SEBI bars Seya Industries executives over fictitious sales and siphoning
Seya Industries Ltd · Specialty chemicals
The case in brief
Visible before detection
Checks that could have surfaced it, on hindsight
Counterparty tax/GST
Would have shown counterparties' GST filings did not match reported sales.
Can mislead when: Needs taxpayer consent or GSP access. A registered, filing shell still passes this check, which is why C3 and C4 run beside it.
Regulatory & litigation records
Would have found NPA declarations, arbitration and GST demands.
Can mislead when: Court records lag and name spellings vary. A clean record can mean the problem has not reached court yet.
End-use tracing of funds
Would have traced funds moving to promoter-linked companies.
Can mislead when: Kubr sees only the company's own accounts. Once money reaches a third party's bank, Kubr can flag the payee but cannot see the next hop without that party's consent.
Where Kubr services would have helped
Borrower monitor
Offered in India- C2 Would have shown counterparties' GST filings did not match reported sales.
- C6 Would have traced funds moving to promoter-linked companies.
- C8 Would have found NPA declarations, arbitration and GST demands.
Portfolio monitor
Offered in India- C2 Would have shown counterparties' GST filings did not match reported sales.
- C8 Would have found NPA declarations, arbitration and GST demands.
Proceeds tracer
Offered in India- C2 Would have shown counterparties' GST filings did not match reported sales.
- C6 Would have traced funds moving to promoter-linked companies.
Verified Snapshot
Offered in India- C8 Would have found NPA declarations, arbitration and GST demands.
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.