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We present initial results from our program of near infrared spectroscopy of close binary pre-main sequence stars. This study concentrates on the so-called Infrared Companions (IRC). These objects have colour temperatures lower than any known star ($< 1500$~K), yet are frequently more luminous than their visible primaries. Matter accreting onto the companion or perhaps a circumstellar disk is one possible explanation for the large infrared emission from IRC's. By spatially separating the primary and companion, the spectra allow us to search for signatures of accretion shocks and disks, for example molecular hydrogen and CO emission in the K band (2.0--2.4~$\mu$m). We show and discuss the spectra of several IRC systems, including T~Tau, Haro~6--10, and UY~Aur.
