Kubr · Markets · Last reviewed 3 November 2026

Due diligence report India: private company checks

In India the same sales show up in GST returns, e-invoices, bank flows and Ministry of Corporate Affairs (MCA) filings. We line them up and show where they disagree.

Company filings and charges (loans secured on company assets) from MCA21, the company registry. Public GST registration status, and court and insolvency records. With the company's consent: GST returns, bank data, provident fund (EPFO) and customs data.

Where Kubr stands in India

Stage: Scoping. Registry, court and public GST checks run without the company. Bank, tax and payroll checks start only after the company consents. The routes are being confirmed with local counsel.

Clients here: funds, lenders, founders, accounting and law firms.

Kubr is not registered with SEBI as an investment adviser or research analyst and does not give investment advice. Kubr is not a law firm or an audit firm.

India is where every service applies: MCA21, GST, e-invoicing, bank data through Account Aggregators, payroll and court records can all be matched against each other.

Registers and records we read in India

Source	What it holds	How we get it
MCA21 (Ministry of Corporate Affairs)	Company and LLP master data, directors by DIN (director identification number), filed annual returns (Form MGT-7) and financial statements (Form AOC-4), allotments, auditor filings, name history, status and strike-off	Read by Kubr
MCA21 charge records	Registered charges (a lender's security over company assets): when created, changed or repaid, plus the lender, amount and asset	Read by Kubr
GST portal public taxpayer search	GSTIN (GST registration number) status, legal and trade name, registration date, cancellation date, constitution, place of business, return filing table by year	Read by Kubr
GST returns via a licensed GST Suvidha Provider	The monthly GST returns (GSTR-1 for sales, GSTR-3B for tax paid, GSTR-2B for purchases), e-invoice data and e-way bills (goods movement permits) for the taxpayer	Read after the company consents
Income tax portal (ITR, Form 26AS, AIS)	Filed returns, tax credits and the annual information statement of the company and its promoters	Supplied by the company
eCourts services, High Courts and Supreme Court	Civil and criminal cases by party name, stage, next date and orders	Read by Kubr
NCLT and NCLAT (company law tribunals)	Insolvency, oppression and other company petitions, hearing lists and orders	Read by Kubr
IBBI (Insolvency and Bankruptcy Board of India)	Corporate insolvency resolution and liquidation cases, resolution professionals, public announcements	Read by Kubr
CERSAI (central register of security interests)	Security interests created on immovable and movable assets and receivables in favour of lenders	Read by Kubr
SEBI orders and stock exchange disclosures	Enforcement orders, debarments, listed-company shareholding, pledges, related-party and event disclosures	Read by Kubr
EPFO (Employees' Provident Fund Organisation) establishment records	Provident fund registration, contribution regularity and headcount signals for the establishment	Read after the company consents
IP India (patents, trade marks, designs)	Applications, registrations, owners and renewals	Read by Kubr
Registered credit rating agencies	Published rating actions on bank facilities and debt instruments	Read by Kubr
Credit information companies (licensed by RBI)	Kubr does not pull these. A credit report that the borrower or its lender chooses to share is labelled company-supplied	Supplied by the company

Due diligence on an Indian company for a foreign investor

An investor based outside India can start from the same public records: company filings and registered charges on MCA21, civil and criminal cases on eCourts, company law petitions at the NCLT and NCLAT, insolvency cases at the IBBI, and security interests on CERSAI.

Registry, court and public GST checks run without the company. Bank, tax and payroll checks start only after the company consents. The report says which records were pulled from source and which the company supplied.

Kubr's design commitment for India, pre-launch, is that data is sourced from providers licensed in India and handled inside India. Nothing about an Indian company or its people is meant to leave the country for processing. Exact legal duties are to be confirmed with local counsel.

Kubr does not give legal advice or investment advice. A legal opinion comes from an advocate or law firm enrolled with a State Bar Council, engaged by you. Investment advice is a SEBI-regulated activity, and Kubr is not a SEBI-registered adviser. Read the private company due diligence guide for the method, or see a sample report.

Rules that shape the work

Company law and registry: Companies Act, 2013 and the LLP Act, 2008. The registry is MCA21 (version 3), run by the Ministry of Corporate Affairs. Master data and public documents can be viewed on the portal; downloading filed documents needs a login and a per-company fee.
Data protection: Digital Personal Data Protection Act, 2023. The DPDP Rules were notified in November 2025 and commence in phases. The Data Protection Board comes first. Consent-manager provisions follow after about 12 months. The main duties on data fiduciaries, the organisations that decide how personal data is used, follow after about 18 months, around May 2027. Company records are not personal data. Director, promoter and employee details are.
Financial data: Bank data through a Reserve Bank of India regulated Account Aggregator, on the company's consent. Only regulated financial institutions can receive Account Aggregator data, so Kubr reads it through a regulated partner or the client's own regulated institution, and the company uploads statements where neither applies. GST return data through a licensed GST Suvidha Provider or a download from the company's own login. Both need the company's consent.
Securities regulator: SEBI. Investment advice and research analysis are regulated activities under the Investment Advisers and Research Analysts Regulations. Kubr is neither. Alternative investment funds (AIFs) registered in India are also regulated by SEBI.
Speed: Registry and public GST data in minutes. Bank and tax data in minutes once the company consents. Standard packs inside 2 to 5 days.
Reliability: The deepest record set of any market we serve. Government portals do go down. Each outage pauses the clock, and the pause is logged and shown to you.

