Justo Realfintech Limited Hit with ₹3.00 Lakh Fine by RoC Mumbai for Companies Act Violation
Justo Realfintech Limited has been penalized by the Registrar of Companies (RoC), Mumbai for violating provisions of the Companies Act, 2013. The company received an adjudication order on December 30, 2025, imposing a total penalty of ₹3.00 lakh for contraventions related to private placement procedures.
The RoC Mumbai issued an order for adjudication against Justo Realfintech Limited for violation of Section 42(4) of the Companies Act, 2013. The regulatory action stems from a compounding application made by the company itself for the violation.
The violation pertains to the utilization of funds raised through private placement prior to filing the return of allotment with the Registrar. This contravention falls under Section 42(4) of the Companies Act, 2013, which governs the procedures and compliance requirements for private placement of securities.
The monetary penalty has been distributed between the company and its directors under the penal provisions of Section 42(10) of the Companies Act:
| Penalty Component | Amount | |-------------------|-----------| | Company Penalty | ₹2.00 lakh | | Directors Penalty | ₹1.00 lakh | | Total Penalty | ₹3.00 lakh |
The regulatory action results in a direct financial impact of ₹3.00 lakh on Justo Realfintech Limited and its directors. The penalty represents the quantifiable monetary consequence of the compliance violation related to private placement fund utilization procedures.
Justo Realfintech Limited, a tech-enabled mandate-driven real estate sales, marketing, and execution platform, is committed to strengthening its operations and presence in the real estate market. Despite the penalty, the company continues to focus on expanding its reach and enhancing its services in key markets.
In a related development, Justo Realfintech Limited has also announced the strategic acquihire of Pune-based Hustlewin, enhancing its operations in the Pune real estate market. Hustlewin, established in 2022, has sold 1,000 flats worth ₹900 crore, covering over 10 lakh sq.ft. in PMC and PCMC areas. The integration brings 25 top professionals from Hustlewin to Justo, including Pushpendra Rathore as Market Head for Pune & Emerging Markets.
This move is expected to add ₹20 crore in annual revenue to Justo from FY27 and allows the company to take over four ongoing residential projects in Pune. The acquisition aims to strengthen Justo's execution capability and expand its presence in Pune and surrounding markets.
Established in 2022, Hustlewin has rapidly emerged as one of Pune's fastest-growing execution platforms with impressive achievements:
| Performance Metric | Achievement | |--------------------|-------------------| | Flats Sold | 1,000 units | | Cumulative Sales Value | ₹900.00 crore | | Area Sold | Over 10 lakh sq.ft. | | Coverage Area | PMC and PCMC |
The integration brings Hustlewin's on-ground strengths into Justo's consolidated delivery framework and is expected to add upwards of ₹20.00 crore in annual revenue visibility to Justo, starting from FY27.
As part of the acquihire, 25 of Hustlewin's top-performing sales, marketing, and execution professionals will join Justo, further strengthening the company's presence across Pune and adjoining micro-markets. The transition enables Justo to take over the execution of four ongoing residential projects in Pune, along with a strong pipeline of upcoming mandates.
Pushpendra Rathore, CEO & Managing Director of Hustlewin, joins Justo as an additional Market Head for Pune & Emerging Markets. With leadership experience at 99acres and Relation Realtech, he has contributed to the execution of more than 50 projects across Pune's prime micro-markets. Reporting to Nitin Pardeshi, Director-Sales & Marketing at Justo, Pushpendra will work alongside other Market Heads Sandeep Kulkarni and Vishal Thigaley.
Puspamitra Das, Founder & CMD of Justo Realfintech Limited, emphasized the strategic importance of this move: 'This acquihire enhances our execution capability in a market that is strategically vital for us. Hustlewin's on-ground expertise and micro-market understanding add meaningful strength to our platform. With Pushpendra coming on board, we are creating a more integrated, scalable engine for our mandate-led growth.'
Pushpendra Rathore expressed his enthusiasm about joining Justo: 'I am delighted to be part of the Justo family. This integration brings together Hustlewin's entrepreneurial execution strengths with Justo's institutional scale and technology framework. Our immediate priority is to drive consistent sales momentum, stronger developer partnerships, and growth to new markets.'
The acquihire significantly enhances Justo's execution capability by combining seasoned on-ground leadership, strong developer relationships, and a proven mandate delivery framework. The comprehensive business impact includes:
| Business Parameter | Details | |--------------------|-----------------------------| | Annual Revenue Addition | ₹20.00 crore from FY27 | | Team Expansion | 25 professionals | | Project Takeover | 4 ongoing residential projects | | Annualised Business Potential | ₹800.00-1,000.00 crore | | Existing Business Volume | ₹2,000.00 crore |
As Justo scales across Pune, Nagpur, Raipur, and Indore, Pushpendra will eventually lead a team of over 80 members within Justo's overall 350-strong Pune-based workforce. The company is also actively exploring similar opportunities to further strengthen and expand its presence in Mumbai and Pune markets.
