Page no Names Business involved in

(Industry)
7 to 15 Amiysam Ltd., Visam (P) Ltd. (VPL), Mr. Divarkar, Chemical Manufacturing Company,
Mr. Devraj, Mr. Digpal, Mr. Praveen, Rao & Co. Company Secretary, Managing
Director, CFO, Audit Engagement
Partner, Chartered Accountants

16to 24 M4 Home Private Limited , NOIDA ,New Construction

DelhiSouth Korea Textile Manufacturing
Mundra port Import/Export
Gujarat Digital Marketing
USA
Chinese
Uttar Pradesh

25 to 32 M/s Parv Fabrics Partnership firm

Mr. Parth Textile manufacturing companies
Mr. Aarav (Costa Industries Pvt. Ltd. and Zosta
Costa Industries Pvt. Ltd. Industries Pvt. Ltd.)
Zosta Industries Pvt. Ltd.

33 to 37 Dalmia & Associates Practising CA firm

Eastern Bank of India Public sector bank
M/s Poriborton Industries Borrower/company (M/s
Poriborton Industries)

38 to 47 Anupama Hotels Ltd., Naman Hotels Ltd., Kavya hospitality and tourism sector
Hotels Ltd., Miss Kavya Narula, Naman Group,
Komal, Sagar, Ritu, Hard Coupons Ltd., Vanraj &
Sons, XYZ Bank Ltd.

48 to 57 CA Parminder Kaur, Raj Arora, Simran Arora, Mr. Financial consulting, construction,
Amit Juneja, SIMRAJ (Corporate house), Simran pharmaceuticals, trading,
Constructions GmbH, Raj Pharma AG, machinery import/export.
SimContractors Pvt. Ltd. (SIMCO), Simraj (P) Ltd.,
Malta Machineries, Medico Inc.
58 to 66 Mr. Amar Dev, Mr. Rahul Dev, CA Nitin Garg, The business industry involved in
Robert de Nero, M/s ABCD Ltd., ALPHA Units the case study is the textile
(Branch office in India), M/s PQRS Ltd. manufacturing industry.

67 to 74 Luminous Ltd., R. Sodharan & Associates Renewable energy/solar energy

(auditors)
Mr. Ramesh, Mr. George

75 to 83 Names involved: Mr. Murli Lal, Mrs. Bansuri Agriculture, animal husbandry,
Devi, CA Puru, Mr. Prabhudeva, Mr. X, Mr. Babu corporate consulting, legal services,
Lal, Gautam, Barkha, Mr. B, Mr. C, Mrs. Daya taxation
Business entities involved: M/s Bansuri Pvt. Ltd.,
M/s Khetibaadi Ltd., Alpha Pvt. Ltd., PQR Pvt.
Ltd.

84to 91 Names involved: CA Suresh Shah, CA Harvinder Accounting, auditing, taxation,

Kaur, Subhash, Ashish, Manoj, CA Harsh Bhatia, construction, education, software,
CA Nikhil Grover, CA Sakshi Ahuja, Mr. Amit NGOs, real estate, customs
Business entities involved: LWS & Co. (Chartered
Accountant Firm), Shivalik Construction Private
Limited, MVS Private Ltd., SSI Pvt. Ltd., AB
Private Limited

92 to 99 Names involved: CA Ashish Kulkarni, CA Nita Accounting, taxation, GST

Goswami, CA Nagabhushan Pai, Ram Electricals, consultancy, manufacturing,
Sai Kripa International Ltd. trading, electrical supplies
Business entities involved: KG & Co. (partnership
firm of Chartered Accountants), Creations Ltd.,
Rockstar Bags Ltd., Ram Electricals, Sai Kripa
International Ltd.

100 to 105 Names involved: Whirlsonic Ltd., Ballika City Electrical consumer durables
Club, M/s S.M. Mehta & Associates, CA Mehta, manufacturing, audit, taxation,
Mr. Rudra, Mr. Meril, Lavish Ltd., Mr. Somesh corporate governance compliance,
Business entities involved: Whirlsonic Ltd., risk management, actuarial
Ballika City Club, M/s S.M. Mehta & Associates, services, investment advisory,
Lavish Ltd. investment banking
106 to 111 Names involved: Pardeep, Mr. John, Anuj, Mr. Manufacturing, cricket, accounting,
Gulshan technology

Business entities involved: Whirlsonic Ltd.,

Technologies Ltd., Mobize Ltd.

