About Asrec (India) Limited
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Asrec (India) Limited is a public limited union government company based in Mumbai, Maharashtra, India. It operates in the asset reconstruction firms segment of the financial services sector. It was incorporated on 25 November 2003 and has been in existence for over 23 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U67100MH2003GOI143291. Its GSTIN is 27AAECA7990G1ZD (Maharashtra). The company holds 4 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹125 Cr and a paid-up capital of ₹98 Cr. It is led by directors including Girish Sharan Sinha (Managing Director) and Kodumudi Pranatharthiharan Krishnan.
Its last annual general meeting (AGM) was held on 24 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at 2 Solitaire Corporate Park, Mumbai, Maharashtra.
As per the financials filed for FY 2025, the company reported a revenue of ₹103.9 Cr, a growth of 33% compared to the previous year. For the same year it recorded a net loss of ₹464.6 Cr (net margin -447.2%) and EBITDA of -₹451.37 Cr (EBITDA margin -434.4%). Revenue has grown at a compounded annual rate (CAGR) of 20% over three years and 30% over five years.
The company has about 45 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: ASREC. As per MCA filings, the company has open charges of ₹18.1 Cr and satisfied charges of ₹86.55 Cr on record. Court records list 900 cases involving the company, including 503 filed by the company and 397 filed against it; 219 cases are pending. The company has 5 deals on record (5 secondary share transfers); the latest was in March 2023. Its 9 peer companies in the BFSI industry (Asset Reconstruction Companies), with the same principal business activity (other financial activities) are compared by revenue, 4 larger and 5 smaller; the largest is Assets Care & Reconstruction Enterprise Limited with revenue of ₹273.48 Cr.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website asrecindia.co.in.
Company details
CIN history
Asrec (India) has one previous CIN (Corporate Identification Number): U67100MH2003PLC143291. The current CIN is U67100MH2003GOI143291, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U67100MH2003GOI143291 | Current |
| U67100MH2003PLC143291 | Previous |
Contact details
Asrec (India) Limited's registered office is in Mumbai, Maharashtra. Its website is asrecindia.co.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressUnit No. 201 200A 202 & 200B Ground Floor Build No. 2 Solitaire Corporate Park A, Ndheri (E), Mumbai, Maharashtra, India – 400059
- IndustryFinancial Services, Asset Reconstruction Firms
To see the full contact details of Asrec (India) 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
Brands
Asrec (India) operates one associated brand: ASREC. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Provider of asset reconstruction and securitization, resolving non-performing assets | asrecindia.co.in |
Business activity
The main business activity of Asrec (India) is financial and insurance service. In detail, this covers other financial activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| K | Financial and insurance Service | K8 | Other financial activities |
To see the full business activity and turnover split of Asrec (India) Limited, buy the company report.
Financials of Asrec (India) Limited
FY 2024 filings availableAsrec (India) Limited reported revenue of ₹103.9 Cr (up 33% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 30% over five years, including 33% growth in the latest year. EBITDA fell 971% 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 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| EBITDA | -₹451.37 Cr | ||||
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| Net Profit (PAT) | -₹464.6 Cr | ||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -434.4% | ||||
| Net Profit Margin | -447.2% | ||||
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To see the full financial statements and ratios of Asrec (India) Limited, buy the company report.
