About Indusage Techapp Private Limited
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Indusage Techapp Private Limited is a private limited company based in Bangalore, Karnataka, India, a subsidiary of Trustroot Internet Private Limited. It operates in the online financial services segment of the internet and digital services sector. It was incorporated on 07 February 2020 and has been in existence for over 6 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U74110KA2020PTC132436. Its GSTIN is 29AAFCI5762H1Z8 (Karnataka). The company holds 4 GST registrations, of which 3 are active.
The company has an authorised share capital of ₹15 Cr and a paid-up capital of ₹11.9 Cr. It was formerly known as Indusbuy Techserve Private Limited and Indusbuy Cash N Carry Private Limited. It is led by directors Shivendra Vikram Srinet and Shilpa Sreenivasa Reddy.
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Bangalore, Karnataka.
As per the financials filed for FY 2023, the company reported a revenue of ₹90.33 Cr, a decline of 10% compared to the previous year. For the same year it recorded a net loss of ₹45.75 Cr (net margin -50.6%) and EBITDA of -₹45.98 Cr (EBITDA margin -50.9%).
The company has about 47 employees on its provident fund (EPFO) records.
The company is associated with 2 brands: TimePay and udaanCapital. Court records list 9 cases involving the company, including 8 filed by the company and 1 filed against it; 2 cases are pending. The company has 4 deals on record (3 rights issues, 1 secondary share transfer); the latest was in March 2024. The company has 7 MSME Form 1 returns on record between 2021 and 2024, listing 14 overdue payments to 9 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 udaancapital.com.
Company details
Name history
Indusage Techapp has undergone 2 name changes throughout its history. The company was previously known as Indusbuy Techserve Private Limited, and Indusbuy Cash N Carry Private Limited. The current legal name is Indusage Techapp Private Limited.
| Company Name | Status |
|---|---|
| Indusage Techapp Private Limited | Current |
| Indusbuy Techserve Private Limited | Previous |
| Indusbuy Cash N Carry Private Limited | Previous |
CIN history
Indusage Techapp has one previous CIN (Corporate Identification Number): U51909KA2020PTC132436. The current CIN is U74110KA2020PTC132436, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U74110KA2020PTC132436 | Current |
| U51909KA2020PTC132436 | Previous |
Contact details
Indusage Techapp Private Limited's registered office is in Bangalore, Karnataka. Its website is udaancapital.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered Address1st Floor Of South Wing Twa – Sjr – The Hub Survey Number 8 2 & 9, Sarjapur Main Road Sarjapur – Marathahalli Road Bellandur, Bangalore, Karnataka, India – 560102
- IndustryInternet, Online Financial Services
To see the full contact details of Indusage Techapp 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
Brands
Indusage Techapp operates two associated brands: TimePay and udaanCapital. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Accounts receivable management software is offered to businesses. | timepay.co.in | |
| App-based accounting, credit collection, and invoicing solutions for small & medium businesses | udaancapital.com |
Business activity
The main business activity of Indusage Techapp is support service to organizations. In detail, this covers other support services to organizations.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| N | Support service to Organizations | N7 | Other support services to organizations |
To see the full business activity and turnover split of Indusage Techapp Private Limited, buy the company report.
Financials of Indusage Techapp Private Limited
FY 2025 filings availableIndusage Techapp Private Limited reported revenue of ₹90.33 Cr (down 10% YoY) for FY 2023.
Compounded Annual Growth Rate (CAGR)
Revenue fell 10% in the latest year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|
| Profit and Loss Statement | ||||
| Revenue from Operations | ||||
| Other Income | ||||
| Total Revenue | ₹90.33 Cr | |||
| Cost of Materials Consumed | ||||
| Employee Benefit Expense | ||||
| Finance Costs | ||||
| Depreciation and Amortisation | ||||
| Other Expenses | ||||
| Total Expenses | ||||
| EBITDA | -₹45.98 Cr | |||
| Profit Before Tax | ||||
| Tax Expense | ||||
| Net Profit (PAT) | -₹45.75 Cr | |||
| Balance Sheet | ||||
| Share Capital | ||||
| Reserves and Surplus | ||||
| Net Worth (Total Equity) | ||||
| Long-term Borrowings | ||||
| Short-term Borrowings | ||||
| Trade Payables | ||||
| Total Liabilities | ||||
| Fixed Assets | ||||
| Investments | ||||
| Inventories | ||||
| Trade Receivables | ||||
| Cash and Bank Balance | ||||
| Total Assets | ||||
Financial Ratios
| Metrics | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|
| Profitability | ||||
| EBITDA Margin | -50.9% | |||
| Net Profit Margin | -50.6% | |||
| Return on Equity (ROE) | ||||
| Return on Capital Employed (ROCE) | ||||
| Return on Assets (ROA) | ||||
| Liquidity and Debt | ||||
| Current Ratio | ||||
| Quick Ratio | ||||
| Debt-to-Equity Ratio | ||||
| Interest Coverage Ratio | ||||
| Efficiency and Growth | ||||
| Asset Turnover | ||||
| Receivable Days | ||||
| Payable Days | ||||
| Inventory Days | ||||
| Revenue Growth | ||||
| Net Profit Growth | ||||
To see the full financial statements and ratios of Indusage Techapp Private Limited, buy the company report.
