About True North Corporate Private Limited
Data last updated:
True North Corporate Private Limited was a private limited company based in Mumbai, Maharashtra, India. The company has been amalgamated - it was merged with another entity and no longer exists as a separate legal entity. It operated in the diversified financial services segment of the financial services sector. It was incorporated on 28 August 2006.
The company was registered with the Registrar of Companies (ROC), Mumbai, under CIN U74140MH2006PTC164125. Its GSTIN is 27AABCI5623F1ZS (Maharashtra). The company held 2 GST registrations, all of them active.
The company had an authorised share capital of ₹10 Cr and a paid-up capital of ₹1.34 Cr. It was formerly known as Ivf Advisors Private Limited. It was led by directors Vishal Gangadhar Nevatia and Rajagopalan Santhanam.
Its last annual general meeting (AGM) was held on 30 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office was at Suite F9C Grand Hyatt Plaza Santacruz (East), Mumbai, Maharashtra, India – 400055.
As per the financials filed for FY 2024, the company reported a revenue of ₹1.82 Cr, a decline of 56% compared to the previous year. For the same year it recorded a net loss of ₹77,150 (net margin -0.4%) and EBITDA of -₹8.49 Lakh (EBITDA margin -4.7%). Revenue has declined at a compounded annual rate (CAGR) of 117% over three years and 25% over five years.
The company had about 1 employee on its provident fund (EPFO) records before it was dissolved.
Court records list 2 cases involving the company, including 2 filed against it. The company has 12 deals on record (10 secondary share transfers, 2 funding rounds), with disclosed funding of ₹2.82 Cr; the latest was in February 2024.
The last known website on record is truenorth.co.in.
Company details
Contact details
True North Corporate Private Limited's registered office is in Mumbai, Maharashtra. Its website is truenorth.co.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressSuite F9C Grand Hyatt Plaza Santacruz (East), Mumbai, Maharashtra, India – 400055
- IndustryFinancial Services, Diversified Financial Services
To see the full contact details of True North Corporate Private 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 True North Corporate Private Limited
FY 2024 filings availableTrue North Corporate Private Limited reported revenue of ₹1.82 Cr (down 56% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 25% over five years, including a 56% fall in the latest year. EBITDA fell 103% 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 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
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| EBITDA | -₹8.49 Lakh | ||||
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| Net Profit (PAT) | -₹77,150 | ||||
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Financial Ratios
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
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| Profitability | |||||
| EBITDA Margin | -4.7% | ||||
| Net Profit Margin | -0.4% | ||||
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To see the full financial statements and ratios of True North Corporate Private Limited, buy the company report.
Board of directors of True North Corporate Private Limited
True North Corporate has 2 current directors and 11 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Vishal Gangadhar Nevatia Also directs: True North Managers LLP, True North Credit Fund Managers LLP, True North (Gift) Sponsor LLP and 3 more | Director | 28 Aug 2006 | 20 Years 2 Months | As last reported |
| Rajagopalan Santhanam | Additional Director | 15 Oct 2024 | 2 Years 0 Months | As last reported |
Auditor
True North Corporate Private Limited is audited by Deloitte Haskins & Sells LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Deloitte Haskins & Sells LLP | FY 2023 | 117366W/W-100018 |
Shareholding
The shareholding of True North Corporate Private Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of True North Corporate Private Limited, buy the company report.
Deals & funding
True North Corporate Private Limited has 12 deals on record (10 secondary share transfers, 2 funding rounds), with disclosed funding of ₹2.82 Cr; the latest was in February 2024.
Deals on record (5 of 12)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Feb 2024 | Secondary share transfer | Undisclosed | Buyer: True North Capital Trust Seller: Sharmila Dalmia Parivar Trust, an individual |
| Jun 2023 | Secondary share transfer | Undisclosed | Buyer: True North Capital Trust Seller: Housing Development Finance Corporation Limited |
| Dec 2022 | Secondary share transfer | Undisclosed | Buyer: True North Ventures Private Limited Seller: Sharmila Dalmia Parivar Trust, Housing Development Finance Corporation Limited , an individual |
| Dec 2022 | Secondary share transfer | Undisclosed | Buyer: True North Ventures Private Limited Seller: IVF III LP Interests LLC |
| Mar 2008 | Funding round | ₹2.39 Cr | Investors: Goa GP Holding LLC, True North Capital Trust, Housing Development Finance Corporation Limited , an individual |
To see the full deal history of True North Corporate 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
True North Corporate Private Limited has 2 court cases on record: 2 filed against it. All cases are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 2 | 2 | 0 |
Cases on record (2 of 2)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Tax appeal | Filed against the company by PR. Commissioner of Income Tax - 14 | Disposed |
| Bombay High Court | Tax appeal | Filed against the company by PR. Commissioner of Income-Tax-14 | Disposed |
To see the full case history of True North Corporate 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 True North Corporate Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
True North Corporate Private Limited has a workforce of 1 employees on its EPFO records as of Mar 31, 2024, across 1 active EPFO establishment.
GST
True North Corporate has 2 GST registrations: 2 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AABCI5623F1ZS | Maharashtra | Active | 01 Jul 2017 |
| 29AABCI5623F1ZO | Karnataka | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of True North Corporate Private Limited, buy the company report.
Recent activity
True North Corporate Private Limited has 13 board changes on record since 2006: 2 appointments and 11 cessations. The latest: Gaurav Dalmia ceased to be Director on 16 Oct 2024.
4 earlier events are in the company report.
News
Frequently asked questions
True North Corporate has been "Amalgamated" (merged) as per MCA records. The company was combined with another entity and no longer exists as a separate legal entity. Business activities, if any, continue under the successor entity.
True North Corporate was a private limited company based in Mumbai, Maharashtra, India. The company worked in diversified financial services, within the financial services industry. It was incorporated on 28 August 2006 and is registered under CIN U74140MH2006PTC164125. The company is recorded as amalgamated in MCA records and no longer exists as a legal entity.
True North Corporate was incorporated on 28 August 2006. It is registered with the Registrar of Companies, Mumbai.
True North Corporate had 2 directors:
- Vishal Gangadhar Nevatia - Director
- Rajagopalan Santhanam - Additional Director
The CIN (Corporate Identification Number) of True North Corporate is U74140MH2006PTC164125. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
The registered office of True North Corporate is at Suite F9C Grand Hyatt Plaza Santacruz East, Mumbai, Maharashtra, India – 400055.
True North Corporate can be reached through the website truenorth.co.in. Its registered office is in Mumbai, Maharashtra, India.
The latest financial statements of True North Corporate on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 30 September 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of True North Corporate is 27AABCI5623F1ZS, registered in Maharashtra. The company has 2 GST registrations in all, of which 2 are active. Other active GSTINs include 29AABCI5623F1ZO (Karnataka).
True North Corporate operated in the financial services industry, in the diversified financial services segment.
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