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Don’t Let Your Deal Die in
Due Diligence.

Ex–commercial credit operations head at Indiabulls. I help Indian founders turn messy operations, filings and cap tables into bankable, DD-ready structures for ₹1–10 Cr raises.

Viability over valuation. Structure over story.

Due Diligence at Investor meet

“Audit Reality” – The Problem

Investors aren’t buying vision. They Are "Auditing" Reality.

Business Data Analysis.jpg

The funding market has changed. A great pitch deck might get you a meeting. But only structural hygiene gets you a cheque.

Serious investors and lenders don’t just judge your story – they run a mental Probability of Default (PD) on your business. They cross-check your deck against your MCA filings, GST returns, bank statements and contracts.

When those don’t line up, deals die quietly in “internal discussion” – or loudly during due diligence.

The three deal killers we see again and again.

01.

Cap table & shareholding hygiene

Dead equity from phantom co-founders or informal promises, plus confused ESOPs without clear schemes, making future rounds mathematically impossible or very painful to structure.

02.

Financial governance

Unit economics in the deck that do not match the P&L, obvious GSTR-1 vs 3B mismatches, or bank statements that contradict claimed revenues—signalling weak financial controls.

03.

Regulatory landmines - Compliance & risk

DPDP consent gaps, missed FEMA/FDI filings (like FC-GPR), or MCA inconsistencies in INC-20A / AOC-4, triggering fast “No” decisions from serious risk teams.

If your narrative says “unicorn” but your backend says “liability”, you don’t just lose the deal—you burn reputation.

The Solution – “Your Pre-Investment Credit Committee”

We act like a pre-investment credit committee—on your side.

Guruvion audits your business the way a serious investor or lender will – ruthlessly and dispassionately – before they ever see it.

 

We don’t start by polishing your pitch. We fix the structure underneath the story so your narrative, numbers and documents line up.

What We’ve Actually Done (Anonymised)​

Because of the nature of the work, we don’t publish client names or logos. But here is the kind of work we actually do, week after week:

Case 1 – MCA & GST Mis-Match Before a Seed Round
A B2B SaaS founder was pitching ₹4 Cr at Seed with strong topline claims. Our Red Flag Scan found:
• GST returns showing ~18% lower revenue than the pitch deck
• INC-20A filed late and one year’s AOC-4 missing
• Cap table Excel not matching MCA filings

We worked with their CA and CS to:
• Clean up MCA filings and update master data
• Build a simple reconciliation working between GST, P&L and deck numbers
• Document the late filing and variances in a short disclosure note

Impact: The founder went into investor DD with a clear, documented explanation instead of being “caught out” in the room. Internally, they now had a repeatable reconciliation working they could refresh every quarter.

Ongoing reality: The business still had to grow into its projections. Governance was cleaner, not magically “perfect” — but it was no longer the reason a DD team would walk away.

Case 2 – Cap Table & ESOP Clean-Up Before a Bridge
A fintech company was raising a small bridge from existing angels and a new micro-VC. Our Sprint uncovered:
• Multiple informal equity promises to early team and advisors
• ESOP pool not properly documented or reflected in any SHA
• 40+ tiny shareholders making consents slow and painful

We helped them:
• Translate informal promises into either proper ESOP grants or cash bonuses
• Rebuild the fully-diluted cap table so it actually summed to 100%
• Prepare an “as-is” note for the new investor with a forward clean-up plan

Impact: Instead of redoing the round at the term-sheet stage, the bridge could move forward on a shared understanding of dilution and clean-up steps. Investor DD time was reduced because questions were answered up front in writing, not reactively over multiple calls.

Ongoing reality: The cap table was still slightly “crowded” and would need further simplification before a large institutional round. The key change was that this was acknowledged, planned and priced in, not hidden.

Case 3 – DD-Ready Pack for a Traditional Lender
A logistics startup with real revenues wanted working capital from a bank instead of more equity. We:
• Rebuilt their monthly P&L to match GST and bank flows
• Prepared a lender-style Credit Note translating GMV/MRR to DSCR and coverage ratios
• Helped them organise a basic data room for the bank’s DD team

Impact: The founder’s proposal moved from “startup-style pitch deck” to a banker-friendly file, cutting back-and-forth clarification time and making it easier for the internal credit team to process. The bank still applied its own filters, but the file no longer looked like a first-time attempt.

