About Sterne India Private Limited
Data last updated:
Sterne India Private Limited is a private limited company based in Bangalore, Karnataka, India. The company is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. Management control has been transferred to an insolvency professional. It operates in the general e-commerce platforms segment of the e-commerce sector. It was incorporated on 24 October 2016.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U74999KA2016PTC097331. Its GSTIN is 29AAXCS7393C2ZI (Karnataka). The company holds 29 GST registrations, of which 5 are active.
The company has an authorised share capital of ₹21 Lakh and a paid-up capital of ₹13.15 Lakh. It is led by directors Khushnud Khan and Rishiraj Singh Rathore.
Its last annual general meeting (AGM) was held on 31 October 2022, and its latest financial statements are for the year ended 31 March 2022. The registered office is at 05th Floor Salarpuria Sattva Eminence, Amani Bellendur Khane Varthur Hobli Bangalore East Taluk, Karnataka, India – 560103.
As per the financials filed for FY 2022, the company reported a revenue of ₹1,118.23 Cr, reflecting significant growth compared to the previous year. For the same year it recorded a net loss of ₹62.98 Cr (net margin -5.6%) and EBITDA of -₹57.81 Cr (EBITDA margin -5.2%). Revenue has grown at a compounded annual rate (CAGR) of 285% over three years.
The company has about 22 employees on its provident fund (EPFO) records. Its group structure includes 4 subsidiaries.
The company is associated with 1 brand: Arzooo. As per MCA filings, the company has open charges of ₹115 Cr and satisfied charges of ₹111.01 Cr on record. Court records list 41 cases involving the company, including 8 filed by the company and 33 filed against it; 17 cases are pending. The company has 29 deals on record (14 funding rounds, 9 debt financings, 3 convertible or debt financings), with disclosed funding of ₹639.07 Cr; the latest was in November 2024.
The last known website on record is arzooo.com.
Company details
Contact details
Sterne India Private Limited's registered office is in Bangalore, Karnataka. Its website is arzooo.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Apps
- Registered Address05th Floor Salarpuria Sattva Eminence, Amani Bellendur Khane Varthur Hobli Bangalore East Taluk, Karnataka, India – 560103
- IndustryE-Commerce, General E-Commerce Platforms
To see the full contact details of Sterne India 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
Sterne India operates one associated brand: Arzooo. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Technology platform for retail management and electronics trading is provided. | arzooo.com |
Business activity
The main business activity of Sterne India is information and communication. In detail, this covers computer programming, consultancy and related activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| J | Information and communication | J6 | Computer programming, consultancy and related activities |
To see the full business activity and turnover split of Sterne India Private Limited, buy the company report.
Financials of Sterne India Private Limited
FY 2022 filings availableSterne India Private Limited reported revenue of ₹1,118.23 Cr (up 332% YoY) for FY 2022.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 285% over three years, including 332% growth in the latest year. EBITDA fell 237% 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 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | ₹1,118.23 Cr | ||||
| Other Income | |||||
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| EBITDA | -₹57.81 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹62.98 Cr | ||||
| Balance Sheet | |||||
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Financial Ratios
| Metrics | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -5.2% | ||||
| Net Profit Margin | -5.6% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
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To see the full financial statements and ratios of Sterne India Private Limited, buy the company report.
Board of directors of Sterne India Private Limited
Sterne India has 2 current directors and 10 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Khushnud Khan Also directs: Mirai Consumer Private Limited, Fig AI Technologies Private Limited, Fastmile Express Private Limited and 3 more | Director | 15 Mar 2019 | 7 Years 7 Months | As last reported |
| Rishiraj Singh Rathore Also directs: Fastmile Express Private Limited, Sharkfin Tech Private Limited, Gamma Internet Private Limited and 2 more | Director | 24 Oct 2016 | 10 Years 0 Months | As last reported |
Auditor
Sterne India Private Limited is audited by M S K A & Associates for the financial year 2022.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| M S K A & Associates | FY 2022 | 105047W |
Shareholding
The shareholding of Sterne India Private Limited is on record for 5 financial years, the latest being FY 2022, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Sterne India Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 25 Oct 2023 | 100819790 | Others | ₹8 Cr | Open | |
| 28 Sep 2023 | 100798715 | Others | ₹7 Cr | Open | |
| 20 Jul 2023 | 100782610 | Others | ₹20 Cr | Open | |
| 04 Jul 2023 | 100769365 | Others | ₹20 Cr | Open | |
| 17 Aug 2022 | 100618075 | Others | ₹15 Cr | Open |
To see the full charge records of Sterne India Private Limited, buy the company report.
Total charge records: 15 View all charges
Deals & funding
Sterne India Private Limited has 29 deals on record (14 funding rounds, 9 debt financings, 3 convertible or debt financings), with disclosed funding of ₹639.07 Cr; the latest was in November 2024.
