About Payswiff Solutions Private Limited
Data last updated:
Payswiff Solutions Private Limited was a private limited company based in Hyderabad, Telangana, India, operated as a subsidiary of Payswiff Technologies Private Limited. The company has been amalgamated - it was merged with another entity and no longer exists as a separate legal entity. It operated in the digital payment solutions segment of the financial services sector. It was incorporated on 03 December 2012.
The company was registered with the Registrar of Companies (ROC), Hyderabad, under CIN U74120TG2012PTC084551. Its GSTIN is 36AAHCP3442M2Z3 (Telangana). The company held 5 GST registrations, of which 3 are active.
The company had an authorised share capital of ₹5 Cr and a paid-up capital of ₹3.55 Cr. It was formerly known as Paynear Solutions Limited and Paynear Solutions Private Limited. It was led by directors including Arulselvan Dharmalingam and Ravindra Kumar Kundu.
Its last annual general meeting (AGM) was held on 20 September 2022, and its latest financial statements are for the year ended 31 March 2022. The registered office was at Hyderabad, Telangana.
As per the financials filed for FY 2022, the company reported a revenue of ₹284.33 Cr, a growth of 38% compared to the previous year. For the same year it recorded a net loss of ₹13.63 Cr (net margin -4.8%) and EBITDA of -₹86.44 Lakh (EBITDA margin -0.3%). Revenue has grown at a compounded annual rate (CAGR) of 54% over three years and 61% over five years.
The company had about 385 employees on its provident fund (EPFO) records before it was dissolved.
The company was associated with 2 brands: The BankNXT and Payswiff. As per MCA filings, the company had satisfied charges of ₹24.23 Cr on record. Court records list 6 cases involving the company, including 2 filed against it; 2 cases are pending. The company has 4 deals on record (2 secondary share transfers, 1 funding round, 1 acquisition), with disclosed funding of ₹14 Cr; the latest was in September 2016. Its 10 peer companies in the BFSI industry (Payment Solution Providers) are compared by revenue, 5 larger and 5 smaller; the largest is In-Solutions Global Limited with revenue of ₹330.92 Cr. The company has 3 MSME Form 1 returns on record for the period ending Sep 2022, listing 57 overdue payments to 25 micro and small suppliers.
The last known website on record is payswiff.com.
- EmailLocked
- TelephoneLocked
- Website
- Social Media
- Apps
- Registered Address2 – 48/5/6 Vaishnavi'S Cynosure 10th Floor Opp. Rttc Telecom Nagar Extn Gachibowl, I, Hyderabad, Telangana, India – 500032
- IndustryFinancial Services, Digital Payment Solutions
- 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
- One PDF report, delivered after checkout
Business Activity of Payswiff Solutions Private Limited
The main business activity of Payswiff Solutions is information and communication. In detail, this covers other information & communication service activities.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| J | Information and communication | J8 | Other information & communication service activities | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Financials of Payswiff Solutions Private Limited FY 2022 filings available
Payswiff Solutions Private Limited reported revenue of ₹284.33 Cr (up 38% YoY) for FY 2022.
Compounded Annual Growth Rate (CAGR) of Payswiff Solutions Private Limited
Revenue has grown at a compounded annual rate (CAGR) of 61% over five years, including 38% growth in the latest year. EBITDA fell 107% 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 of Payswiff Solutions Private Limited
| Metrics | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | •••• | •••• | •••• | •••• | •••• |
| Other Income | •••• | •••• | •••• | •••• | •••• |
| Total Revenue | ₹284.33 Cr | •••• | •••• | •••• | •••• |
| Cost of Materials Consumed | •••• | •••• | •••• | •••• | •••• |
| Employee Benefit Expense | •••• | •••• | •••• | •••• | •••• |
| Finance Costs | •••• | •••• | •••• | •••• | •••• |
| Depreciation and Amortisation | •••• | •••• | •••• | •••• | •••• |
| Other Expenses | •••• | •••• | •••• | •••• | •••• |
| Total Expenses | •••• | •••• | •••• | •••• | •••• |
| EBITDA | -₹86.44 Lakh | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | -₹13.63 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 of Payswiff Solutions Private Limited
| Metrics | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -0.3% | •••• | •••• | •••• | •••• |
| Net Profit Margin | -4.8% | •••• | •••• | •••• | •••• |
| 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 | •••• | •••• | •••• | •••• | •••• |
Paid data: the figures shown as dots are available after purchase of the company report. Figures as filed with the MCA in Form AOC-4. The full year-wise statements and ratios of Payswiff Solutions are in the company report.