Ongoing reality: Sanction was entirely the bank’s call, based on its own risk appetite and sector view. Our work did not “guarantee” approval — it reduced avoidable friction and made the founder’s case easier to underwrite.

01.

Diagnostic:

We tear down your MCA, GST, cap table and basic unit economics to map real risk – not just perceived risk.

02.

Alignment:

We rebuild your financial narrative and data room so that deck, model, filings and bank statements all tell the same story.

03.

Defence:

We run mock DD and “bad cop” investor sessions so you can sit across from risk and credit teams with calm, clean answers.

Top DD Red Flags We Fix

The things that quietly kill deals long before “no” is spoken:

01.

MCA / RoC Gaps

Missing or delayed INC-20A, inconsistent AOC-4 / MGT-7/7A, unresolved director or charge issues.

02.

GST & Tax Integrity

GSTR-1 vs GSTR-3B vs P&L mismatches; revenue that doesn’t reconcile across systems.

03.

FEMA / FDI Hygiene

Missed or late FC-GPR, FIRC/KYC issues, confusing foreign round structures.

04.

Cap Table & ESOP

Phantom co-founders, informal equity promises, unclear ESOP schemes and documentation.

05.

Related Party Leaks

Founder-family loans, related party contracts and “soft leakages” that investors hate.

06.

Data Privacy & DPDP Basics

No clear consent architecture, no realistic privacy policy, unclear data flows and access.

Who We Work With / Who We Don’t

Who Guruvion Is (And Isn’t) For

Best Fit:

  • Indian founders with real revenue or pilots

  • Raising roughly ₹1–10 Cr (equity or structured capital)

  • Ops-heavy, regulated or B2B businesses: fintech, proptech, logistics, supply chain, B2B SaaS

For example: helped a Gurgaon-based B2B SaaS startup clean up FDI documentation, align GST with P&L, and close a mid-seven-figure round without last-minute DD surprises. (Client details confidential).

Not a Fit:

  • Pure idea-stage, pre-MVP

  • “Deck-only” fundraises with no traction

  • Crypto, speculative schemes, or “get rich quick” products

  • Anyone looking for “equity-only” deals or stock tips

We would not be able to service the companies in above categories.


 

Services Snapshot

Clear, Fixed-Scope Products. No Vague Consulting.

Red Flag Scan – 72-Hour Sanity Check

Rapid diagnostic before you start serious investor outreach.

Investor & DD-Ready Sprint – 4–6 Week Flagship

From “promising” to “investible” with a cleaned-up data room, financial model and story.

Corporate–Research Bridge (Deep Tech)

Commercialising deep science between corporates and leading Indian engineering and research institutes.

Debt & Working Capital Strategy (Add-On)

Translating startup metrics into bankable credit ratios and credit memos for lenders.

Fractional Capital Partner (Retainer)

For Sprint alumni only – ongoing capital and due-diligence support.

Regulatory Guides & DD Playbooks for Indian Founders

Clear, Fixed-Scope Products. No Vague Consulting.

Insights & Resources

  • How to Structure Your Data Room for Investor & Lender Due Diligence

  • DPDP Act 2023 for Startups: Practical Compliance Basics

  • INC-20A & Post-Incorporation Hygiene

  • FC-GPR, FDI & How Investors View It

  • SEBI Investment Adviser Regulations: What Guruvion Does (and Never Does)

Let’s Audit Your Readiness

Guruvion – due diligence and governance advisory for Indian founders

Phone
+91 8368996538

Email
team@guruvion.com

Address
512, Ocus Quantum,Ocus Quantum Internal Rd, Sector 51,
Gurugram, Haryana 122018, India

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Nothing on this site is investment, tax or legal advice. It is operational and educational guidance for founders. Please read the Disclaimer and Terms & Conditions before acting on anything here.

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