112 to 121 Names involved: Lakshya, Mukesh Real estate, maintenance services,
loan, fraud prevention, donation,
Business entity involved: Lotus Private Limited, taxation
Humara Limited, UTHO (NGO)

122 to 129 CA Arvind Kapoor, CA Rajesh Dhamija, CA Piyush Accounting, auditing, taxation,
Makkar, CA Gaurav Satija, Vallabh Cotton textile manufacturing, consulting
Limited, Aggarsain Spinners Private Ltd, IGT
Private Limited, Ryan & Co, Khushi Ltd,Kapoor &
Co, Syndicate Bank, Balbir & Co, Sethi Lal &
Son's

130 to 137 Names involved: Shanaya Limited, Saurashtra Real estate, manufacturing,
Pvt. Ltd., PQR Private Limited consulting

Business entities involved: Independent valuer,

Government of India

138 to 146 Names involved: Shivani, M/s ABC, UBA Private Consultancy, auditing, real estate,
Limited, MAR Limited, M/s XYZ, financial services, education
Reena,Consultancy firms, UBA Private Limited,
MAR Limited, M/s XYZ, MNC

147 to 153 Names involved: Aspan Ltd., Trulor (P) Ltd., Mr. Manufacturing, mining, steel
Rohit , Manufacturing and steel trading trading, construction
company, exploration and mining company

154 to 166 Names involved: Surya Limited, Mr. Vaibhav Manufacturing, trading, finance,
Saxena, Dharmveer, Chotu Ram, Surya Limited, consulting, mining, real estate
Night Limited, Sab ka Sath NGO
167 to 175 CA Sagar Shah, CA Simran Kaur, CA Pankaj Chartered accountancy,
Bansal, Pratham, Shivam, Ragini, Anurag Basu, manufacturing, research and
Spectra Limited, BCD Pharmaceuticals Ltd., PQR development, pharmaceuticals, real
Ltd., ABC Developers Ltd., DK, HG, XYZ Ltd , SSP estate, catering, professional and
& CO. LLP, PQR Ltd., Spectra Limited, BCD technical services, foreign
Pharmaceuticals Ltd., ABC Developers Ltd., PQR consultancy.
Packaging Ltd., ACD Ltd., XYZ Ltd.

176 to 182 Names involved: Ideal Fabrics Ltd., Mr. Rajesh, Textile manufacturing and trading
Mr. Raju, Mr. Mohan, CA Rakesh Asija, Kunal
Textiles, Madhu TextilS , Ideal Fabrics Ltd., Kunal
Textiles, Madhu Textiles

183 to 192 Names and business entities involved: Tourism

- Aakash and Vani
- Aakashvani Universal (partnership firm)
- Wonder Agent
- Universal Agent

193 to 202 Akshay serves as the Vice-President of Finance Finance, Accounting, Taxation
at Kishaniti Limited. Rohit, a new accountant,
recently joined the company's team. Kishaniti
Limited operates independently, while Shivalik
Private Limited, funded by promoters, is another
entity.

203 to 210 M/s ABCO & Co. (a firm of Chartered Chartered Accountancy, Legal
Accountants) Services, Taxation, Financial
- Partners: Mr. A, Mrs. C, Mr. B, and Mr. D Services
- Clients: Belwals Pvt. Ltd, Roy LLP, Pure Ltd,
Netonet, Halfly Ltd
- Adjudicating Authority, Joint Commissioner of
Central Tax, Appellate Authority

211 to 217 N. Maheshwari & Associates (CA firm) Chartered Accountancy, Taxation,
- Partners: CA Freesha, CA Naman, CA Pawan, GST Consulting, Financial Reporting,
CA Nyss Auditing, Insurance
- Clients: Mr. Saransh, Sunstar Enterprises,
Sarvagye Ltd, Sonam, AAN Consultants, ABC Pvt.
Ltd, Protect Insurance Ltd, PRQ Ltd
- Other entities: Maharaja Ltd, M. Yusuf, MMN
Steels Ltd
218 to 228 RA Ltd, Chandra Suppliers Ltd, ABC & Associates, Manufacturing (aerated soft
CA A, Mr. M, Niraj Transport Co., Election drinks), Auditing, Investments,
Commission of India, Too Cool Transport, Advertising, Political
donations, Manufacturing (scientific
research), Retail.

