Protecting Businesses from Fraud: InstaFinancials Highlights Struck-Off Entities

InstaFinancials Highlights the Importance of Enhanced Due Diligence to Prevent Corporate Fraud and Financial Losses

BENGALURU, Karnataka - InstaFinancials, a leading provider of corporate intelligence and business risk analysis solutions in India, has just launched an improved service to verify struck-off companies. This new feature is designed to help businesses identify and avoid financial risks associated with struck-off entities, filling an important need in India's corporate due diligence landscape.

Growing Concern Over Struck-Off Companies
MCA's Corporate Data Management portal shows that 3.61% of all registered companies are in the process of strike-off or liquidation. As of January 31, 2024, there are 1,665,438 active companies out of a total of 2,628,865 registered, which is around 63%. This represents a significant number of entities that pose potential financial risks to unsuspecting businesses and investors.

Struck-off companies can be a big problem in business deals. Many businesses unknowingly engage with these entities, leading to financial losses, compliance issues, and reputational damage.

Addressing Critical Business Risks
The service is particularly valuable for financial institutions, NBFCs, manufacturing companies, and IT firms that need to conduct thorough due diligence before establishing business relationships. InstaFinancials has a solid database with information on more than 2.7 million Indian companies, including OPCs, LLPs, private and public limited companies.

"Our service for checking struck-off companies is all about helping businesses get the information they need. We want our clients to make smart decisions, and we help our clients make informed decisions and protect their interests." - said by Mr. Razi M, CEO & Founder of Instafinancial.

Better Financial Risk Management
Beyond struck-off status verification, InstaFinancials offers advanced business risk analysis tools, including financial health assessments, litigation tracking, and compliance monitoring. The platform's advanced analytics help businesses identify potential red flags, including profit manipulation, window dressing, and other financial irregularities.

The company's risk scoring system analyses several factors to give you a clear picture of your business partners, suppliers, and customers, making it easier to manage risks before they become issues.

Market Impact and Availability
InstaFinancials' struck-off company verification service is available immediately through the company's website at www.instafinancials.com. The service operates on a cost-effective pricing model, with bulk searches available from ₹1-5 per company and annual Company Status Alerts subscriptions ranging from ₹10-50 per company per year.

For businesses requiring custom solutions or bulk verification services, InstaFinancials has discounts for bulk orders and special rates for partners who want to provide this service to their clients.

About InstaFinancials
InstaFinancials is a leading name in India for corporate intelligence and business risk analysis. We maintain a vast database covering over 2.7 million Indian companies, more than 3 million directors, around 15 million GST numbers, and 62 million MSMEs. Our platform empowers businesses, banks, and professionals to make smarter decisions with reliable, up-to-date corporate information.

Media Contact: InstaFinancials Email: Sales@InstaFinancials.com Phone: +91 07879776776

434, Ground Floor, 6th B Main Rd, HRBR Layout 2nd Block, Chelekare, Kalyan Nagar, Bengaluru, Karnataka 560043

Founded in 2016 and headquartered in Bengaluru, India, InstaFinancials is a B2B corporate intelligence platform incubated by SAP Labs and accelerated by Axis Bank. It aggregates and analyzes public financial, legal, director, ownership, compliance, credit‐rating and GST data on over 27 lakh Indian companies to help businesses assess credit risk, onboard customers, build sales pipelines, and monitor competitors. Founders include Raji M, Rajesh Anand and Uday Khemka.

This release was published on openPR.