AFLOAT Enterprises Ltd Company Summary

AFLOAT Enterprises Ltd Summary

Adishakti Loha and Ispat Limited was originally incorporated as Aawas Infratech Private Limited on January 08, 2015 under the Companies Act, 2013 with a Certificate of Incorporation issued by the Registrar of Companies, Delhi. Thereafter a fresh Certificate of Incorporation consequent upon change of name from Aawas Infratech Private Limited to Adishakti Loha and Ispat Private Limited was issued by the Registrar of Companies, Delhi on October 01, 2019. Subsequently, Company was converted into a Public Limited Company and a fresh Certificate of Incorporation consequent upon conversion of Company to Public Limited Company in the name of the Adishakti Loha and Ispat Limited was granted by the Registrar of Companies, Delhi on March 04, 2020. The Company is promoted by Mr. Pawan Kumar Mittal, who owns and controls the Company along with his family members. He oversees all the operations of Company and leads Management Team.The Company is engaged in the business of trading in metals with its core focus being trading in Iron and Steel. Initially, the Company was incorporated with the object of managing, undertaking, carrying on and engaging in the business of Real Estate Development, Land Development and associated activities. The Company operates from its registered office located at Plot 3, Shop 325, DDA Community Centre, Aggarwal Plaza, Sector-14, Rohini, New Delhi 110085. Further, Company carries out its operations from Godown located at KN/C-22 A(1), Rai Kedar Nath Margh, Gali No. 10, Anand Parbat Industrial Area, New Delhi - 110005. The Company is using the said premises as its Godown in terms of Rent Agreement dated August 26, 2020.The Company operate as an intermediary to customers. It is currently serving the corporate and other clients. The Company work on a B2B model and the procurement of goods is carried out by it on order basis, owing to which, it do not maintain any inventory as the goods are supplied directly from supplier to customer. The Company face the competition in business from other existing traders and manufacturers of the products it trades in. The Company compete with its competitors on a regional or product line basis. Many of the competitors have substantially large capital base and resources and offer broader range products. The Company believe that the principal factors affecting competition in business include client relationships, reputation, the abilities of employees, market focus and the relative quality and price of the services and products.On January 30, 2020, Rights Issue of 27,28,000 Equity Shares was made by the Company.