About Associated Chit Fund Private Limited
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Associated Chit Fund Private Limited is a private limited company based in Pune, Maharashtra, India. It operates in the microfinance institutions segment of the financial services sector. It was incorporated on 06 July 2004 and has been in existence for over 22 years.
The company is registered with the Registrar of Companies (ROC), Pune, under CIN U65992PN2004PTC019476. Its GSTIN is 27AAECA7868H2Z9 (Maharashtra). The company holds 2 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹7 Cr and a paid-up capital of ₹5.95 Cr. It is led by directors including Saji Varkey (Whole-Time Director) and Harinarayanan Kandanath Raman.
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 is at 137 1st Floor Fusion Park Morwadi Ajmera Road Pimpri, Pune, Maharashtra, India – 411018.
As per the financials filed for FY 2024, the company reported a revenue of ₹17.85 Lakh, a decline of 96% compared to the previous year. For the same year it recorded a net loss of ₹1.64 Cr and EBITDA of -₹1.41 Cr. Revenue has declined at a compounded annual rate (CAGR) of 51% over three years and 53% over five years.
The company has about 1 employee on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹52.95 Lakh and satisfied charges of ₹3.49 Cr on record. Court records list 1,219 cases involving the company, including 1,215 filed by the company and 4 filed against it; 535 cases are pending. The company has 9 deals on record (8 funding rounds, 1 secondary share transfer), with disclosed funding of ₹1.89 Cr; the latest was in March 2018. Its 3 peer companies in the BFSI industry (Micro Finance), with the same principal business activity (activities auxiliary to financial service and insurance activities) are compared by revenue, 1 larger and 2 smaller; the largest is Sri Sarvam Sai Chits Private Limited with revenue of ₹18.01 Lakh. The company has 1 MSME Form 1 return on record for the period ending Mar 2019, listing 6 overdue payments to 2 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website finfraternity.com.
Company details
Contact details
Associated Chit Fund Private Limited's registered office is in Pune, Maharashtra. Its website is finfraternity.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address137 1st Floor Fusion Park Morwadi Ajmera Road Pimpri, Pune, Maharashtra, India – 411018
- IndustryFinancial Services, Microfinance Institutions
To see the full contact details of Associated Chit Fund 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
Business activity
The main business activity of Associated Chit Fund is financial and insurance activities. In detail, this covers activities auxiliary to financial service and insurance activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| K | Financial and insurance activities | 66 | Activities auxiliary to financial service and insurance activities |
To see the full business activity and turnover split of Associated Chit Fund Private Limited, buy the company report.
Financials of Associated Chit Fund Private Limited
FY 2024 filings availableAssociated Chit Fund Private Limited reported revenue of ₹17.85 Lakh (down 96% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 53% over five years, including a 96% fall in the latest year. EBITDA fell 753% 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 | -₹1.41 Cr | ||||
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| Net Profit (PAT) | -₹1.64 Cr | ||||
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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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To see the full financial statements and ratios of Associated Chit Fund Private Limited, buy the company report.
Board of directors of Associated Chit Fund Private Limited
Associated Chit Fund has 3 current directors and 9 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Saji Varkey Also directs: Associated Fincorp & Chits (I) Private Limited | Whole-Time Director | 06 Jul 2004 | 22 Years 3 Months | Current |
| Harinarayanan Kandanath Raman Also directs: Associated Fincorp & Chits (I) Private Limited | Director | 28 Feb 2019 | 7 Years 7 Months | Current |
| Philip Johnson Also directs: Associated Fincorp & Chits (I) Private Limited | Additional Director | 20 Dec 2025 | 0 Years 10 Months | Current |
Peer comparison
Associated Chit Fund Private Limited is compared with the 3 companies closest to it by revenue in the BFSI industry (Micro Finance), with the same principal business activity (activities auxiliary to financial service and insurance activities), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Sri Sarvam Sai Chits Private Limited | ₹18.01 Lakh (FY 2025) | 225.0% | Bangalore, Karnataka, India | |||
| Associated Chit Fund Private Limitedthis company | ₹17.85 Lakh (FY 2024) | -₹1.64 Cr | -96.0% | 1 | Pune, Maharashtra, India | |
| MFC Chits Private Limited | ₹17.78 Lakh (FY 2025) | 3.0% | Mysore, Karnataka, India | |||
| K V C Chits Private Limited | ₹17.33 Lakh (FY 2025) | 0.0% | Mysore, Karnataka, India |
To see the full peer comparison of Associated Chit Fund Private Limited, buy the company report.
