Verified Snapshot
What the public record says, before the company tells you anything.
A red-flag read of one private company from registries, courts and published filings. It lands before the data room opens. You see who owns it, who has lent to it and who is suing it. Lenders show up as registered charges, which are claims over the company's assets.
Funds and family offices
The deck arrived on Friday. It says no external debt and a clean cap table. Before anyone books a second meeting, you want the registry's version.
Private credit lenders
A new borrower is in the pipeline and the introducer says the group is clean. You want the charge register and the group's cases on file before the first sanction call.
Founders and CFOs
You are about to open your own data room. Run the searches an investor's associate will run in week one, and fix the debt schedule before they find the gap.
One company, read from public registries by a named analyst. MCA21 is the Ministry of Corporate Affairs' company registry. The record as filed: owners and directors, the other companies those directors sit on, charges, cases, and tax-registration status where the market publishes it. The partner or credit head reads the first page. The associate who opens the data room next takes the questions list. Nothing is asked of the company. Where privacy law requires notice to the people named in a record, we give it or record why it is not required.
The debt schedule lists two lenders. The charge register lists three. The third filed a charge of ₹1.8 cr in 2023.
Illustrative finding. Not a real company.
What lands on your desk
One-page summary
Each red flag with its source filing and date, ranked by size. The last box lists the searches we did not run, so nobody mistakes silence for a clean result.
Ownership map
Shareholders and officers as filed, directors by DIN, and their other companies. Where a market keeps no public owner register, ownership is a flag list and not a proof.
Charges and cases
Holder, amount, date and status per charge. Forum, stage and amount per case. Satisfied charges stay on the list, because a lender that left in 2021 tells you something.
Questions for management
What the records raise that only the company can answer, in the order to ask. Your associate takes it into the first management call.
How the work runs
Confirm the entity
We match the CIN to the legal entity in MCA21, including name history, so the search runs on the right company and its former names. The engagement letter fixes scope and price before you pay.
Pull the filings
Master data, shareholding and officer filings, annual returns and filed accounts from MCA21. We read the auditor's report and the related-party note as well as the balance sheet. The notes are where the awkward facts sit.
Map the directors
Each DIN is traced to every other directorship. Companies that share directors or an address with the target go into every later search. A lender missing from the deck often turns up one company over.
Search charges, courts
Charges (Form CHG-1 charge registrations), other security registrations and cases (eCourts, NCLT and NGT), across the group and not the target alone. Then borrowings in the filed accounts against the charge register. Debt with no charge and a charge with no debt are both findings.
Analyst review
AI tools draft and cross-check. A named analyst reads each flag against its source filing and strikes what does not hold. Name collisions are the commonest strike.
Identity and status
Legal name, entity number, date of incorporation, registered address, status (active, struck off, under insolvency), name history, authorised and paid-up capital. Confirms you are searching the right entity.
People
Current and past directors by DIN, tenure, other boards, disqualifications, resignations in the last 24 months, auditor changes. The other boards are where the lender missing from the deck usually turns up.
Ownership
Shareholding from filings, allotments and transfers, the chain up to the ultimate holder where filings show it, and promoter pledges where the company is listed.
Charges
Every open and satisfied charge found through Form CHG-1 charge registrations, with lender, amount, date and asset where shown. Charges created or changed in the last 12 months. Charges set against borrowings in the filed accounts, so debt with no charge and a charge with no debt both show.
Filing health
The last three annual returns and financial statements: filed, late or missing. Auditor remarks, qualified opinions, going-concern notes, related-party notes.
Tax and registrations
Tax registration status and public filing regularity where the market publishes them, trade registrations, licences on public registers.
Cases and orders
Name and CIN search across eCourts, NCLT and NGT, and regulator notices. Forum, parties, stage, amount at stake where stated.
Public record and press
An adverse-media screen with links, and any public statement by a regulator or exchange.
The page you get
A one-page summary. A flag list with the source for each. A box that says what we could not see, so silence is not read as clearance.
Name the company and pay. Payment starts the clock, because every source here is automatic.
Registry and court pulls run in parallel.
Names, identifiers and addresses are matched across records. The charge and ownership map is built.
A named analyst reads each flag against its source and strikes what does not hold.
The summary lands in your workspace and inbox. The 2 to 5 day delivery term covers it.
Usually (our estimate)
Usually 3 to 5 days. A junior searches each register by hand, pulls the PDFs and compiles them, and the court search is the part that gets skipped.
Kubr
2 to 5 Business Days from a complete data set.
Typical times are targets we are still testing in the pilot. The 2 to 5 day window is the commitment. Terms in Disclosures.
What the cases taught us
Ownership and related-party links are in many of the 483 cases in our casebook. They sit in registry filings, so this is the first thing the Snapshot builds.
