil Agarwal (Whole-Time Director).
Its last annual general meeting (AGM) was held on 29 September 2012, and its latest financial statements are for the year ended 31 March 2012. The registered office is at Somanathpur Industrial Estatevia: Remuna, Balasore, Odisha, India – 756019.
As per MCA filings, the company has open charges of ₹119.2 Cr on record. Court records list 26 cases involving the company, including 14 filed by the company and 12 filed against it; 6 cases are pending. The company has 21 deals on record (21 market trades); the latest was in June 2011.
The last known website on record is polarinc.com.
Company details
Contact details
Polar Pharma India Limited's registered office is in Balasore, Odisha.
- Registered AddressSomanathpur Industrial Estatevia: Remuna, Balasore, Odisha, India – 756019
- IndustryHealthcare, Medical Consumables & Supplies, Medical & Laboratory Equipment
- 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 Polar Pharma India Limited
FY 2012 filings availableFinancial Statement Summary
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To see the full financial statements and ratios of Polar Pharma India Limited, buy the company report.
Board of directors of Polar Pharma India Limited
Polar Pharma India has 4 current directors and 14 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ved Prakash Jain | Director | 07 Apr 2009 | 17 Years 6 Months | As last reported |
| Kishan Lal Sharma Also directs: Sheffield Appliances Limited, Dhruviya International Limited, Koyo Tech Electro Private Limited and 3 more | Director | 05 Jan 2012 | 14 Years 9 Months | As last reported |
| Anil Kumar Agarwal Also directs: Polar Industries Ltd, Sheffield Appliances Limited, Artica Forging and Tools Limited and 5 more | Managing Director | 20 Dec 1988 | 37 Years 10 Months | As last reported |
| Sunil Agarwal Also directs: Polar Industries Ltd | Whole-Time Director | 20 Dec 1988 | 37 Years 10 Months | As last reported |
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 19 Jul 2006 | 10015056 | State Bank of Hyderabad | ₹2.3 Cr | Open | |
| 30 May 2005 | 90082123 | State Bank of Hyderabad | ₹1.5 Cr | Open | |
| 02 Jul 2002 | 90080012 | Allahabad Bank | ₹2.1 Cr | Open | |
| 20 Jun 2002 | 90080006 | State Bank of Hyderabad | ₹50 Lakh | Open | |
| 08 May 2001 | 90081074 | Allahabad Bank | ₹9.6 Cr | Open |
To see the full charge records of Polar Pharma India Limited, buy the company report.
Total charge records: 27 View all charges
Deals & funding
Polar Pharma India Limited has 21 deals on record (21 market trades); the latest was in June 2011.
Deals on record (5 of 21)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jul 2010 | Market trade | ₹3.5 Lakh | Seller: Jyoti Broking Private Limited |
| Jul 2010 | Market trade | ₹4.5 Lakh | Buyer: Jyoti Broking Private Limited Seller: Keemtee Financial Services Limited |
| Mar 2009 | Market trade | ₹4.3 Lakh | Buyer: 2 individuals Seller: Polar Industries Ltd |
| Nov 2007 | Market trade | ₹7.1 Lakh | Seller: Ryot Impex Private Limited |
| Nov 2007 | Market trade | ₹15.9 Lakh | Seller: Ryot Impex Private Limited |
To see the full deal history of Polar Pharma India 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
Polar Pharma India Limited has 26 court cases on record: 14 filed by Polar Pharma India, 12 filed against it. 6 cases are pending and 20 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 14 | 7 | 6 |
| High courts | 9 | 4 | 0 |
| Supreme Court | 3 | 1 | 0 |
Cases on record (5 of 26)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Calcutta, West Bengal | Civil suit | Filed against the company by HDFC Bank Ltd. | Pending |
| High Court of Delhi | Writ petition | Filed against the company by Phoenix Arc Pvt Ltd | Disposed |
| High Court | Arbitration matter | Filed against the company by Diamond Apartments Pvt Ltd. | Disposed |
| High Court | Court case (COPET) | Filed against the company by Diamond Apartments Pvt.Ltd. | Disposed |
| District court, Calcutta, West Bengal | Civil suit | Filed by the company against Welgrow Line (North India) Pvt. Ltd. and 3 others | Disposed |
To see the full case history of Polar Pharma India 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 Polar Pharma India 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 Polar Pharma India Limited; the GSTIN and return-filing check is in the company report Buy the company report.
Recent activity
Polar Pharma India Limited has 28 board changes on record since 1988: 16 appointments and 12 cessations. The latest: Madhusudan Mishra ceased to be Director on 20 Dec 2012.
66 earlier events are in the company report.
Frequently asked questions
Polar Pharma India 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.
Polar Pharma India is a company under liquidation, formerly operating as a public limited company based in Balasore, Odisha, India. The company works in medical consumables and supplies, within the healthcare industry. It was incorporated on 20 December 1988 and is registered under CIN L25199OR1988PLC002144. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Polar Pharma India has 4 current directors:
- Anil Kumar Agarwal - Managing Director
- Sunil Agarwal - Whole-Time Director
- Ved Prakash Jain - Director
- Kishan Lal Sharma - Director
The latest financial statements of Polar Pharma India on record with the MCA are for the year ended 31 March 2012. Its last annual general meeting was held on 29 September 2012. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Polar Pharma India is L25199OR1988PLC002144. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Polar Pharma India is recorded as a listed company by MCA, but its shares were delisted from BSE on 05 Mar 2018 · compulsory delisting, and no longer trade on a stock exchange.
Polar Pharma India has open charges of ₹119.2 Cr and no satisfied charges on record as per latest MCA filings.
Polar Pharma India has 26 court cases on record: 14 filed by the company and 12 filed against it. 6 are pending. Most are in the district courts.
Polar Pharma India was incorporated on 20 December 1988. It is registered with the Registrar of Companies, Cuttack.
Polar Pharma India has 21 deals on record (21 market trades); the latest was in June 2011.