Auditor
Associated Chit Fund Private Limited is audited by BANG AND ASSOCIATES for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| BANG AND ASSOCIATES | FY 2023 | 129621W |
Shareholding
The shareholding of Associated Chit Fund Private Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Associated Chit Fund Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 05 Jul 2017 | 100168111 | The South Indian Bank Limited | ₹28.65 Lakh | Satisfied | |
| 30 Jun 2017 | 100168109 | Others | ₹24.3 Lakh | Satisfied | |
| 03 Mar 2014 | 10486387 | South Indian Bank Limited | ₹26.11 Lakh | Satisfied | |
| 22 Jul 2013 | 10440042 | Punjab National Bank | ₹7.13 Lakh | Satisfied | |
| 21 May 2013 | 10431990 | Others | ₹2.4 Cr | Satisfied |
To see the full charge records of Associated Chit Fund Private Limited, buy the company report.
Total charge records: 7 View all charges
Deals & funding
Associated Chit Fund Private Limited has 9 deals on record (8 funding rounds, 1 secondary share transfer), with disclosed funding of ₹1.89 Cr; the latest was in March 2018.
Deals on record (5 of 9)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2018 | Funding round | ₹75.5 Lakh | Investors: 4 individuals |
| Mar 2016 | Funding round | ₹31.6 Lakh | Investors: 4 individuals |
| Jan 2013 | Funding round | ₹7.8 Lakh | Investors: 4 individuals |
| Mar 2012 | Funding round | ₹32 Lakh | Investors: 4 individuals |
| Feb 2011 | Funding round | ₹16 Lakh | Investors: 4 individuals |
To see the full deal history of Associated Chit Fund 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
Associated Chit Fund Private Limited has 1,219 court cases on record: 1,215 filed by Associated Chit Fund, 4 filed against it. 535 cases are pending and 684 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 1,217 | 4 | 535 |
| High courts | 2 | 0 | 0 |
Cases on record (5 of 1,219)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Pune, Maharashtra | Court case (Civil M.A.) | Filed against the company by an individual | Pending |
| District court, Thane, Maharashtra | Court case (Reg Dkst) | Filed by the company against Venkatesh Enterprises and Other | Pending |
| District court, Pune, Maharashtra | Execution petition | Filed by the company against an individual | Pending |
| District court, Pune, Maharashtra | Execution petition | Filed by the company against an individual | Pending |
| District court, Pune, Maharashtra | Execution petition | Filed by the company against an individual | Pending |
To see the full case history of Associated Chit Fund 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
Associated Chit Fund Private Limited has 1 MSME Form 1 return on record for the period ending Mar 2019, listing 6 overdue payments to 2 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (2 of 2)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| an individual supplier |
To see the full MSME payment records of Associated Chit Fund Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Associated Chit Fund Private Limited has a workforce of 1 employees on its EPFO records as of Apr 06, 2024, across 1 active EPFO establishment.
GST
Associated Chit Fund has 2 GST registrations: 1 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAECA7868H2Z9 | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Associated Chit Fund Private Limited, buy the company report.
Recent activity
Associated Chit Fund Private Limited has 12 board changes on record since 2004: 3 appointments and 9 cessations. The latest: Philip Johnson was appointed as Additional Director on 20 Dec 2025.
18 earlier events are in the company report.
Frequently asked questions
Associated Chit Fund is an active private limited company based in Pune, Maharashtra, India. The company works in microfinance institutions, within the financial services industry. It was incorporated on 06 July 2004 (22+ years old) and is registered under CIN U65992PN2004PTC019476.
Associated Chit Fund has 3 current directors:
- Saji Varkey - Whole-Time Director
- Harinarayanan Kandanath Raman - Director
- Philip Johnson - Additional Director
The latest financial statements of Associated Chit Fund 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 Associated Chit Fund is 27AAECA7868H2Z9, registered in Maharashtra. The company has 2 GST registrations in all, of which 1 is active and 1 is cancelled or inactive.
The CIN (Corporate Identification Number) of Associated Chit Fund is U65992PN2004PTC019476. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Associated Chit Fund has 1,219 court cases on record: 1,215 filed by the company and 4 filed against it. 535 are pending. Most are in the district courts.
Associated Chit Fund was incorporated on 06 July 2004, making it 22+ years old. It is registered with the Registrar of Companies, Pune.
Associated Chit Fund has 9 deals on record (8 funding rounds, 1 secondary share transfer), with disclosed funding of ₹1.89 Cr; the latest was in March 2018.
The peers of Associated Chit Fund by revenue are Sri Sarvam Sai Chits Private Limited, MFC Chits Private Limited, K V C Chits Private Limited, all in the BFSI industry (Micro Finance), with the same principal business activity (activities auxiliary to financial service and insurance activities).
Philip Johnson was appointed as Additional Director on 20 Dec 2025. Premkumar Shankaran Nair ceased to be Director on 24 Nov 2022. Kizhakayil Mathew Roy ceased to be Director on 02 Jun 2021. Associated Chit Fund has 12 board changes on record in total.
Associated Chit Fund has 1 MSME Form 1 return on record for the period ending Mar 2019, listing 6 overdue payments to 2 micro and small suppliers. The latest return was filed on 23 Aug 2019.
Associated Chit Fund can be reached through the website finfraternity.com. Its registered office is in Pune, Maharashtra, India.