About Upscalio India Private Limited
Data last updated:
Upscalio India Private Limited is a private limited company based in Gurgaon, Haryana, India, a subsidiary of Upscalio Pte. Ltd.. 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 online service marketplaces segment of the internet and digital services sector. It was incorporated on 07 June 2021.
The company is registered with the Registrar of Companies (ROC), Delhi, under CIN U51100HR2021PTC095460. Its GSTIN is 06AACCU8519R1ZL (Haryana). The company holds 11 GST registrations, of which 5 are active.
The company has an authorised share capital of ₹2.5 Cr and a paid-up capital of ₹1.45 Cr. It is led by directors including Nitin Agarwal and Saaim Ismail Khan.
Its last annual general meeting (AGM) was held on 20 December 2023, and its latest financial statements are for the year ended 31 March 2023. The registered office is at Sector 32, Gurgaon, Haryana.
As per the financials filed for FY 2023, the company reported a revenue of ₹43.09 Cr, reflecting significant growth compared to the previous year. For the same year it recorded a net loss of ₹77.96 Cr (net margin -180.9%) and EBITDA of -₹50.23 Cr (EBITDA margin -116.6%).
The company has about 54 employees on its provident fund (EPFO) records. Its group structure includes 8 subsidiaries.
The company is associated with 1 brand: UpScalio. As per MCA filings, the company has open charges of ₹155 Cr on record. Court records list 4 cases involving the company, including 1 filed by the company and 3 filed against it. The company has 11 deals on record (4 funding rounds, 3 rights issues, 3 debt financings), with disclosed funding of ₹55.74 Cr; the latest was in November 2022. The company has 6 MSME Form 1 returns on record between 2022 and 2024, listing 89 overdue payments to 19 micro and small suppliers.
The last known website on record is upscal.io.
Company details
CIN history
Upscalio India has one previous CIN (Corporate Identification Number): U24290HR2021PTC095460. The current CIN is U51100HR2021PTC095460, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U51100HR2021PTC095460 | Current |
| U24290HR2021PTC095460 | Previous |
Contact details
Upscalio India Private Limited's registered office is in Gurgaon, Haryana. Its website is upscal.io. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressPlot No. 37B, Sector 32 India, Gurgaon, Haryana, India – 122001
- IndustryInternet, Online Service Marketplaces
To see the full contact details of Upscalio 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
Business activity
The main business activity of Upscalio India 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 Upscalio India Private Limited, buy the company report.
Financials of Upscalio India Private Limited
FY 2023 filings availableUpscalio India Private Limited reported revenue of ₹43.09 Cr (up 185% YoY) for FY 2023.
Compounded Annual Growth Rate (CAGR)
Revenue rose 185% in the latest year. EBITDA fell 112% in the latest year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2022-23 | FY 2021-22 |
|---|---|---|
| Profit and Loss Statement | ||
| Revenue from Operations | ||
| Other Income | ||
| Total Revenue | ₹43.09 Cr | |
| Cost of Materials Consumed | ||
| Employee Benefit Expense | ||
| Finance Costs | ||
| Depreciation and Amortisation | ||
| Other Expenses | ||
| Total Expenses | ||
| EBITDA | -₹50.23 Cr | |
| Profit Before Tax | ||
| Tax Expense | ||
| Net Profit (PAT) | -₹77.96 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 |
|---|---|---|
| Profitability | ||
| EBITDA Margin | -116.6% | |
| Net Profit Margin | -180.9% | |
| 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 Upscalio India Private Limited, buy the company report.
Board of directors of Upscalio India Private Limited
Upscalio India has 3 current directors and 3 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Nitin Agarwal Also directs: Artermis Consumer India Private Limited | Additional Director | 06 Jul 2021 | 5 Years 3 Months | As last reported |
| Saaim Ismail Khan Also directs: Scale Polestar India Private Limited, Scale Accessher India Private Limited, Scale Wink India Private Limited and 4 more | Additional Director | 29 Sep 2021 | 5 Years 1 Months | As last reported |
| Gautam Kshatriya Also directs: Kshatriya Ventures LLP, Artermis Consumer India Private Limited | Additional Director | 19 Sep 2021 | 5 Years 1 Months | As last reported |
Auditor
Upscalio India Private Limited is audited by J.C. Bhalla & Co. for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| J.C. Bhalla & Co. | FY 2023 | 001111N |
Shareholding
The shareholding of Upscalio India Private Limited is on record for 2 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 |
|---|---|---|
| Promoters | ||
| Domestic institutional investors (DII) | ||
| Foreign institutional investors (FII) | ||
| Public | ||
| Others |
To see the full shareholding pattern of Upscalio India Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 24 Nov 2022 | 100652150 | Others | ₹10 Cr | Open | |
| 10 Jun 2022 | 100588782 | Others | ₹15 Cr | Open | |
| 31 Mar 2022 | 100563373 | Others | ₹5 Cr | Open | |
| 31 Mar 2022 | 100563376 | Others | ₹2 Cr | Open | |
| 16 Feb 2022 | 100544299 | Others | ₹25 Cr | Open |
To see the full charge records of Upscalio India Private Limited, buy the company report.
