About True Credits Private Limited
Data last updated:
True Credits Private Limited is a private limited company based in Gurgaon, Haryana, India, a subsidiary of Balancehero India Private Limited. It operates in the non-banking financial services (NBFC) segment of the financial services sector. It was incorporated on 05 September 2017 and has been in existence for over 9 years.
The company is registered with the Registrar of Companies (ROC), Delhi, under CIN U65190HR2017PTC070653. Its GSTIN is 06AAGCT4180P1ZT (Haryana).
The company has an authorised share capital of ₹21.6 Cr and a paid-up capital of ₹20.38 Cr. It is led by directors including Vishal Bhatia (Managing Director) and Cheolwon Lee (Managing Director).
Its last annual general meeting (AGM) was held on 27 August 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at HUDA City Centre Metro Station 5th Floor Sector – 29, Gurgaon, Haryana, India – 122001.
As per the financials filed for FY 2024, the company reported a revenue of ₹669.88 Cr, a growth of 81% compared to the previous year. For the same year it recorded a net profit of ₹36.53 Cr (net margin 5.5%) and EBITDA of ₹117.5 Cr (EBITDA margin 17.5%). Revenue has grown at a compounded annual rate (CAGR) of 127% over three years and 474% over five years.
The company has about 91 employees on its provident fund (EPFO) records.
The company is associated with 2 brands: True Credits and True Balance. As per MCA filings, the company has open charges of ₹2,339.5 Cr and satisfied charges of ₹2,442.2 Cr on record. Court records list 124 cases involving the company, including 3 filed by the company and 22 filed against it; 81 cases are pending. The company has 23 deals on record (14 debt financings, 7 rights issues, 2 acquisitions), with disclosed funding of ₹339.6 Cr; the latest was in October 2024. Its 10 peer companies in the BFSI industry (NBFC Investment and Credit Companies, Small Non Deposit NBFC) are compared by revenue, 5 larger and 5 smaller; the largest is Kinara Capital Private Limited with revenue of ₹692.13 Cr. The company has 3 MSME Form 1 returns on record between 2023 and 2024, listing 5 overdue payments to 3 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 truecredits.in.
- EmailLocked
- TelephoneLocked
- Website
- Social MediaLocked
- Registered AddressHUDA City Centre Metro Station 5th Floor Sector – 29, Gurgaon, Haryana, India – 122001
- IndustryFinancial Services, NBFC, Investment & Credit NBFC
- 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
Associated Brands with True Credits Private Limited
True Credits operates two associated brands: True Credits and True Balance. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Provider of an app-based platform for personal loans and investment products | truecredits.in | |
| Personal loans and prepaid instruments are provided via mobile wallet. | truebalance.io |
Business Activity of True Credits Private Limited
The main business activity of True Credits is financial and insurance service. In detail, this covers other financial activities.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| K | Financial and insurance Service | K8 | Other financial 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 True Credits Private Limited FY 2025 filings available
True Credits Private Limited reported revenue of ₹669.88 Cr (up 81% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR) of True Credits Private Limited
Revenue has grown at a compounded annual rate (CAGR) of 474% over five years, including 81% growth in the latest year. EBITDA rose 119% 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 True Credits Private Limited
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | •••• | •••• | •••• | •••• | •••• |
| Other Income | •••• | •••• | •••• | •••• | •••• |
| Total Revenue | ₹669.88 Cr | •••• | •••• | •••• | •••• |
| Cost of Materials Consumed | •••• | •••• | •••• | •••• | •••• |
| Employee Benefit Expense | •••• | •••• | •••• | •••• | •••• |
| Finance Costs | •••• | •••• | •••• | •••• | •••• |
| Depreciation and Amortisation | •••• | •••• | •••• | •••• | •••• |
| Other Expenses | •••• | •••• | •••• | •••• | •••• |
| Total Expenses | •••• | •••• | •••• | •••• | •••• |
| EBITDA | ₹117.5 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹36.53 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 True Credits Private Limited
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 17.5% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 5.5% | •••• | •••• | •••• | •••• |
| 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 True Credits are in the company report.
Financial statements from FY 2018
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.