Board of directors of Asrec (India) Limited
Asrec (India) has 9 current directors and 33 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Kodumudi Pranatharthiharan Krishnan Also directs: Tata Consumer Products Limited, Dr.Reddy's Laboratories Ltd, Helios Trustee Private Limited and 3 more | Director | 25 Apr 2023 | 3 Years 5 Months | Current |
| Girish Sharan Sinha | Managing Director | 01 Oct 2019 | 7 Years 0 Months | Current |
| Varagoor Nagarajan Maya | Nominee Director | 27 Feb 2024 | 2 Years 7 Months | Current |
| Athiyur Badrinarayanan Vijayakumar | Director | 08 Apr 2024 | 2 Years 6 Months | Current |
| Deepak Kumar Gupta | Nominee Director | 14 Jun 2024 | 2 Years 4 Months | Current |
| Natarajan Ranganathan Also directs: Foundation Partners LLP, Schatz Consulting LLP, Navadhan Capital Private Limited and 3 more | Additional Director | 27 Jan 2025 | 1 Years 8 Months | Current |
Peer comparison
Asrec (India) Limited is compared with the 9 companies closest to it by revenue in the BFSI industry (Asset Reconstruction Companies), with the same principal business activity (other financial activities), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Assets Care & Reconstruction Enterprise Limited | ₹273.48 Cr (FY 2025) | -20.0% | New Delhi, Delhi, India | |||
| Suraksha Asset Reconstruction Limited | ₹258.07 Cr (FY 2025) | 127.0% | Mumbai, Maharashtra, India | |||
| Omkara Assets Reconstruction Private Limited | ₹243.2 Cr (FY 2024) | 20.0% | Tirupur, Tamil Nadu, India | |||
| Prudent Arc Limited | ₹234.63 Cr (FY 2025) | 405.0% | New Delhi, Delhi, India | |||
| Asrec (India) Limited this company | ₹103.9 Cr (FY 2025) | -₹464.6 Cr | -447.2% | 33.0% | 45 | Mumbai, Maharashtra, India |
| Rare Asset Reconstruction Limited | ₹84.42 Cr (FY 2025) | 29.0% | Ahmedabad, Gujarat, India | |||
| Pegasus Assets Reconstruction Private Limited | ₹80.87 Cr (FY 2025) | 20.0% | Mumbai, Maharashtra, India | |||
| Reliance Asset Reconstruction Company Limited | ₹79.4 Cr (FY 2025) | 9.0% | Mumbai, Maharashtra, India | |||
| International Asset Reconstruction Company Private Limited | ₹64.91 Cr (FY 2025) | 1371.0% | New Delhi, Delhi, India | |||
| Encore Asset Reconstruction Company Private Limited | ₹61.62 Cr (FY 2025) | 50.0% | New Delhi, Delhi, India |
To see the full peer comparison of Asrec (India) Limited, buy the company report.
Auditor
Asrec (India) Limited is audited by CHOKSHI & CHOKSHI, LLP for the financial year 2018.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| CHOKSHI & CHOKSHI, LLP | FY 2018 | 101872W |
Shareholding
The shareholding of Asrec (India) 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 Asrec (India) Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 04 Dec 2020 | 100403265 | Others | ₹8 Cr | Open | |
| 29 Sep 2020 | 100382880 | Others | ₹10 Lakh | Open | |
| 11 Aug 2020 | 100365927 | Others | ₹10 Cr | Open | |
| 20 Feb 2020 | 100331047 | Others | ₹36.55 Cr | Satisfied | |
| 29 Mar 2011 | 10279969 | Canara Bank | ₹50 Cr | Satisfied |
To see the full charge records of Asrec (India) Limited, buy the company report.
Total charge records: 5 View all charges
Deals & funding
Asrec (India) Limited has 5 deals on record (5 secondary share transfers); the latest was in March 2023.
