Common questions about DiligenceReady.
Plain answers for MSME founders and for the CAs, CS professionals and lawyers who work with them. If yours is not here, ask us.
Questions
Questions we get asked
What is DiligenceReady, in one line?
It is a workspace that lists every document an investor, buyer or lender will ask an Indian MSME for, tracks which ones you have, and lets your own CA or CS review and clear them before the deal starts.
Do you hold our documents?
No. Files are written to your company's own Google Drive, into folders this app creates, under a permission that cannot reach the rest of your account. We do not keep a copy. If you disconnect, the documents stay with you.
Who can see what we upload?
Only people you invite to your company's workspace. There is no shared pool, no default access, and a reviewer invited by one company cannot see anything belonging to another. We do not open your documents and we do not share them with anyone.
Can the CA we invite download our files?
No. An invited reviewer reads the document inside the app. There is no download route for that role, and every time a document is opened it is recorded against their name.
We already have a CA. Does that work?
That is exactly the intended path. You invite the professional you already trust by email. They create an account and see only your company. We do not assign anyone to you.
Is the readiness check really free?
Yes. It needs no account, no card and no documents. You answer a short set of questions, then leave your name, company, WhatsApp number and email, and you see your readiness percentage with the gaps named. The full report comes by email, and we may follow up on WhatsApp about it. Create a free account after that and you will see the first items of your own checklist. The check stays free.
What does the workspace cost?
We are not publishing a price yet. The workspace is in early access and we are taking on companies one at a time, so we would rather talk to you, understand the shape of your company, and tell you a figure that is right for it. Write to us and you will get an answer, not a waitlist.
What file types can be reviewed?
PDF and images open directly. Word and Excel files are converted to a readable preview on the server, so your reviewer does not need the original software to read them.
Questions
About due diligence
What is due diligence?
Due diligence is the counterparty checking that your company is what you say it is before they invest, lend to it or buy it. An investor, a bank or a buyer asks for documents, reads them, asks questions and writes down what they found, and that decides whether the deal goes ahead and on what terms.
Who does due diligence on an Indian MSME?
Usually the counterparty's lawyers, for legal diligence, and a CA firm, for financial and tax diligence, sometimes with a specialist for technology or operations. On your side, your CA answers for accounts and tax, your CS for company law filings and registers, and your lawyer for contracts and disputes.
How long does due diligence take?
There is no fixed timeline. An equity round or a business loan often runs four to eight weeks from the request list to closing, and an acquisition longer. The biggest variable is how long you take to find documents and answer questions.
What does a bank check that an investor does not?
An investor asks whether the company will grow. A bank asks whether it will repay, and what it can recover if it does not, so it leans on cash flow, existing debt, credit history and security, and its checks continue after the loan is sanctioned.
When should we start preparing?
Before anyone asks. What goes wrong in diligence is usually in records kept over years, such as ROC filings made late, share allotments that were never papered and GST returns that do not reconcile, and those take longer to fix than a deal allows.