Board of Directors of True Credits Private Limited
True Credits has 6 current directors and 10 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Vishal Bhatia | Managing Director | 14 Nov 2020 | 5 Years 11 Months | Current |
| Shunmugam Sundararaj | Director | 28 May 2021 | 5 Years 4 Months | Current |
| Cheolwon Lee | Managing Director | 05 Sep 2017 | 9 Years 1 Months | Current |
| Padmaja Makarand Parange Also directs: SNP Core Advisors LLP, Sustain Edge Esg LLP | Director | 01 Sep 2024 | 2 Years 1 Months | Current |
| Anand Jethalia | Director | 01 Aug 2024 | 2 Years 2 Months | Current |
| Anupam Vasdani Also directs: Balancehero India Private Limited | Additional Director | 12 Dec 2025 | 0 Years 10 Months | Current |
Peer Comparison of True Credits Private Limited
True Credits Private Limited is compared with the companies closest to it by revenue in the BFSI industry (NBFC Investment and Credit Companies, Small Non Deposit NBFC). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Kinara Capital Private Limited | ₹692.13 Cr (FY 2025) | •••• | •••• | -4.0% | •••• | Bangalore, Karnataka, India |
| Ambit Finvest Private Limited | ₹687.13 Cr (FY 2025) | •••• | •••• | 23.0% | •••• | Mumbai, Maharashtra, India |
| Sherya Portfolio Private Limited | ₹678.85 Cr (FY 2025) | •••• | •••• | 65.0% | •••• | Delhi, India |
| JM Financial Products Limited | ₹678.39 Cr (FY 2022) | •••• | •••• | 3.0% | •••• | Mumbai, Maharashtra, India |
| Stci Primary Dealer Limited | ₹670.73 Cr (FY 2019) | •••• | •••• | 51.0% | •••• | Mumbai, Maharashtra, India |
| True Credits Private Limited this company | ₹669.88 Cr (FY 2024) | •••• | •••• | 81.0% | •••• | Gurgaon, Haryana, India |
| Arman Financial Services Limited Listed | ₹661.53 Cr (FY 2024) | •••• | •••• | 56.0% | •••• | Ahmedabad, Gujarat, India |
| Paisalo Digital Limited Listed | ₹658.75 Cr (FY 2024) | •••• | •••• | 39.0% | •••• | New Delhi, Delhi, India |
| Tutex Trade & Investments Limited | ₹645.66 Cr (FY 2025) | •••• | •••• | 12.0% | •••• | Kolkata, West Bengal, India |
| Dovetail Financial Service Private Limited | ₹636.39 Cr (FY 2025) | •••• | •••• | 215671.0% | •••• | Mumbai, Maharashtra, India |
| Sudha Commercial Co Ltd | ₹623.66 Cr (FY 2025) | •••• | •••• | 69.0% | •••• | Kolkata, West Bengal, India |
Peers are the five companies nearest above and the five nearest below True Credits by revenue in the BFSI industry (NBFC Investment and Credit Companies, Small Non Deposit NBFC), 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 True Credits Private Limited
True Credits Private Limited is audited by Dewan P.N. Chopra & Co. for the financial year 2024.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| Dewan P.N. Chopra & Co. | 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.
Ownership and Shareholding of True Credits 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 True Credits Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 25 Nov 2025 | Others | ₹25 Cr | Open |
| 03 Nov 2025 | Others | ₹35 Cr | Open |
| 29 Oct 2025 | Others | ₹12 Cr | Open |
| 23 Oct 2025 | Others | ₹6 Cr | Open |
| 16 Oct 2025 | Others | ₹40 Cr | Open |
Total charge records: 199 View all charges
Deals & Funding of True Credits Private Limited
True Credits Private Limited has 23 deals on record (14 debt financings, 7 rights issues, 2 acquisitions), with disclosed funding of ₹339.6 Cr; the latest was in October 2024.
