From invoice to enforcement.
Unlock Cashflow, Unlock Opportunities.
Kenstone Capital manages, recovers and enforces business receivables in India — B2B debt collection across the whole curve, for medium and large businesses and for the world's suppliers.
Kenstone Capital Debt Consulting Private Limited — a registered company, Bengaluru practice, working across India
Manufacturing, distribution, services, infrastructure — receivables across sectors
Published debtor charter — lawful, documented, firm
What you can check for yourself
2019
Incorporated 6 June 2019
Kenstone Capital Debt Consulting Private Limited · CIN U67200KA2019PTC124970 · ROC Bangalore
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Banks and financial institutions have empanelled us
9 public sector banks, 7 private sector banks, 5 non-banking finance companies, 4 housing finance companies, 4 co-operative banks and societies, a regional rural bank and an asset reconstruction company · each through the lender's own due diligence · for lenders
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In-house platforms
DSO programme, collection management and case management — one file per account
Every forum
From demand notice to NCLT
Section 138, commercial suit, Order 37, arbitration and mediation, Section 9 IBC, MSEFC
Published
Debtor communication charter
Nine public commitments on how we speak to the businesses that owe you money — read it
Written
Approval before anything is filed
Recommendation with route, cost band and likely time first; your signature second
We publish a figure only when it can be stated from engagement records, the register or a certificate. Recovery totals, client counts and team size will appear here as each is evidenced — not before.
Where are you on the curve?
Receivables problems arrive at different points. Start where you are; the rest of the firm is already behind that door.
Receivables are slipping and nobody owns the number.
Reduce DSO. Protect your margins.
The DSO Reduction Programme: an ageing diagnostic, debtor scoring, an escalation ladder your team actually runs, and a contract clause that moves the accounts that resist into recovery without a new engagement.
Manage the curveAn account has gone bad and follow-ups have stopped working.
Recover dues. Keep the relationship.
Third-party B2B recovery run by practitioners who understand Indian debtor behaviour, documented at every step so that if it has to escalate, the file is already built.
Recover what's owedYou're outside India and an Indian buyer isn't paying.
Debt collection in India for international suppliers
Our point of view
The industry is split in two, and the money falls through the gap.
Collection agencies arrive after the money is gone. By then the relationship is damaged, the documentation is thin, and the debtor has learned that nothing happens when they don't pay.
Receivables software arrives too early to matter. It reminds, it dashboards, it scores — and when a debtor simply ignores it, it has nothing further to say.
Kenstone Capital works across the whole curve. We manage receivables while they are still healthy, recover them when they turn, and enforce when a debtor leaves no other route — one firm, one file, one escalation ladder that every debtor knows is real. That is what "from invoice to enforcement" means in practice. Your DSO comes down, and your customer relationships stay intact.
Three stages. One firm.
Each stage is a complete service on its own. Together they are the reason escalation is a clause in your contract, not a new sale.
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Manage
DSO Reduction Programme · for corporates with distributed receivables
We diagnose why cash is slow, score every debtor on behaviour rather than balance, and install an escalation ladder with named owners and real consequences. Accounts that resist the process move to recovery already documented.
The DSO Reduction Programme2
Collect
B2B debt recovery · for stuck receivables and aged portfolios
Practitioner-led recovery: negotiation grounded in a diagnostic of why the debtor stopped paying, field presence where it matters, and a communication standard that protects your name while making the consequence of non-payment unmistakable.
How recovery works3
Enforce
Legal escalation · demand notice, Section 9 IBC, recovery suit
When a debtor leaves no other route, the file we have already built becomes the petition. Demand notices, operational-creditor proceedings under the Insolvency and Bankruptcy Code, and civil recovery — advised honestly, including when not to.
Enforcement in IndiaWhat is your DSO worth in cash?
Enter your revenue and receivables, and the calculator shows the cash that each day of days sales outstanding keeps locked up.
Documented cases
Every case on this site comes from engagement records, is published with the client's written consent, and names the practitioner who ran it. Where a client asks, we withhold their identity and keep the figures.
Cases are published only when the engagement is documented and the client has consented in writing. We do not publish success rates we cannot evidence.
The practitioners on your file
Every account has a named practitioner, and these are the people accountable for the firm's work.
