Portfolio monitor
Every month, we check the registries again.
A monthly re-pull of registry records for each company you back, plus bank data while consent lasts, and tax data where the market provides it. A new charge, case or auditor exit reaches you before the board pack does.
Funds and family offices
Several unlisted positions, quarterly management reports (MIS) from each, and nobody checking either against source. The first you hear of a new charge is from the company's lender at the next board meeting.
Private credit lenders
Equity or mezzanine (junior debt) positions sit beside the loan book, watched by a team that already keeps too many sheets tracking loan covenants.
We re-check each company against its public records every month, against a baseline we recorded on day one. Where consent is live, we also re-pull bank data, and tax data where the market provides it, and set them beside the MIS. A named analyst reads every alert before it reaches you. The monthly note goes to the partner who sits on the board, and the change log to whoever keeps the portfolio file.
Auditor resignation filed 14 Aug: the statutory auditor resigned mid-term, 9 days before the annual general meeting (AGM) notice. The MIS for the same month shows no change.
Illustrative finding. Not a real company.
What lands on your desk
Monthly watch note
One page per company: what changed, the source, the date pulled. A quiet month says so in one line.
Change log
Every new charge, case, director and auditor event, linked to its filing.
Source vs reported
Bank credits and tax turnover, where available, beside the MIS, while consent is live.
Between-cycle alerts
Insolvency petitions, auditor resignations and charge changes, read by an analyst within 2 to 5 days of the change.
How the work runs
Set the watchlist
Names or registration numbers. We map ownership from officer records and ownership filings, so linked entities are watched with the company.
Record a baseline
Charges, auditor, directors, open cases, filing status, published rating actions. Change is measured against this baseline, so it is the most carefully checked step.
Re-pull monthly
Same registries each cycle. With live consent, bank data using the RBI Account Aggregator framework, and tax returns where the market provides them.
Compare and flag
A new or modified charge, an auditor resignation, a missed filing, a director who left, bank credits well below the revenue in the MIS.
Review and send
An analyst checks each flag at source. Urgent items, such as an insolvency petition, go out between cycles.
Baseline
A full Snapshot of every company in the portfolio, so change can be measured against it.
Monthly re-check
Charges, directors, filings, cases, rating actions, promoter pledges and, where the market publishes it, tax filing regularity.
Alerts
A public change is flagged as soon as we see it. Typically the same day, and within 2 to 5 days of the record appearing.
Quarterly KPI pack
Operating metrics from the company's own data, tied to bank data or statements, and to tax returns where the market provides them, with the company's consent.
Portfolio view
One page across the book: who moved, who is quiet, who needs a call.
History
A dated log per company.
List the companies and pay for the first month.
Baseline records pulled for each company.
Baseline notes reviewed and released.
Re-check runs. A change opens an alert.
An analyst reads the alert before it reaches you.
Usually (our estimate)
Usually a quarterly manual refresh by an associate, or nothing until the next board.
Kubr
Baseline in 2 to 5 Business Days, then each update in 2 to 5.
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
Governance signals feature in many of the 483 cases and bank-to-books gaps in many of them. Most were visible over time and not on one day.
Operating metrics that could not be verified feature in many cases. The quarterly pack ties them to a source.
We do not predict outcomes. We show change, dated and sourced.
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 |
|---|---|---|---|
| Bank credits vs books | We compare the money that actually moved through the bank with the sales and costs in the books, month by month. | The books show ₹4 crore of sales in a quarter. Bank credits from customers add up to ₹2.5 crore. | AA only sees the accounts the company links, so an undisclosed account stays invisible. Cash-heavy businesses and timing differences create false flags. |
| Counterparty tax / GST | We look up the main customers and suppliers in the tax system and see whether they are active, filing, and report the same trades. | A customer the company calls its largest has not filed a return in a year. | Needs taxpayer consent or GSP access. A registered, filing shell still passes this check, which is why C3 and C4 run beside it. |
| 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. |
| 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. |
| Operating-metric verification | We test claimed headcount, stores, vehicles, units and users against independent traces. | The company claims 800 staff. Provident fund filings show 140. | Contract staff do not appear in EPFO. Vahan access needs licensed APIs. Some businesses have no physical trace. |
| 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
- Bank and tax checks run only while consent lasts. When it lapses they stop, and the note says so first.
- Registries lag, and private companies file late. Each item carries its filing date.
- An alert is a signal. Auditors resign for ordinary reasons too. We show the filing and the judgement is yours.
- Unlinked bank accounts are out of view. Each note lists the accounts that are linked.
Not in this service: predict outcomes.
What it can do
- Track new, modified and satisfied charges (Form CHG-1 charge registrations) and other security registrations.
- Catch auditor resignations, director changes and late filings of accounts or annual returns.
- Search court and insolvency records (eCourts, NCLT and NGT) across the company, its promoters and linked entities.
- With live consent, compare monthly bank credits, and tax turnover where available, with the MIS you were sent.
Why it differs from the usual way
Usually
Monitoring runs on the MIS and compliance certificates the company sends.Kubr
We re-pull bank, registry and, where available, tax data and set it beside the MIS.Usually
Registry checks happen once, at diligence, and are never repeated.Kubr
The same checks rerun every month against a recorded baseline.Usually
Searches cover the company name only.Kubr
Searches cover promoters, group companies and linked counterparties.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-return data, where the market provides it (with consent) | |
| Bank data, with consent (the RBI Account Aggregator framework) | |
| Published credit-rating actions |
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
- 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.
- What is thinner here
- Consent-based feeds such as GST returns and bank data continue only while consent stays live.
What it costs
Pick the size of the deal or exposure. The fee is fixed before work starts.
₹25,000 / month
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
What if the company withdraws consent?
Bank and tax checks stop that month. Registry monitoring carries on. The note states the date consent lapsed.
Will you tell us what to do?
No. We report what changed and where it came from. The decision stays with you.
Which companies can you watch?
Companies found in MCA21, listed or unlisted. Registry checks need no consent. Bank and tax checks need the company's.
How fast is an alert?
An analyst reads it within 2 to 5 days of the record appearing, and urgent items go out between cycles. Registries lag, so we measure from when the filing is visible.
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.