ServiceDisputes
Stressed asset and insolvency forensics
For lenders, resolution professionals and creditors: find out where the money went before the account failed, and what can still be recovered.
When to call us
When to call us
An account has turned irregular
A bank or consortium needs a forensic audit to see whether funds were diverted.
A company has entered insolvency
The resolution professional must identify avoidance transactions within the statutory timelines.
Assets have disappeared
Stock, receivables or property that secured the loan are no longer there.
A fraud classification decision is due
The lender needs facts that will stand up when the borrower is heard.
What we do
What we do
Forensic audits for lenders
Diversion and siphoning of funds, end-use of facilities, related-party transactions and circular trading, for banks, NBFCs and consortia.
Stock and receivables verification
Whether the security on paper ever existed, and where it went.
Transaction audits under the IBC
Preferential, undervalued, extortionate and fraudulent transactions identified for the resolution professional.
Evidence for applications
Findings documented to support avoidance applications before the NCLT.
Promoter asset searches
Assets held by promoters, guarantors and related parties that may support recovery.
How we work
How it works
- 01
Scope
Agreed with the lender, consortium or resolution professional, with the period under review.
- 02
Records
Books, bank statements, stock records and the company’s own systems.
- 03
Field work
Verification of stock, counterparties and related parties on the ground.
- 04
Report
Findings that meet regulatory and NCLT requirements, with the evidence attached.
Why Spectra Forensics
Why lenders and resolution professionals hire us
Fund diversion is designed to look like ordinary trade. We have traced it through circular sales, inflated stock and related parties many times.
Evidence built on 1,250+ investigations since 2007, and ₹2,000 Cr+ in siphoned funds identified across our cases.
- 01Forensic audits built for lender and regulatory requirements
- 02Transaction audits structured for IBC timelines
- 03Field verification of stock, counterparties and promoters
- 04Evidence that stands up when the borrower contests it
Questions
Frequently asked questions
01What is a forensic audit for a bank?
It is an independent examination of a borrower’s accounts to establish whether loan funds were diverted, siphoned or used for purposes other than those sanctioned. Lenders use it when an account shows early warning signs or turns non-performing.
02What is a transaction audit under the IBC?
An examination of the company’s past transactions to identify those the law allows the resolution professional to challenge: preferential, undervalued, extortionate and fraudulent or wrongful trading.
03Who appoints you?
Lenders and consortia for forensic audits, and resolution professionals or liquidators for transaction audits, often with the committee of creditors’ approval.
04Can you help recover the money?
Our findings identify where funds went and which assets may be available. We then trace those assets to support recovery and enforcement.
Proof
Case files from this service
Real matters, anonymised. Client names, places and identifying details are withheld.
₹120–150 Crlender exposure reviewed
Stock That Existed Only on Paper
A borrower inflated stock statements and booked circular sales among related firms to draw working capital, then moved the money into promoter property.
- Stock reconciliation
- Related-party and circular-trade analysis
- End-use of funds
- Corporate records and OSINT
₹3–5 Crbid de-risked before any money moved
Real Auction, Unverified Middleman
Before paying a deposit on a distressed property, a bidder asked us to check the auction, the account and the person who brought the deal.
- Insolvency and corporate records
- Process document review
- Account validation
- Background check on the intermediary
Client names and identifying details are withheld to protect confidentiality. Specific references and client experiences can be shared on request, with the client’s consent.
Talk to us first
Not sure what you need? Ask us.
Initial guidance is free and confidential. Tell us what has happened, and a senior member of our team will help you decide the right next step, even if that step is not an engagement.
Confidential consultation
Discuss your matter with a senior expert.
Tell us what has happened. We will listen, advise on immediate next steps, and propose a scope, in strict confidence.