Regulatory and litigation records feature in many cases. A name search is cheap. Not running it is expensive.
Collateral problems, including double pledges, feature in many cases. Open charges are on the public record where the market keeps one, and the Snapshot lists them all.
Counts come from our first review of the public cases in the casebook on this site. We mapped each case, on hindsight, to the checks that could have surfaced it. It is our reading, not a finding about any company. Many cases describe allegations that are contested. See the cases
ChecksWhat we check, in plain words
| Check | What it means | An illustration (invented) | It can mislead when |
|---|---|---|---|
| Ownership / related-party links | We look for hidden ties between the company's counterparties and its owners, through directors, shareholders, addresses, phones and auditors. | A supplier paid ₹3 crore shares a registered address with the promoter's brother. | Nominee directors and offshore layers hide links. Name matching throws up false positives, so every flag shows its evidence path. |
| Counterparty existence | We check that each material customer, supplier or payee is a real, working business. | A vendor with ₹6 crore of invoices turns out to be a one-room office with no staff. | Real companies can be used as pass-throughs. Existence does not prove a real trade, so C6 and C7 still apply. |
| Regulatory & litigation records | We search courts, tribunals, regulators and insolvency records for cases and orders against the company, its owners and its past firms. | A promoter's earlier company was barred by a regulator two years ago. | Court records lag and name spellings vary. A clean record can mean the problem has not reached court yet. |
| Governance signals | We read the warning signs around the company: auditor changes, qualified opinions, executives leaving, pledged shares and late filings. | The auditor resigned mid-year and the company filed its accounts late. | Private companies file late, so these signals are lagging. Kubr uses them to support other flags, not to prove anything alone. |
| Collateral & double pledge | We check whether the same asset, invoice or receivable was pledged to more than one lender. | One set of receivables appears as security to two different banks. | Pledges made off the registries stay invisible, and vague invoice descriptions are hard to match. |
What it will not tell you
- Turnover and cash. Bank statements and tax returns need the company's consent, and the summary says they were not run.
- Unsecured and promoter loans carry no registered charge. They appear as a known gap, not as nil debt.
- Credit bureau reports go to members and subscribers. If you have access, we read yours alongside.
- Court indexes lag and name spellings vary. We record the search date and every spelling tried, and a clean result is dated, not permanent.
Not in this service: show turnover or cash. That needs the company's consent.
What it can do
- Confirm the company is active and has filed its annual returns and accounts on time.
- List every registered charge and security interest, and flag lenders absent from the deck's debt schedule.
- Search court and insolvency records across the company, its directors and their linked companies.
- Flag auditor exits, director churn, and late or missing filings, each with its date.
Why it differs from the usual way
Usually
An analyst reads the deck and the data room the company prepared, and inherits management's framing.Kubr
We start from the registry, the charge register and the courts, then hold the deck against them. A data room shows what management chose to put in it.Usually
Charge and court searches run on the target's name only.Kubr
We run them across every company linked by directors and shareholders.Usually
A red-flag memo lists concerns without the filing behind them.Kubr
Every line names its filing type and date, so your counsel can check it in minutes and not take it on trust.Records we examine
| Record | What we take from it |
|---|---|
| Company registry (MCA21) | |
| Charge and security registrations (Form CHG-1 charge registrations) | |
| Court and insolvency records (eCourts, NCLT and NGT) | |
| Tax-registration search, where the market publishes one |
Some records need the company's consent. The report says which were pulled from source and which the company supplied.
In India
- What we pull here
- 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.
- What is thinner here
- Court name searches can return namesakes, so an analyst checks each hit.
What it costs
Pick the size of the deal or exposure. The fee is fixed before work starts.
₹50,000
Above the top band the fee is quoted individually. Indicative base, in local currency, before tax. All services and what moves the fee
Shape the scope
Time horizon
Entities
Speed
The fee shown for your deal size is an indicative base. A longer look-back, more entities or a faster turn moves it. The quote fixes the number before work starts.
Questions
Does the company need to know?
No. The Snapshot uses public records only. Bank and tax data need the company's consent and belong to a separate service, Financial diligence.
Is this enough to invest or lend?
No. It shows what the public record says and where it is silent. A clean Snapshot means nothing adverse was filed, which is different from nothing happening. The cover page says it is a first pass.
The registry shows no charges but the deck shows bank debt. What then?
That is a finding. Either the debt is unsecured, which is common with promoter loans, or the charge was never filed. It puts the two lists side by side and says which gap it is.
Does it count toward a larger engagement?
Yes. If you go on to Financial diligence or Legal diligence support, the Snapshot work carries over. You do not pay for it twice.
Often paired with
Start with one company.
We reply within one business day with scope, price and a date. Indicative prices in INR, before GST at 18%. Scope and price are fixed in the engagement letter.