229 to 237 Yantra Pedasu Ltd. (YPL), SYD Pte Ltd. (SPL), Mr. Steel manufacturing, Auditing,
Sunil Verma, Mrs. Sunita, Chappan & Co., Mr. Charitable activities, Machinery
Kailash Chappan, Shiksha Kalyan Trust (SKT), supply, International trade.
Dusham Ltd., Unno Pte Ltd. (UPL)

238 to 247 Hari Mehta, Golden Rivers (P) Ltd., RPP Ltd., CA International business, Investment,
Vani Mehta, Amit's company - ABC Inc., PQR Due diligence, Construction,
Ltd., Rahul's company - Kings plc., Golden Rivers Corporate restructuring.
Ltd., Zen Limited, ABC Ltd., Key Ltd.

248 to 253 Mahima Consumer Products Limited, Nayyar & Consumer products manufacturing,
Co., CA Karan Nayyar, Mr. Kapoor, Mr. Parimal, Corporate Social Responsibility
"Needs & Helps" (CSR), Accounting, Taxation,
Auditing.

254 to 261 FCA Vivek Bansal, CA Ankit Barisal, Ranjan Pvt. Chartered Accountancy, Audit,
Ltd. Accounting, Taxation.

262 to 270 M/s Mahaveer Medical, Radhika Drugs, Abbott Medical retail, pharmaceuticals,
& Co, Rabbot & Co, Baron Holdings Plc, U.K., Mr. coffee plantation, finance, taxation,
Hari, Dyka Bank, Ratio International Inc, architecture, consultancy services.
Sabyaschi Ltd, Aashit & Co, Mr. Raju, Architect in
Chennai

271 to 281 Rahul, HDM Limited, Mukesh, Rudra Private Business industries: Consultancy,
Limited, Mr. Virendra, Big Private Limited auditing, accounting, finance,
taxation.
282 to 288 Ram Chander, Rohit, Goods transportation Business industries: Finance,
business owner, Mr. Shashank, Mr. Raj, M/s PQR taxation, auditing, consulting.
Chartered Accountants, Reshma, Mr. Shinde,
Motiana Ltd.
289 to 293 Stable and Efficient Limited, Competent and Manufacturing and Industrial.
Capable Limited, Mr. Hor, WY and Associates,
Mr. T, Mr. N

294 to 302 PQRST & Co., Mr. P, Mr. Q, Mr. R, Mr. S, Mr. T, Auditing, Taxation, Manufacturing,
Hambe Manufacturers Ltd., Punyabhumi Ltd., Trading, Telecom Services.
Talktime Telecom Pvt. Ltd., B Ltd., Chandragupta

303 to 309 Varsha Dutta, Varsha Pvt. Ltd., Carp Pvt. Ltd., CA Construction material
Amit Garg manufacturing and trading,
Accounting, Taxation, GST
compliance

310 to 319 Deepak, Aakash, Dujon Sobers, Biotechno Marketing, Banking, Import-Export,
Private Limited, Softbharti Private Limited, Iktara Manufacturing, Investment,
Limited, Seva Jagriti Sansthan, Maya Private Financial Services.
Limited

320 to 327 Sudarshan Limited, Mr. Raj Sudarshan, Mr. LED manufacturing, Finance,
Rahul, CA Om, Bet Ltd, Techno Inc., Ms. Shweta, International trade, Advertising.
Audit Committee

328 to 334 Beta Ltd. - A company in the field of Heavy Manufacturing and finance.
Electronics and equipment.
IDBI - A public financial institution.

335 to 341 MSNV Pvt. Ltd., ABC Foundation Ltd., "Serving Manufacturing and charitable
the Poor" activities.

342 to 349 Business entities involved: Lubricant products manufacturing,

1. Samyen B. Ltd. (SBL) - Unlisted public consulting, auditing, and tax
company in the lubricant products business. advisory.
2. Krutsne (P) Ltd. (KPL) - Company based in
Bangalore.
3. Halson (P) Ltd. - Operational creditor of KPL.
4. Dave & Co. - Consulting firm.
350 to 359 Business entities involved: Agricultural procurement,
1. Annapurna Trading Pvt. Ltd. - Company in the consumer goods manufacturing,
agricultural procurement, consumer items, and auditing, consulting, and legal
related products business. services.
2. Board of Directors Chairman: Mr. Hasmukh
Rawal
3. Friends and Managing Directors: Piyush
Mutneja & Mr. Goraav Bhandari
4. Statutory Auditor and Consultant: CA
Hariharan
5. Internal Auditor: CA Ravi Mehta
360 to 369 Mahajan Food Products Ltd., M/s Sharma Pahwa Food processing, accounting,
& Co., CA Grace Pahwa, Hemlata, Naresh Kumar, taxation, auditing.
A Limited, ABC Ltd., Mrs. Birla

370 to 378 Akash, Bhawanmeet, Rupali, Saman Pvt. Ltd., Chartered Accountancy, corporate
Aman Saini, Mr. Vineet Saini, Head accountant, finance, electronic appliances
Shah Electronics, Mars Ltd., Mr. Ashok Chauhan manufacturing and trading.