Financial statements from 2015
Earlier years and trend charts are in the company report.
- Income statements
- Balance sheets
- Cash-flow statements
- Ratios and benchmarks
Verified entity values are shown only after access is granted.
Peer Comparison of Payswiff Solutions Private Limited
Payswiff Solutions Private Limited is compared with the companies closest to it by revenue in the BFSI industry (Payment Solution Providers). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| In-Solutions Global Limited | ₹330.92 Cr (FY 2025) | •••• | •••• | 27.0% | •••• | Mumbai, Maharashtra, India |
| Champion Software Technologies Limited | ₹321.81 Cr (FY 2025) | •••• | •••• | 40.0% | •••• | Rajkot, Gujarat, India |
| Freecharge Payment Technologies Private Limited | ₹312.21 Cr (FY 2025) | •••• | •••• | -33.0% | •••• | Gurgaon, Haryana, India |
| Nearby Technologies Private Limited | ₹310.12 Cr (FY 2025) | •••• | •••• | -17.0% | •••• | Mumbai, Maharashtra, India |
| Loveinstore Services Private Limited | ₹284.52 Cr (FY 2024) | •••• | •••• | 62.0% | •••• | Gurgaon, Haryana, India |
| Payswiff Solutions Private Limited this company | ₹284.33 Cr (FY 2022) | •••• | •••• | 38.0% | •••• | Hyderabad, Telangana, India |
| Desiderata Impact Ventures Private Limited | ₹278.34 Cr (FY 2025) | •••• | •••• | 75.0% | •••• | New Delhi, Delhi, India |
| Knockus Services Private Limited | ₹272.39 Cr (FY 2025) | •••• | •••• | 158.0% | •••• | Delhi, India |
| Ola Financial Services Private Limited | ₹265.39 Cr (FY 2024) | •••• | •••• | 176.0% | •••• | Bangalore, Karnataka, India |
| Mobirec Private Limited | ₹256.48 Cr (FY 2025) | •••• | •••• | •••• | Orang, Assam, India | |
| Fiserv Merchant Solutions Private Limited | ₹250.99 Cr (FY 2025) | •••• | •••• | -49.0% | •••• | Mumbai, Maharashtra, India |
Peers are the five companies nearest above and the five nearest below Payswiff Solutions by revenue in the BFSI industry (Payment Solution Providers), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.
Auditor Details of Payswiff Solutions Private Limited
Payswiff Solutions Private Limited is audited by Walker Chandiok & Co LLP for the financial year 2022.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| Walker Chandiok & Co LLP | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Board of Directors of Payswiff Solutions Private Limited
Payswiff Solutions has 5 current directors and 14 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Arulselvan Dharmalingam | Director | 11 Mar 2022 | 4 Years 7 Months | As last reported |
| Ravindra Kumar Kundu Also directs: Cholamandalam Securities Limited, Payswiff Technologies Private Limited, Cholamandalam Leasing Limited and 2 more | Director | 11 Mar 2022 | 4 Years 7 Months | As last reported |
| Prabhuram Radhakrishnan Also directs: Payswiff Technologies Private Limited, Hue Pack LLP, Aadhan Media Private Limited and 5 more | Director | 13 Aug 2015 | 11 Years 2 Months | As last reported |
| Priti Maulik Shah Also directs: Aadhan Media Private Limited, RP Cloud Kitchens Private Limited | Director | 10 Mar 2014 | 12 Years 7 Months | As last reported |
| Arun Venkatachalam Also directs: Payswiff Technologies Private Limited, Bishop Enterprises LLP, Shanthi Gears Limited and 4 more | Director | 11 Mar 2022 | 4 Years 7 Months | As last reported |
Ownership and Shareholding of Payswiff Solutions Private Limited
Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
- Ownership categories
- Historical changes
- Group structure
- FII and DII holdings
Verified entity values are shown only after access is granted.