Shraddha Rathod
Head of B2B Collections
B.Com, LL.B, and a Postgraduate Diploma in Cyber Law and Forensics from NLSIU, Bengaluru. Reviews our recovery and enforcement pages and writes the legal guides.
Swapnil Shetty
Director of Operations
A director since the company's incorporation in 2019. Runs the operational side of the firm's recovery work and writes the receivables guides.
Nikhil Shetty
Director – Growth
A director since the company's incorporation in 2019. Leads client relationships and the firm's growth.
Who we work with
Medium and large businesses
Finance heads with receivables spread across hundreds of buyers, or with a handful of large accounts that have stopped paying. Both enter at different points on the curve.
International suppliers to India
Exporters and service providers owed money by Indian companies, and the trade credit insurers, collection networks and chambers that refer them. We are their recovery partner on the ground.
Across sectors
Manufacturing and industrial supply, distribution and trading, professional and technology services, infrastructure and EPC — each with its own receivables pattern, dispute habits and enforcement route. Industries we serve
Insights
How receivables, recovery and enforcement actually work in India, written by the people who do it.
Enforcement in India
Section 9 of the IBC: the operational creditor's route when an Indian company won't pay
What the petition does to a corporate debtor, why it changes negotiations, and when we advise against filing it.
Guide · Shraddha Rathod
Receivables practice
Days sales outstanding: what the number measures, what it hides, and how to bring it down
DSO is the most quoted and least understood metric in credit. A working guide with the calculation, the traps and the levers.
Guide · Swapnil Shetty
Recovery practice
How B2B debt collection actually works in India
From the first reminder to the last resort: the stages, the timelines, what debtors do at each one, and what should happen next.
Guide · Shraddha Rathod
How we're different
Full-stack
Manage, collect and enforce in one firm, on one file. Escalation is a contract clause, not a new engagement, and a debtor who has met our process knows the next step is real.
Automated and accountable
Process automation at every stage of the receivables lifecycle — scoring, sequencing, reporting — with a named practitioner accountable for every account. Software reminds; people recover.
India's recovery partner for the world's suppliers
On-the-ground enforcement depth — demand notices, Section 9 IBC, recovery suits — is what a foreign creditor cannot get from a network desk in another country.
Professional
Debtors are treated as counterparties, not targets. Our communication standard is published, lawful and firm, because your name is on every conversation we have.
Questions finance heads ask us
How much does B2B debt collection cost in India?
It depends on the stage. Collection is charged as a success fee: a percentage of the value actually received, including payments the debtor makes to you directly. The percentage depends mainly on how old the debt is and how well it is documented. Receivables management is a seat-based monthly fee. Legal enforcement is priced case by case in three separate lines: our route fee, the advocate's fee and court fees. We quote after reviewing the claim.
Can a foreign supplier recover money from an Indian company?
Yes. A foreign supplier has the same remedies against an Indian company as a domestic creditor: a demand notice, negotiation, and if needed a petition under Section 9 of the Insolvency and Bankruptcy Code or a civil recovery suit. Claims that settle usually do so after the demand notice, once the debtor can see the next step is real.
What is the minimum claim for a Section 9 IBC petition?
A default of ₹1 crore or more, the threshold set on 24 March 2020. The petition also fails if the debtor shows a genuine dispute that existed before the demand notice, so Section 9 suits a large, undisputed debt. We use it as a legal remedy, never as a threat.
How long does B2B debt recovery take?
There is no fixed timeline, and no honest agency guarantees one. Claims that settle usually do so in the weeks after a demand notice. Enforcement through tribunals or courts takes months or longer, which is why we assess the case before recommending it and keep settlement open in parallel.
Does Kenstone Capital collect the money on our behalf?
No. Debtors pay you directly. Kenstone Capital never receives, holds or pools money recovered for clients.
Is Kenstone Capital a law firm?
No. Legal proceedings are conducted by independent advocates engaged by you. Our empanelled law firm is TrueNorth Legal Partners, which is associated with the Kenstone group; you are free to instruct an advocate of your own choice instead. Kenstone Capital does not share in any advocate's fees.
More answers: B2B debt collection FAQs · debt collection in India for foreign suppliers · Section 9 of the IBC
Discuss your receivables
Tell us where you are on the curve. A practitioner — not a sales desk — reads every enquiry and replies within one working day.