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KUNTAL DAVE

Partner

PROFILE

Presently Proprietor of Nanubhai Desai & Co, Chartered Accountants (the Firm is based at Mumbai, India, set up in 1950). He has over 22 years of experience in the matters of Corporate Finance, advising clients on tax, attestation, foreign exchange and valuation matters. Actively involved in assisting and advising clients on various aspects of cross border transactions affecting international tax, commercial laws and regulatory compliances. Authored budget publications for circulation amongst business houses. Also, co-authored a book providing detailed analysis on Black Money (Undisclosed Foreign Income & Assets) & Imposition of Tax Act, 2015. Has presented various articles, papers, case studies, etc. on the subjects of International Tax for various professional magazines, publications, forums (including at IFA Mauritius, IFA USA & IFA India), etc.. He is a member of Executive committee of International Fiscal Association,Netherlands. Ex-Chairman of the Young IFA Network, International Fiscal Association,Netherlands. Currently, the Vice Chairman of Western Region Chapter of International Fiscal Association,India Branch and member of Direct Taxation Committee of Indian Merchants Chamber.

POSITIONS:

Bachelor of Commerce, University of Bombay, India Fellow Member of The Institute of Chartered Accountants in India (ICAI) Member of Indian Institute of Insolvency Professionals of ICAI & Registered with Insolvency and Bankruptcy Board of India.Certificate course of University of Bombay, India on “Business Consultancy Studies Programme” conducted by Jamnalal Bajaj Institute of Management Studies, Mumbai jointly in collaboration with Bombay Chartered Accountants’ Society, Mumbai

MEMBERSHIPS:

Member of the Executive Committee, International Fiscal Association, Netherlands Ex-Chairman of the Young IFA Network, International Fiscal Association, Netherlands Vice Chairman – Western Region Chapter of International Fiscal Association – India Branch Member of Executive Committee of International Fiscal Association – India Branch Member of Direct Taxation Committee of Indian Merchant Chamber

WORK EXPERIENCE:

Presently Proprietor of Nanubhai Desai & Co, a firm of Chartered Accountants of repute at Mumbai, India. Firm is in existence for over last 60 years.

CONCEPTUALIZING AND IMPLEMENTATION – TRANSACTIONS AS WELL AS ENTITIES:

Extensively advised clients on various economic transactions.Advising clients on concluding joint venture agreements/ Foreign Collaboration Agreements. Advising clients on concluding the legal entity for the purposes of business objectives – Namely LLP, Company, Partnership firm, etc. Has gained tremendous experience in the matters of Corporate Finance and affiliated services that formulate a structure to suit the client needs and requirements, followed by implementation of such approved structures.

ADVISING FOR EFFECTIVE COMPLIANCE OF VARIOUS STATUES (VIZ INCOME TAX ACT, COMPANIES ACT, FEMA, SEBI):

Identifying statutory legal obligations for the client on executing or undertaking various transactions. Assisting clients in developing and executing sound processes and systems to enable effective and timely compliance of various statutory legal obligations. Undertaking in-depth review of areas and transactions as maybe desired by the management for effective compliance of statutory obligations. Assisting clients in securing necessary opinion from the senior counsel for ensuring adequate compliance of statutory legal obligations.

ASSISTING CORPORATES ON CORPORATE DEBT RESTRUCTURING EXERCISE:

Assisting clients in undertaking review of financial statements. Assisting in preparing financial plans. Assisting in representing financial plans before the consortium members.

VALUATION EXERCISE: ATTESTATION & ADVISE ON FINANCIAL STATEMENTS:

Valuation of Companies for the purposes of acquisition. Valuation of Unit for the purpose of demerger. Valuation for various economic transactions

ATTESTATION & ADVISE ON FINANCIAL STATEMENTS:

Advising on compliance with various authoritative pronouncements concerning maintenance of financial statements & requisite disclosure norms Advising on impact and applicability of accounting standards and GAAP Reviewing and advising on the implementation and improvement of efficient and sound SOPs Performing attestation services as required under the law Advising on matters connected to furnishing financial statements & its analysis/extracts for the consideration by the members of Audit Committee Review of financial statements of the Company to identify and analyze the performance as well as of the key parameters of the company for the reporting period

UNDERTAKING TAX AND REGULATORY DUE DILIGENCE FOR MERGERS, ACQUISITIONS, CORPORATE FINANCE:

Carrying out complicated tax and regulatory due diligence exercise and providing diagnostic support services to the clients. Advising the clients to enable them to generate maximum returns on their investments with the use and formulation of legally enforceable structure. Advising the management on risks and challenges associated with proposed mergers, acquisitions, etc. Strategizing on the proposed corporate action for achieving efficient results of the corporate action. Advising on potential tax and other statutory liability associated with the target company for historical compliances by the target company. Also advising on the impact of the same on the transaction value. Preparing Information Memorandum and advising on various matters connected to commercial and economic feasibility of proposed corporate action.

ADVISING FOR LIQUIDATION PROCESS:

Advising on various statutory obligations of the company and the liquidator. Assisting the management on drafting various documents necessary for effective compliance of various statutes. Assisting company is securing necessary certificate from the tax department.

ADVISING LIQUIDATOR ON VARIOUS MATTERS CONNECTED TO COMPLIANCES OF THE STATUTORY PROVISIONS.

Independent review (audit) of a company’s financial statements. Representation before audit committee appointed by the Board of Directors. Assisting Board of Directors on various matters concerning cash flow management, budget and forecast, system review and implementation, etc. Has presented various papers and lead various study circles and study groups at various professional forums (like ICAI, IFA India, IFA Mauritius, IFA USA, FIT, BCAS, Chambers of Income Tax Consultants, BCCI, IMC, Boston University, etc.) formed to discuss and debate on various subjects of tax and finance. Has authored budget publications for circulation among business houses. Has co-authored book providing detailed analysis on Black Money (Undisclosed Foreign Income & Assets) & Imposition of Tax Act, 2015.