Maxgrow India Ltd Company Summary

Maxgrow India Limited was initially incorporated as a firm, in the name of M/s. Apeego. The Firm was then converted into a Private Limited Company vide certificate of incorporation dated 12 January, 1994.

Subsequently , the Company was converted into a Public Limited Company in the name of Apeego Limited vide certificate of change of name dated 17th January, 1994. The name of the Company was changed to Frontline Business Solutions Limited on August 1, 2008, thereafter, it changed to Inanna Fashion and Trends Limited in February, 2016 and further to Maxgrow India Limited on July 27, 2018. The Company was promoted by Anil M Goyel and Prem Goyel.Initially, the Companys main business was exports in readymade garments.

They had two state-of-the-art factories at Bangalore. During the year 2007-08, the management of the Company was transferred to Natwar Sureka and Manju Sureka. Also, the new Management proposed to undertake new business.

At present, Maxgrow India Limited is engaged in trading business.Prior to this, in FY 2010-11, Company had commenced the process for diversification. With continuing existing business activity, the Management diversified its business activities in the fashion industry which includes trading in mens wear and womens wear including inner wears and beauty and personal care products in FY 2014-15. At present, Company is in the business of providing value added One Stop Shop solutions for HR services and Trading.

Amongst the various areas, it encompass Staffing, Sales & Marketing of telecom & financial products, Human Resources Management 7 Solutions, KPO & BPO Solutions, Outbound Call Centers, Back Office Processes, and Event Management etc. Company is structured to cost effective services to customers business by efficiently managing process components. Growing from strength to strength, the Indian BPO/KPO industry widened its base globally by introducing new product portfolio and creating new business verticals.As part of the implementation of the Resolution Plan approved by the Honble National Company Law Tribunal (NCLT) vide its order dated December 06, 2023, under Section 31 of the Insolvency and Bankruptcy Code, 2016, the Company has entered into a share swap arrangement with the Resolution Applicant.

Pursuant to the said arrangement, the Company has acquired 100% stake in PP Metallix Limited, thereby making it a subsidiary of the Company and pursuant to the issuance and allotment of fresh equity shares to M/s Metal Industrial Pte. Limited (Singapore), the Company became a subsidiary of M/s Metal Industrial Pte. Limited (Singapore), which holds 97.82% of equity shares in thecompany with effect from December 23, 2024 and then after the new promoter/holding Company has transferred 5% shareholding from the new promoter Metal Industrial Pte Ltd.

to the Identified Operational Creditors.