Total charge records: 14 View all charges
Deals & funding
Upscalio India Private Limited has 11 deals on record (4 funding rounds, 3 rights issues, 3 debt financings), with disclosed funding of ₹55.74 Cr; the latest was in November 2022.
Deals on record (5 of 11)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Nov 2022 | Rights issue | ₹10.95 Cr | Investors: Upscalio Pte Limited |
| Aug 2022 | Funding round · Series A | ₹75 Lakh | Investors: Unity Small Finance Bank Limited |
| Jun 2022 | Funding round · Series A | ₹2.5 Cr | Investors: InnoVen Capital |
| Apr 2022 | Debt financing | ₹10 Cr | Investors: InnoVen Capital |
| Mar 2022 | Rights issue | ₹50 Cr | Investors: Upscalio Pte Limited |
To see the full deal history of Upscalio 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
Upscalio India Private Limited has 4 court cases on record: 1 filed by Upscalio India, 3 filed against it. All cases are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 2 | 2 | 0 |
| Supreme Court | 1 | 0 | 0 |
| NCLT | 1 | 1 | 0 |
Cases on record (3 of 4)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Delhi | Arbitration matter | Filed against the company by Ceva Logistics India Pvt. Ltd. | Disposed |
| NCLT, Chandigarh | Insolvency matter | Filed against the company by Vivriti Capital Limited | Disposed |
| Supreme Court | Court case (1101-Arbitration Matters : Arbitration Petitions under Section 11 of Arbitration & Conciliation Act, 1996) | Filed by the company against an individual | Disposed |
To see the full case history of Upscalio 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
Upscalio India Private Limited has 6 MSME Form 1 returns on record between 2022 and 2024, listing 89 overdue payments to 19 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 19)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Xbyte Technolabs Private Limited | |||
| Bitonic Technology Labs Private Limited | |||
| Saras Solutions India Private Limited | |||
| an individual supplier | |||
| Ziton Consulting Private Limited |
To see the full MSME payment records of Upscalio India Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Upscalio India has 8 subsidiary companies. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Scale Polestar India Priva | U19100HR2021PTC097038 | |
| Scale Accessher India Private Limited | U24239HR2021PTC096127 | |
| Scale Wink India Private Limited | U24290HR2021PTC096124 | |
| Scale Luxura India Private Limited | U51100HR2021PTC096326 | |
| Aphrodite Consumer India Private Limited | U51100HR2021PTC098040 | |
| Hera Consumer India Private Li | U52601HR2021PTC098158 |
To see the full group structure of Upscalio India Private Limited, buy the company report.
Employees & EPFO
Upscalio India Private Limited has a workforce of 54 employees on its EPFO records as of Mar 23, 2024, across 1 active EPFO establishment.
GST
Upscalio India has 11 GST registrations: 5 active and 6 cancelled or inactive. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 06AACCU8519R1ZL | Haryana | Active | 28 Jul 2021 |
| 07AACCU8519R1ZJ | Delhi | Active | 25 Aug 2021 |
| 19AACCU8519R1ZE | West Bengal | Active | 27 Aug 2021 |
| 27AACCU8519R1ZH | Maharashtra | Active | 01 Sep 2021 |
To see the full GST registrations and return filing status of Upscalio India Private Limited, buy the company report.
Recent activity
Upscalio India Private Limited has 6 board changes on record since 2021: 3 appointments and 3 cessations. The latest: Saaim Ismail Khan was appointed as Additional Director on 29 Sep 2021.
13 earlier events are in the company report.
News
Frequently asked questions
Upscalio 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.
Upscalio India is a company under insolvency, formerly operating as a private limited company based in Gurgaon, Haryana, India. The company works in online service marketplaces, within the internet industry. It was incorporated on 07 June 2021 and is registered under CIN U51100HR2021PTC095460. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Upscalio India has 3 current directors:
- Nitin Agarwal - Additional Director
- Saaim Ismail Khan - Additional Director
- Gautam Kshatriya - Additional Director
The latest financial statements of Upscalio India on record with the MCA are for the year ended 31 March 2023. Its last annual general meeting was held on 20 December 2023. Year-wise statements from FY 2022 are in the company report.
The CIN (Corporate Identification Number) of Upscalio India is U51100HR2021PTC095460. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Upscalio India has open charges of ₹155 Cr and no satisfied charges on record as per latest MCA filings.
Upscalio India has 4 court cases on record: 1 filed by the company and 3 filed against it. Most are in the high courts.
Upscalio India was incorporated on 07 June 2021. It is registered with the Registrar of Companies, Delhi.
Upscalio India has 11 deals on record (4 funding rounds, 3 rights issues, 3 debt financings), with disclosed funding of ₹55.74 Cr; the latest was in November 2022.
Saaim Ismail Khan was appointed as Additional Director on 29 Sep 2021. Gautam Kshatriya was appointed as Additional Director on 19 Sep 2021. Haresh Narang ceased to be Additional Director on 19 Sep 2021. Upscalio India has 6 board changes on record in total.
Upscalio India has 6 MSME Form 1 returns on record between 2022 and 2024, listing 89 overdue payments to 19 micro and small suppliers. The latest return was filed on 30 Apr 2024.