Charges & Borrowings of Payswiff Solutions Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 18 Nov 2021 | Others | ₹5 Cr | Satisfied |
| 17 Aug 2021 | Axis Bank Limited | ₹5 Cr | Satisfied |
| 10 Jun 2021 | Others | ₹3 Cr | Satisfied |
| 17 Sep 2020 | Others | ₹75 Lakh | Satisfied |
| 28 Aug 2020 | Others | ₹1.25 Cr | Satisfied |
Total charge records: 6 View all charges
Deals & Funding of Payswiff Solutions Private Limited
Payswiff Solutions Private Limited has 4 deals on record (2 secondary share transfers, 1 funding round, 1 acquisition), with disclosed funding of ₹14 Cr; the latest was in September 2016.
Deals on record (4 of 4)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Sep 2016 | Acquisition | ₹28.32 Cr | Buyer: Payswiff Technologies Private Limited Seller: Payswiff Technologies Private Limited |
| Sep 2014 | Secondary share transfer | Undisclosed | Buyer: Payswiff Technologies Private Limited Seller: 3 individuals |
| May 2014 | Funding round | ₹14 Cr | Investors: Payswiff Technologies Private Limited , 3 individuals |
| Sep 2013 | Secondary share transfer | Undisclosed | Buyer: Payswiff Technologies Private Limited , 3 individuals Seller: 4 individuals |
Full deal history
All 4 deals with amounts, valuations, instruments and every party are in the company report.
- Every funding round and share transfer
- Amounts and valuations
- Investors, buyers and sellers
- Instruments and deal dates
Verified entity values are shown only after access is granted.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal Cases of Payswiff Solutions Private Limited
Payswiff Solutions Private Limited has 6 court cases on record: 2 filed against it, 4 where it is another party. 2 cases are pending and 4 are disposed. Status as checked between 21 Sep 2026 and 04 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 3 | 0 | 0 |
| District courts | 3 | 2 | 2 |
Cases on record (5 of 6)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Maharashtra Industrial and Lab, Maharashtra | Court case (Comp ULP) | Filed against the company by an individual | Pending |
| District court, North West, Delhi | Civil suit | Company is another party | Pending |
| District court, Maharashtra Industrial and Lab, Maharashtra | Court case (Condn of Delay-ULP) | Filed against the company by an individual | Disposed |
| Madras High Court | Appeal | Company is another party | Disposed |
| Madras High Court | Original application | Company is another party | Disposed |
Full case history
All 6 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
- Every case with its case number
- Year-wise trend
- Opposite parties
- Decision dates and orders
Verified entity values are shown only after access is granted.
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 by Payswiff Solutions Private Limited
Payswiff Solutions Private Limited has 3 MSME Form 1 returns on record for the period ending Sep 2022, listing 57 overdue payments to 25 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 25)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
| Skyla Hospitality Private Limited | •••• | •••• | •••• |
| Karza Technologies Private Limited | •••• | •••• | •••• |
Full MSME payment history
Every supplier, amount and due date from all 3 MSME Form 1 returns is in the company report.
- Every reported supplier due
- Amounts and due dates
- Reasons given in each return
- Period-by-period history
Verified entity values are shown only after access is granted.
Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.