Deals on record (5 of 29)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Nov 2024 | Acquisition | Undisclosed | Buyer: Moksha Group |
| Oct 2023 | Debt financing | ₹8 Cr | Investors: Alteria Capital |
| Sep 2023 | Debt financing | ₹7 Cr | Investors: Karnation Fund I |
| Aug 2023 | Debt financing | ₹15 Cr | Investors: Alteria Capital |
| Sep 2020 | Funding round · Series A | ₹48.69 Cr | Investors: Celesta Capital (WRVI Capital), 3Lines Venture Capital, ENAM Holdings |
To see the full deal history of Sterne India 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
Sterne India Private Limited has 41 court cases on record: 8 filed by Sterne India, 33 filed against it. 17 cases are pending and 24 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 35 | 31 | 15 |
| High courts | 5 | 1 | 1 |
| NCLT | 1 | 1 | 1 |
Cases on record (5 of 41)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, BENGALURU, Karnataka | Court case (Com.A.A.) | Filed against the company by M/S Orix Leasing and Financial Services India Limited | Pending |
| District court, South East, Delhi | Criminal case | Filed against the company by Vishal Video and Appliances Pvt. Ltd. | Pending |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Summary Cases) | Filed against the company by Capsave Finance Pvt Ltd | Pending |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Summary Case) | Filed against the company by Trillionloans Fintech Private Limited Its Authorized Representative Amit Chaturvedi | Pending |
| District court, Calcutta, West Bengal | Civil suit | Filed against the company by Incred Financial Services Ltd | Pending |
To see the full case history of Sterne India 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
No delayed payments to MSME suppliers are on our record for Sterne India Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Sterne India has 4 subsidiary companies. This group structure data is as of FY 2022. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Fastmile Express Private Limited | U63030KA2021PTC150225 | |
| Sharkfin Tech Private Limited | U72900KA2021PTC149237 | |
| Gamma Internet Private Limited | U74999KA2021PTC154307 | |
| Falcon Internet Private Limited | U74999KA2021PTC154325 |
To see the full group structure of Sterne India Private Limited, buy the company report.
Employees & EPFO
Sterne India Private Limited has a workforce of 22 employees on its EPFO records as of Mar 2024, across 1 active EPFO establishment.
Headcount by financial year
| Financial year | Employees (EPFO) |
|---|---|
| FY 2023-24 | 22 |
| FY 2022-23 | |
| FY 2021-22 | |
| FY 2020-21 | |
| FY 2019-20 | |
| FY 2018-19 |
To see the full employee and EPFO history of Sterne India Private Limited, buy the company report.
GST
Sterne India has 29 GST registrations: 5 active and 24 cancelled or inactive. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAXCS7393C2ZI | Karnataka | Active | 29 Jun 2017 |
| 29AAXCS7393C3ZH | Karnataka | Active | 01 Apr 2023 |
| 19AAXCS7393C1ZK | West Bengal | Active | 22 Nov 2019 |
| 10AAXCS7393C1Z2 | Bihar | Active | 26 Aug 2021 |
To see the full GST registrations and return filing status of Sterne India Private Limited, buy the company report.
Recent activity
Sterne India Private Limited has 12 board changes on record since 2016: 3 appointments and 9 cessations. The latest: Ravindra Beleyur was appointed as Irp/Rp/Liquidator on 15 May 2025.
29 earlier events are in the company report.
News
Frequently asked questions
Sterne India is undergoing "Corporate Insolvency Resolution Process" (CIRP) under the Insolvency and Bankruptcy Code, 2016. Management control has been transferred to an insolvency resolution professional. The company may not be able to independently enter into new commitments during this period. This is a high-risk status - verify the resolution status before any engagement.
Sterne India is a company under insolvency, formerly operating as a private limited company based in Bangalore, Karnataka, India. The company works in general e-commerce platforms, within the e-commerce industry. It was incorporated on 24 October 2016 and is registered under CIN U74999KA2016PTC097331. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Sterne India has 2 current directors:
- Khushnud Khan - Director
- Rishiraj Singh Rathore - Director
The latest financial statements of Sterne India on record with the MCA are for the year ended 31 March 2022. Its last annual general meeting was held on 31 October 2022. Year-wise statements from FY 2017 are in the company report.
The CIN (Corporate Identification Number) of Sterne India is U74999KA2016PTC097331. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Sterne India has open charges of ₹115 Cr and satisfied charges of ₹111.01 Cr as per latest MCA filings.
Sterne India has 41 court cases on record: 8 filed by the company and 33 filed against it. 17 are pending. Most are in the district courts.
Sterne India was incorporated on 24 October 2016. It is registered with the Registrar of Companies, Bangalore.
Sterne India has 29 deals on record (14 funding rounds, 9 debt financings, 3 convertible or debt financings), with disclosed funding of ₹639.07 Cr; the latest was in November 2024.
Ravindra Beleyur was appointed as Irp/Rp/Liquidator on 15 May 2025. Palepu Sudhir Rao ceased to be Nominee Director on 02 May 2024. Pallab Kumar Chatterjee ceased to be Nominee Director on 02 May 2024. Sterne India has 12 board changes on record in total.
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