Board of directors of Indusage Techapp Private Limited
Indusage Techapp has 2 current directors and 9 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Shivendra Vikram Srinet | Director | 15 May 2024 | 2 Years 5 Months | Current |
| Shilpa Sreenivasa Reddy | Director | 24 Apr 2024 | 2 Years 6 Months | Current |
Auditor
Indusage Techapp Private Limited is audited by S R BATLIBIO & ASSOCIATES LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S R BATLIBIO & ASSOCIATES LLP | FY 2023 | 101049W |
Shareholding
The shareholding of Indusage Techapp Private Limited is on record for 3 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 |
|---|---|---|---|
| Promoters | |||
| Domestic institutional investors (DII) | |||
| Foreign institutional investors (FII) | |||
| Public | |||
| Others |
To see the full shareholding pattern of Indusage Techapp Private Limited, buy the company report.
Deals & funding
Indusage Techapp Private Limited has 4 deals on record (3 rights issues, 1 secondary share transfer); the latest was in March 2024.
Deals on record (4 of 4)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2024 | Rights issue | ₹7 Cr | Investors: Trustroot Internet Pte Limited |
| Dec 2022 | Secondary share transfer | Undisclosed | Buyer: Trustroot Internet Pte Limited Seller: Megascale Private Limited |
| May 2022 | Rights issue | ₹35.55 Cr | Investors: Megascale Private Limited, Trustroot Internet Pte Limited |
| Nov 2020 | Rights issue | ₹135.79 Cr | Investors: Megascale Private Limited |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Indusage Techapp Private Limited has 9 court cases on record: 8 filed by Indusage Techapp, 1 filed against it. 2 cases are pending and 7 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 8 | 1 | 2 |
| NCLT | 1 | 0 | 0 |
Cases on record (5 of 9)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, BENGALURU, Karnataka | Court case (I.C.) | Filed against the company by an individual | Pending |
| District court, BENGALURU, Karnataka | Criminal complaint | Filed by the company against M/S. Shiva Gupta | Pending |
| NCLT, Bengaluru | Court case (COMP.APPL) | Filed by the company | Disposed |
| District court, BENGALURU, Karnataka | Criminal complaint | Filed by the company against Salva Therapeutics Pvt Ltd and Others | Disposed |
| District court, BENGALURU, Karnataka | Criminal complaint | Filed by the company against Salva Therapeutics Pvt Ltd and Others | Disposed |
To see the full case history of Indusage Techapp 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
Indusage Techapp Private Limited has 7 MSME Form 1 returns on record between 2021 and 2024, listing 14 overdue payments to 9 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 (5 of 9)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| Watsoo Express Private Limited | |||
| an individual supplier | |||
| Corpinfiny Services LLP | |||
| Celsia Hotels Private Limited |
To see the full MSME payment records of Indusage Techapp Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Indusage Techapp Private Limited has a workforce of 47 employees on its EPFO records as of Apr 03, 2024, across 1 active EPFO establishment.
GST
Indusage Techapp has 4 GST registrations: 3 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAFCI5762H1Z8 | Karnataka | Active | 24 Mar 2020 |
| 29AAFCI5762H1CJ | Karnataka | Active | 18 Feb 2023 |
| 32AAFCI5762H1CW | Kerala | Active | 11 Apr 2023 |
To see the full GST registrations and return filing status of Indusage Techapp Private Limited, buy the company report.
Recent activity
Indusage Techapp Private Limited has 18 board changes on record since 2020: 10 appointments and 8 cessations. The latest: Mayank Kumar Agarwal ceased to be Whole-Time Director on 19 Jun 2024.
9 earlier events are in the company report.
News
Frequently asked questions
Indusage Techapp is an active private limited company based in Bangalore, Karnataka, India. The company works in online financial services, within the internet industry. It was incorporated on 07 February 2020 (6+ years old) and is registered under CIN U74110KA2020PTC132436.
Indusage Techapp has 2 current directors:
- Shivendra Vikram Srinet - Director
- Shilpa Sreenivasa Reddy - Director
The latest financial statements of Indusage Techapp on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from FY 2020 are in the company report.
The GSTIN of Indusage Techapp is 29AAFCI5762H1Z8, registered in Karnataka. The company has 4 GST registrations in all, of which 3 are active and 1 is cancelled or inactive. Other active GSTINs include 29AAFCI5762H1CJ (Karnataka), 32AAFCI5762H1CW (Kerala).
The CIN (Corporate Identification Number) of Indusage Techapp is U74110KA2020PTC132436. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Indusage Techapp has 9 court cases on record: 8 filed by the company and 1 filed against it. 2 are pending. Most are in the district courts.
Indusage Techapp was incorporated on 07 February 2020, making it 6+ years old. It is registered with the Registrar of Companies, Bangalore.
Indusage Techapp has 4 deals on record (3 rights issues, 1 secondary share transfer); the latest was in March 2024.
Mayank Kumar Agarwal ceased to be Whole-Time Director on 19 Jun 2024. Shivendra Vikram Srinet was appointed as Director on 15 May 2024. Akash Gupta ceased to be Whole-Time Director on 24 Apr 2024. Indusage Techapp has 18 board changes on record in total.
Indusage Techapp has 7 MSME Form 1 returns on record between 2021 and 2024, listing 14 overdue payments to 9 micro and small suppliers. The latest return was filed on 24 Apr 2024.
Indusage Techapp can be reached through the website udaancapital.com. Its registered office is in Bangalore, Karnataka, India.