Associated Brands with Payswiff Solutions Private Limited
Payswiff Solutions operates two associated brands: The BankNXT and Payswiff. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| A digital bank serving startups and SMEs, with no funding raised to date. | thebanknxt.com | |
| Provider of POS and MPOS solutions for businesses to accept card payments | payswiff.com |
Employees and EPFO Compliance at Payswiff Solutions Private Limited
Payswiff Solutions Private Limited has a workforce of 385 employees as of Apr 08, 2024.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
Name History of Payswiff Solutions Private Limited
Payswiff Solutions has undergone 2 name changes throughout its history. The company was previously known as Paynear Solutions Limited, and Paynear Solutions Private Limited. The current legal name is Payswiff Solutions Private Limited.
| Company Name | Status |
|---|---|
| Payswiff Solutions Private Limited | Current |
| Paynear Solutions Limited | Previous |
| Paynear Solutions Private Limited | Previous |
CIN History of Payswiff Solutions Private Limited
Payswiff Solutions has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is U74120TG2012PTC084551, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U74120TG2012PTC084551 | Current |
| U74120AP2012PTC084551 | Previous |
| U74120AP2012PLC084551 | Previous |
Recent Activity on Payswiff Solutions Private Limited
Payswiff Solutions Private Limited has 19 board changes on record since 2013: 5 appointments and 14 cessations. The latest: Arulselvan Dharmalingam ceased to be Additional Director on 15 Mar 2022.
25 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Payswiff Solutions Private Limited
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Payswiff Solutions Private Limited
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of Payswiff Solutions Private Limited
Payswiff Solutions has 5 GST registrations: 3 active and 2 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 36AAHCP3442M2Z3 | Telangana | Active | 01 Jul 2017 |
| 27AAHCP3442M1Z3 | Maharashtra | Active | 03 May 2023 |
| 37AAHCP3442M2Z1 | Andhra Pradesh | Active | 04 May 2023 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
MCA Filings & Documents of Payswiff Solutions Private Limited
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Related news about Payswiff Solutions Private Limited
Frequently Asked Questions about Payswiff Solutions Private Limited
Payswiff Solutions has been "Amalgamated" (merged) as per MCA records. The company was combined with another entity and no longer exists as a separate legal entity. Business activities, if any, continue under the successor entity.
Payswiff Solutions was a private limited company based in Hyderabad, Telangana, India. The company worked in digital payment solutions, within the financial services industry. It was incorporated on 03 December 2012 and is registered under CIN U74120TG2012PTC084551. The company is recorded as amalgamated in MCA records and no longer exists as a legal entity.
Payswiff Solutions was incorporated on 03 December 2012. It is registered with the Registrar of Companies, Hyderabad.
Payswiff Solutions had 5 directors:
- Arulselvan Dharmalingam - Director
- Ravindra Kumar Kundu - Director
- Prabhuram Radhakrishnan - Director
- Priti Maulik Shah - Director
- Arun Venkatachalam - Director
The CIN (Corporate Identification Number) of Payswiff Solutions is U74120TG2012PTC084551. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
The registered office of Payswiff Solutions is at 2 – 4856 VaishnaviS Cynosure 10th Floor Opp. Rttc Telecom Nagar Extn Gachibowl, I, Hyderabad, Telangana, India – 500032.
Yes, Payswiff Solutions is recognised as a startup by the Department for Promotion of Industry and Internal Trade (DPIIT).
Payswiff Solutions can be reached through the website payswiff.com. Its registered office is in Hyderabad, Telangana, India.
Payswiff Solutions reported revenue of ₹284.33 Cr for FY 2022 (up 38% YoY).
Payswiff Solutions has an authorised share capital of ₹5 Cr and a paid-up capital of ₹3.55 Cr.
Payswiff Solutions reported a net loss of ₹13.63 Cr (net margin -4.8%) and EBITDA of -₹86.44 Lakh (EBITDA margin -0.3%) for FY 2022, as per its filed financial statements.
The GSTIN of Payswiff Solutions is 36AAHCP3442M2Z3, registered in Telangana. The company has 5 GST registrations in all, of which 3 are active and 2 are cancelled or inactive. Other active GSTINs include 27AAHCP3442M1Z3 (Maharashtra), 37AAHCP3442M2Z1 (Andhra Pradesh).