Case Studies

• Building Finance, Accounting and Taxation Functions on BOT basis: Taking care of the finance and accounting function on outsourced basis, with clear KPIs set and then transitioning them into internal team on on-boarding internal leadership.
• Factory Due Diligence at the time of takeover: Conducted a thorough due diligence of the factory takeover by the in-house valuers, legal professionals and consultants resulting in significant international board-level insights into the factory set up, giving a complete clarity on the Indian operations.
• India Entry Support: Setting up factory related processes and property/ plant / labor related approvals such as Pollution Control Board, DTCP, Factory license, Fire license, Health Department, Petrol and Explosives etc.
• Tax Refunds: Assisted in securing refunds exceeding USD 10 Millions.
• Labour Settlements: Managed all aspects of settlements to outgoing labor.
• Payroll Management: Managed the Expat and Domestic Payroll processes.
• Financial Services: Valuation of Shares, Plant & Machinery and Land & Buildings for impairment testing, Issue of shares, Global Mergers and India level Managers.
• Handling Tax and Labour law Litigations: Representing the Group before the Tax Authorities in relation to its assessments and tax & labor law litigations.
• IND-AS / IFRS Transition: Assisting the group in the year end audit closures and guiding the internal teams to move into IFRS Accounting Regime from Domestic Accounting regime.
• Secretarial Solutions: The Group’s transfers of Register Office and other key Compliances as per the Companies regulations are advised by Shreyas.

• Government Representation: Represented the client before the Directorate General of Foreign Trade (DGFT) to secure approximately USD 4 million in benefits that had been pending for about nine years. This achievement was unprecedented in India and the first of its kind approval by the Government of India
• Policy Advocacy: Played a pivotal role in obtaining landmark special drawback claims of around USD 4 million by making a relaxation before the Board of Customs and Indirect Taxes.
• Customs Litigations: Representing the Company before the authorities and assistance in Courts / Tribunals litigations, especially in the context of Customs Tariff Disputes.

Finance Function Outsourcing

Initially approached for outsourcing their finance function. The relationship expanded to include:

• Workshop Location Identification: Assisted in finding a strategically located workshop based on customer proximity
• Legal Advisory: Provided guidance on property leasing agreements.
• Due Diligence: Conducted checks on property compliance.
• Long-Term Contract Securing: Facilitated securing long-term contracts with partners.
• Cross-Border Transaction Structuring: Managed transactions from perspectives of Customs, Transfer Pricing, Foreign Exchange Regulations, Indian GST, and Income Tax.
• Vendor Contract Streamlining
• Funding Assistance: Helped secure machinery funding for the workshop and working capital for operations.
• Process and Systems Setup: Implemented internal processes and systems to support growing business volumes.
• MIS and Financial Planning: Developed MIS, cash flow forecasts, and management information for effective fund planning.

• First-Time Bonded License: Successfully obtained for the client.
• Liquidated GST Refunds: Assisted in securing refunds of about USD 10 Million
• Cleared GST Detentions: Helped resolve detentions related to GST.
• Ineligible Credit Refunds for Exports: Secured refunds for ineligible credits.
• SIPCOT Incentives: Assisted in obtaining these incentives.
• Fixed Asset Capitalization Audits: Conducted audits to ensure proper capitalization of fixed assets.

GST and Income Tax Support:

• GST Matters: Provided comprehensive support.
• Assessment Support: Assisted with assessments.
• Writ Petitions: Filed writ petitions against GST orders.
• Income Tax Writ Petition: Filed a writ petition related to income tax.

Key Involvements:

• Due Diligence: Conducted during the increase of stakes.
• GST Refunds: Assisted in securing refunds.
• Tax Representations: Presented cases before the High Court on transfer pricing matters.

Comprehensive Support Provided:

• Finance Process Streamlining: Optimized financial processes.
• Documentation: Managed necessary documentation.
• GST Refunds: Assisted in securing refunds.
• Income Tax Solutions: Addressed income tax issues with solutions.
• EXIM Solutions: Provided support for export and import matters.
• Banking Structuring Discussions: Facilitated discussions to structure banking arrangements.
• Writ Petition: Filed a writ petition related to a contractual dispute on Bank Guarantee (BG) invocation with a government customer.
• Audit Support and Closure: Offered support during audits and managed their closure.

Business Takeover and Financial Management Support:

• Structuring: Managed the structuring of the business takeover.
• Valuation: Conducted valuation studies.
• Tax & GST Implications: Studied and documented corporate tax and GST implications of the takeover.
• Finance Process Setup: Established finance processes for the acquiring entity.
• Payroll Management: Handled payroll responsibilities.
• Audit Closures: Managed audit closures and handed over stabilized accounting to the internal team.
• Ongoing Review Support: Provided continued support for ongoing reviews.
• MIS Automation: Automated monthly MIS and dashboards using tech solutions.
• Financial Insights: Offered valuable financial insights.

Humongous Data Management:

• Automated Tool: Developed and implemented an automated tool to manage and process large volumes of data efficiently, streamlining operations and enhancing data accuracy.