Why a documented checklist beats an ad hoc process
Most businesses have some notion of "we check new vendors" or "we verify new corporate customers," but without a documented checklist, what actually gets checked varies by whoever happens to be handling the onboarding. A written checklist — even a short one — means every business relationship gets the same baseline scrutiny, and higher-risk ones get more.
The core business verification checklist
1. Company / CIN verification
Confirm the company is registered and in good standing. A CIN check returns the registration status, incorporation date and current status — the first thing to check before anything else.
How to check a company's registration, step by step:
- Get the 21-character CIN from the company's letterhead, invoice or website (LLPs have an LLPIN). If you only have the company's PAN, PAN to CIN finds the CIN.
- Run a company verification. It returns the company master data (what to look for is in the table below).
- Save the report with the vendor or customer record.
| Field | What to look for |
|---|---|
| Legal name | Matches the name on the contract, GST registration and bank account |
| Status | Active. Strike off, under liquidation or dormant are red flags for a new vendor |
| Date of incorporation | A company formed weeks ago asking for a large advance deserves more checks |
| Authorised and paid-up capital | Very low paid-up capital for a large contract is worth a question |
| Registered office | Matches the address you were given, or the difference is explained |
| Last AGM and balance-sheet date | Years without filings suggest a company that is not really operating |
2. GST verification
Confirm the GSTIN is active and matches the business name on your contract or invoice. GST verification is fast, and catches both registration mismatches and lapsed registrations.
3. ROC director search
Know who actually runs the company. ROC director search identifies the company's directors and their DIN — useful both for due diligence and for confirming the person you're dealing with actually has authority to act for the business.
4. MCA document download
For a closer look at a company's filings — incorporation documents, annual returns — MCA Docs Download retrieves them as filed.
5. Udyam registration (where relevant)
If the business claims MSME status for pricing, credit or regulatory purposes, Udyam verification confirms the registration is genuine.
6. Business legal verification
For larger or higher-risk relationships, business legal verification surfaces litigation or court records tied to the entity — the kind of risk a registration check alone won't show.
7. AML / adverse media screening (for regulated or higher-risk onboarding)
Where the relationship warrants it — a financial services customer, a higher-value vendor — sanctions/PEP screening and adverse media checks add a risk layer beyond registration status.
A checklist calibrated to relationship risk
| Relationship type | Recommended checks |
|---|---|
| Small, one-off vendor | Company + GST verification |
| Ongoing operational vendor | + ROC director search |
| Strategic vendor or significant credit exposure | + Business legal verification |
| Regulated or high-risk onboarding | + AML / adverse media screening |
| MSME claiming Udyam-linked benefits | + Udyam verification |
Common mistakes to avoid
Treating a business card or letterhead as proof. None of the details a business presents about itself are verified until you check them against live records.
Skipping the director check for corporate customers. Confirming the company exists doesn't confirm the person signing on its behalf has the authority to do so — that's what director search is for.
Running the same checklist regardless of size. A short checklist consistently applied beats a long one nobody has time to run — calibrate depth to actual risk, as in the table above.
Verifying the company but not the bank account. A real, active company can still be paid into the wrong account after a "change of bank details" email. Verify the vendor's bank account before the first payment and after every change.
Checking once and considering it done forever. A company's status, GST registration or legal history can change after onboarding. For ongoing relationships, a periodic re-check — especially before renewals or larger commitments — is worth building in.
Putting the checklist into practice
VerifyAll runs every check in this list — company, GST, director search, MCA documents, Udyam, legal and AML — from one dashboard, so a full KYB sequence doesn't mean five different tools. For a closer look at running this at the vendor level specifically, see our guide on verifying vendors and partners before onboarding, or for a batch of businesses at once, bulk verification. Talk to our team about setting up a standardised business verification checklist for your onboarding process.