Deals on record (5 of 5)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2023 | Secondary share transfer | Undisclosed | Buyer: Indian Bank Seller: Allahabad Bank |
| Mar 2010 | Secondary share transfer | Undisclosed | Buyer: Bank Of India Seller: Infrastructure Leasing And Financial Services Limited |
| Mar 2010 | Secondary share transfer | Undisclosed | Buyer: Allahabad Bank, Union Bank Of India, Bank Of India Seller: The Administrator of the Specified Undertaking Of The Unit Trust Of India & R.K. Biswal, The Administrator of the Specified Undertaking Of The Unit Trust Of India & Imtaiyazur Rahman, The Administrator of the Specified Undertaking Of The Unit Trust Of India & Aparna Chaturvedi |
| Oct 2009 | Secondary share transfer | Undisclosed | Buyer: Bank Of India Seller: The Administrator of the Specified Undertaking Of The Unit Trust Of India & Ajeet Prasad |
| Sep 2007 | Secondary share transfer | Undisclosed | Buyer: The Administrator of the Specified Undertaking Of The Unit Trust Of India & R.K. Biswal Seller: The Administrator of the Specified Undertaking Of The Unit Trust Of India & F Q Kolman |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Asrec (India) Limited has 900 court cases on record: 503 filed by Asrec (India), 397 filed against it. 219 cases are pending and 681 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 450 | 108 | 121 |
| High courts | 323 | 206 | 63 |
| NCLAT | 84 | 62 | 31 |
| NCLT | 29 | 7 | 1 |
| Supreme Court | 14 | 14 | 3 |
Cases on record (5 of 900)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, South East, Delhi | Civil suit | Filed against the company by Deluxe - Hi Choice Products Pvt. Ltd. | Pending |
| Supreme Court | Court case | Filed against the company by National Spot Exchange Limited | Pending |
| District court, Mumbai City Civil Court, Maharashtra | Court case (CRI APPEAL) | Filed by the company against Man Infraprojects Limited and Another Three and 1 other | Pending |
| District court, Mumbai CMM Courts, Maharashtra | Interim or miscellaneous application | Filed by the company against Ms in and Out Advertising Private Limited | Pending |
| High Court of Gujarat | Special civil application | Filed against the company by M/S. Zen Lifecare Ltd. | Disposed |
To see the full case history of Asrec (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 Asrec (India) Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Asrec (India) Limited has a workforce of 45 employees on its EPFO records as of Apr 04, 2024, across 1 active EPFO establishment.
GST
Asrec (India) has 4 GST registrations: 1 active and 3 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAECA7990G1ZD | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Asrec (India) Limited, buy the company report.
Recent activity
Asrec (India) Limited has 40 board changes on record since 2008: 9 appointments and 31 cessations. The latest: Malika Prasad was appointed as Additional Director on 24 Mar 2025.
40 earlier events are in the company report.
News
Frequently asked questions
Asrec (India) is an active public limited union government company based in Mumbai, Maharashtra, India. The company works in asset reconstruction firms, within the financial services industry. It was incorporated on 25 November 2003 (23+ years old) and is registered under CIN U67100MH2003GOI143291.
Asrec (India) has 9 current directors:
- Girish Sharan Sinha - Managing Director
- Kodumudi Pranatharthiharan Krishnan - Director
- Varagoor Nagarajan Maya - Nominee Director
- Athiyur Badrinarayanan Vijayakumar - Director
- Deepak Kumar Gupta - Nominee Director
- Natarajan Ranganathan - Additional Director
- Vijayendra Parthasarthy Badida - Director
- Malika Prasad - Additional Director
- Vipan Singh - Additional Director
The latest financial statements of Asrec (India) on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 24 September 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Asrec (India) is 27AAECA7990G1ZD, registered in Maharashtra. The company has 4 GST registrations in all, of which 1 is active and 3 are cancelled or inactive.
The CIN (Corporate Identification Number) of Asrec (India) is U67100MH2003GOI143291. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Asrec (India) has 900 court cases on record: 503 filed by the company and 397 filed against it. 219 are pending. Most are in the district courts.
Asrec (India) was incorporated on 25 November 2003, making it 23+ years old. It is registered with the Registrar of Companies, Mumbai.
Asrec (India) has 5 deals on record (5 secondary share transfers); the latest was in March 2023.
The peers of Asrec (India) by revenue are Assets Care & Reconstruction Enterprise Limited, Suraksha Asset Reconstruction Limited, Omkara Assets Reconstruction Private Limited, Prudent Arc Limited, Rare Asset Reconstruction Limited and 4 more, all in the BFSI industry (Asset Reconstruction Companies), with the same principal business activity (other financial activities).
Malika Prasad was appointed as Additional Director on 24 Mar 2025. Natarajan Ranganathan was appointed as Additional Director on 27 Jan 2025. Athiyur Badrinarayanan Vijayakumar ceased to be Additional Director on 23 Sep 2024. Asrec (India) has 40 board changes on record in total.
Asrec (India) can be reached through the website asrecindia.co.in. Its registered office is in Mumbai, Maharashtra, India.