Deals on record (5 of 23)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Oct 2024 | Debt financing | ₹20 Cr | Investors: VentureSoul Partners |
| Jul 2024 | Debt financing | ₹10 Cr | Investors: RevX Capital |
| May 2024 | Debt financing | ₹97.5 Cr | Investors: SK Finance Limited , Credavenue Private Limited , InCred Alternatives Investments |
| Jan 2024 | Debt financing | ₹60 Cr | Investors: Credavenue Private Limited , Np1 Capital Trust, RevX Capital |
| Oct 2023 | Debt financing | ₹50 Cr | Investors: SK Finance Limited , Oxy Ventures Private Limited , RevX Capital |
Full deal history
All 23 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 True Credits Private Limited
True Credits Private Limited has 124 court cases on record: 3 filed by True Credits, 22 filed against it, 99 where it is another party. 81 cases are pending and 43 are disposed. Status as checked between 21 Sep 2026 and 04 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 106 | 22 | 80 |
| High courts | 18 | 0 | 1 |
Cases on record (5 of 124)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Rangareddy, Telangana | Civil suit | Filed against the company by an individual | Pending |
| District court, Rangareddy, Telangana | Civil suit | Filed against the company by an individual | Pending |
| District court, Erode, Tamil Nadu | Court case (IP) | Filed against the company by an individual | Pending |
| District court, Chennai, Tamil Nadu | Civil suit | Filed against the company by an individual | Pending |
| District court, Chennai, Tamil Nadu | Civil suit | Filed against the company by an individual | Pending |
Full case history
All 124 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 True Credits Private Limited
True Credits Private Limited has 3 MSME Form 1 returns on record between 2023 and 2024, listing 5 overdue payments to 3 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 (3 of 3)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Pinnacle Tele Services Private Limited | •••• | •••• | •••• |
| Affipedia Digital Private Limited | •••• | •••• | •••• |
| Shivtel Communications 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.
Employees and EPFO Compliance at True Credits Private Limited
True Credits Private Limited has a workforce of 91 employees as of Apr 09, 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.
Recent Activity on True Credits Private Limited
True Credits Private Limited has 16 board changes on record since 2017: 6 appointments and 10 cessations. The latest: Anupam Vasdani was appointed as Additional Director on 12 Dec 2025.
347 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for True Credits 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 True Credits 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 True Credits Private Limited
True Credits has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 06AAGCT4180P1ZT | Haryana | Active | 28 Dec 2017 |
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 True Credits 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 True Credits Private Limited
Frequently Asked Questions about True Credits Private Limited
True Credits is an active private limited company based in Gurgaon, Haryana, India. The company works in nbfc, within the financial services industry. It was incorporated on 05 September 2017 (9+ years old) and is registered under CIN U65190HR2017PTC070653.
True Credits reported revenue of ₹669.88 Cr for FY 2024 (up 81% YoY).
True Credits has 6 current directors:
- Vishal Bhatia - Managing Director
- Cheolwon Lee - Managing Director
- Shunmugam Sundararaj - Director
- Padmaja Makarand Parange - Director
- Anand Jethalia - Director
- Anupam Vasdani - Additional Director
True Credits reported a net profit of ₹36.53 Cr (net margin 5.5%) and EBITDA of ₹117.5 Cr (EBITDA margin 17.5%) for FY 2024, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of True Credits is 127% over three years and 474% over five years. In the latest year (FY 2024) revenue rose 81%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of True Credits is 06AAGCT4180P1ZT, registered in Haryana.
The CIN (Corporate Identification Number) of True Credits is U65190HR2017PTC070653. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
True Credits has 124 court cases on record: 3 filed by the company and 22 filed against it. 81 are pending. Most are in the district courts.
True Credits was incorporated on 05 September 2017, making it 9+ years old. It is registered with the Registrar of Companies, Delhi.
True Credits has 23 deals on record (14 debt financings, 7 rights issues, 2 acquisitions), with disclosed funding of ₹339.6 Cr; the latest was in October 2024.
The peers of True Credits by revenue are Kinara Capital Private Limited, Ambit Finvest Private Limited, Sherya Portfolio Private Limited, JM Financial Products Limited, Stci Primary Dealer Limited and 5 more, all in the BFSI industry (NBFC Investment and Credit Companies, Small Non Deposit NBFC).
Anupam Vasdani was appointed as Additional Director on 12 Dec 2025. Cheolwon Lee ceased to be Director on 15 Jul 2025. Padmaja Makarand Parange ceased to be Additional Director on 30 Sep 2024. True Credits has 16 board changes on record in total.