FlowTex leased drilling machines that mostly didn't exist
FlowTex · Drilling equipment leasing (private)
The case in brief
Visible before detection
Checks that could have surfaced it, on hindsight
Operating-metric verification
Would have counted machines in the field against those sold.
Can mislead when: Contract staff do not appear in EPFO. Vahan access needs licensed APIs. Some businesses have no physical trace.
Collateral & double pledge
Would have shown the same machine pledged to several lessors.
Can mislead when: Pledges made off the registries stay invisible, and vague invoice descriptions are hard to match.
Document authenticity / direct pull
Would have checked machine certificates with the manufacturer.
Can mislead when: The company can refuse consent, and a refusal is itself a flag. Some banks and co-op banks are not on AA yet.
Where Kubr services would have helped
Financial diligence
Offered in India- C5 Would have checked machine certificates with the manufacturer.
- C10 Would have counted machines in the field against those sold.
Portfolio monitor
Offered in India- C10 Would have counted machines in the field against those sold.
- C13 Would have shown the same machine pledged to several lessors.
Verified Snapshot
Offered in India- C13 Would have shown the same machine pledged to several lessors.
Legal diligence support
Offered in India- C13 Would have shown the same machine pledged to several lessors.
Mapped from the checks each service runs. A hindsight reading of public records, not a promise that the failure would have been found.
Same pattern
A summary of public documents. It reports what the sources say. It is not Kubr's finding and not a statement of guilt.