How we check sales and cash here

India has a GST return feed, e-invoice registration, a consent-based bank data network and public payroll and customs signals, so sales can be tested from several independent sides. Each consent-based layer needs the company to say yes. Coverage varies by company: a business under the e-invoice threshold has no e-invoice layer, and a company that will not consent leaves a stated gap.

Where your data is held

Sourced from: Government registers and portals, RBI-authorised Account Aggregators, licensed GST Suvidha Providers and registered rating agencies, all operating in India.

Storage and analysis are designed to sit on infrastructure in India, under the DPDP Act, 2023 and its Rules as they phase in. RBI rules require payment-system data to be stored in India, and we treat Account Aggregator data the same way as a matter of design. Cross-border transfers: none, by design. Exact legal duties to be confirmed with local counsel.

Reports available in India

Verified SnapshotFull
MCA21 master data, directors by DIN, open and repaid charges, filing record, CERSAI (the central register of security interests), court and tribunal searches (eCourts, NCLT), insolvency records (IBBI), public GST status and adverse press. Limits: Court name searches can return namesakes, so an analyst checks each hit. Typical turnaround: 2 to 5 working days from a complete data set.
Financial diligenceFull
GST return checks (GSTR-1, GSTR-3B, GSTR-2B), e-invoice data, bank data through an Account Aggregator, filed accounts (AOC-4), and income tax records (ITR, 26AS, AIS) where the company uploads them. Limits: Consent-based layers wait for the company. Under the e-invoice threshold there is no e-invoice layer. Typical turnaround: 2 to 5 working days from a complete data set.
Legal diligence supportFull
Charges, CERSAI security interests, litigation and tribunal records, statutory filings, licences on public registers and regulator orders. Limits: Title to land and property is held in state registries with uneven online access, so it is flagged for counsel. Typical turnaround: 2 to 5 working days from a complete data set.
Promoter profilesFull
Directorships and DIN history, MCA21 filings, disqualifications, court and tribunal records, SEBI orders, shares pledged by promoters and press. Limits: Personal data of individuals is handled under the DPDP Act. Personal tax and credit data need the promoter's own consent. Typical turnaround: 2 to 5 working days from a complete data set.
IC noteFull
A summary of findings for an investment committee, credit committee or board pack, with each flag tied to its source and gaps stated. Limits: It contains no recommendation. A named adviser or your own team decides. Typical turnaround: 2 to 5 working days from a complete data set.
Portfolio monitorFull
Monthly watch on MCA21 filings and charges, GST registration and return regularity, court and tribunal cases, rating actions and press, for each company in a portfolio. Limits: Consent-based feeds such as GST returns and bank data continue only while consent stays live. Typical turnaround: Baseline in 2 to 5 working days, then each update in 2 to 5.
Model checkFull
The company's model checked for arithmetic, and its history checked against GST returns, bank data and AOC-4 accounts. Limits: We test the model against records. We do not build or approve forecasts. Typical turnaround: 2 to 5 working days from a complete data set.
Valuation contextFull
Listed-peer multiples from NSE and BSE filings, takeover and open-offer documents, and MCA21 accounts of private peers. Limits: Private peers file late. Most private deals do not disclose price. Typical turnaround: 2 to 5 working days from a complete data set.
Rating historyFull
Rating actions by registered agencies, by instrument and issuer, including withdrawals and issuer-not-cooperating notices, set against charges and borrowings. Limits: A privately rated instrument may not be public. Typical turnaround: 2 to 5 working days from a complete data set.
Borrower monitorFull
Borrower watch for lenders: new charges, GST filing lapses, return-to-return sales drift, cash-flow changes from consented bank data, cases and rating changes. Limits: Bank and GST layers need renewed consent. Consent lapses are flagged. Typical turnaround: Baseline in 2 to 5 working days, then each update in 2 to 5.
Proceeds tracerFull
Follows drawn funds through consented bank transactions to named counterparties, checks those counterparties on GST and MCA21, and compares flows with the stated purpose. Limits: Only accounts the borrower consents to are visible. Other accounts are a stated gap. Typical turnaround: Baseline in 2 to 5 working days, then each update in 2 to 5.

Not yet available here: none. See all eleven reports or read the sample report.

Work that needs a licensed professional

Investment advice or research: A SEBI-registered investment adviser in our group, in its own name, for India residents only..
Audit or attest: A chartered accountant firm engaged by the client, licensed by ICAI..
Legal opinion: An advocate or law firm enrolled with a State Bar Council, engaged by the client..
Bank-data aggregation: An Account Aggregator authorised by the Reserve Bank of India, on the company's consent..
GST data access: A licensed GST Suvidha Provider, on the taxpayer's consent..

Kubr is not a SEBI-registered investment adviser or research analyst, not a chartered accountant firm, not an advocate or law firm, and not a credit information company. We issue no opinions, ratings, valuations or recommendations. A group company is a SEBI-registered investment adviser, a separate legal entity, and it serves India residents only. Its services are contracted separately and are not part of a Kubr pack. Regulatory position to be confirmed with local counsel under the SEBI Investment Advisers Regulations, 2013 and the SEBI Research Analysts Regulations, 2014.

Company records are not personal data, but director, promoter and employee data are, and fall under the Digital Personal Data Protection Act, 2023. The DPDP Rules, 2025 were notified in November 2025 and the main duties on data fiduciaries phase in around May 2027. Consent for Account Aggregator, GST and tax data is taken from the company or person concerned, is limited to a stated purpose, and can be withdrawn.

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Kubr is a technology platform, not an adviser, law firm, auditor, rating agency or credit bureau. Reports are for the named client only and are not investment advice, an audit or a legal opinion. Full disclosures. Source data for this page: the Kubr market pack for India, reviewed 3 November 2026.