379 to 393 Raman Bal, Quality Contents / Quality e- Content writing, printing, venture
Contents India (P) Ltd., Japanese Offshore capital.
Venture Capital Firm, Iceberg

394 to 407 Names and business entities involved: Pharmaceutical manufacturing and
1. CURE Pharma Pvt. Ltd. - A fast-growing Indian marketing.
pharmaceutical company.
2. Mr. S - Chairman of CURE Pharma Pvt. Ltd.
3. Mr. W - Chief Accountant at CURE Pharma
Pvt. Ltd.

408 to 426 ABC Ltd., XYZ Ltd., CFO, Statutory auditors Advertisement services and
manufacturing.

427 to 436 TOTAL TEA Limited, Tea Only, National Bank for Tea plantation, processing, and
Agricultural and Rural Development (NABARD), marketing.
Saraswati Tea Limited, Commercial Tax
Authority
437 to 450 POR Ltd., Sanjiv Pahuja, XYZ Co. Chartered Manufacturing of industrial goods,
Accountants, Bicycles Manufacturers, machine parts, auto parts,
Government authorities household appliances, hosiery, and
apparels, with a focus on chain
drives used in various industries
including bicycles manufacturing.

451 to 462 Josch, Quality e-Contents India (P) Ltd., Initially focused on content writing,
Japanese Offshore Venture Capital Firm, specifically website copywriting and
Iceberg, Local agent of Iceberg business blog writing, expanding
later into printing services.

463 to 475 SZ Ltd., Mr. A, Housing finance company, TEESLA Automotive manufacturing and
INC, ALFA INC., Railway, H Ltd. financing.

1.1 to 1.8 CA M, Mr. P, Rely Consultancy, Mr. Christopher Financial consultancy and real
estate.

2.1 to 2.8 GrowFine, DPIIT, Mr. X, Another start-up Ed-tech/start-up ecosystem.

company

3.1 to 3.9 FST Limited, Bharat Container Corporation Manufacturing and export of ready-
Limited (BCCL), Clearing and forwarding service made garments, tax consultancy
providers, Superintendent (Anti-Evasion), CGST services.
Division, Directorate General of Analytics & Risk
Management (DGARM)

4.1 to 4.13 Home Fab Private Limited, Bharat Container Manufacturing and export of textile
Corporation Limited (BCCL), South Korea, DK made-ups.
Services Private Limited, D Transport Services,
5.1 to 5.10 ABCD Ltd., Mr. Amar Dev, Mr. Rahul Dev, CA Textile manufacturing and export.
Nitin Garg, PQRS Ltd., Mr. D, Supplier C, Dealer
B, Panacea Pvt. Ltd., CA Krit Garg, Megha,
Saurab

6.1 to 6.10 Luminous Ltd., BR Sridharan & Associates, Mr. Solar energy, manufacturing.
Ramesh, Mr. George, Attorney in Dubai, Mr.
Baldev, Solar panels, Retail showrooms, Factory.

7.1 to 7.10 Mr. Murli Lal & Mrs. Bansuri Devi, CA Puru, M/s Agriculture, dairy farming,
Khetibaadi Ltd., M/s. Bansuri Pvt. Ltd., Mr. corporate finance, taxation.
Prabhudeva, Mr. Sharma, Mr. Shakti Puri, Mr.
Babu Lal.

8.1 to 8.10 LWS & Co., CA Suresh Shah, CA Harvinder Kaur, Chartered accountancy,
CA Harsh Bhatia, CA Nikhil Grover, CA Sakshi construction, tax consultancy,
Ahuja, Subhash, Ashish, Manoj, Shivalik customs consultancy.
Construction Private Limited, MVS Private Ltd.

9.1 to 9.10 Manu, Tanu, MBA Private Ltd., Shyam, Ajim, Entrepreneurship, defense
Shyamlal & Co., P&T Private Ltd., SAGE Ltd., manufacturing, accounting,
Anu, Kumar, NP Ltd. mergers and acquisitions, service
contracts.

10.1 to 10.10 Sahana, Sah Fashions Ltd., Madan, Murari, Spun Fashion retail, accounting, taxation,
Ltd., Geet, Mr. Baman, Gana, Hero, Rainbow, real estate.
Contractor.

11.1 to 11.7 Apara, Sampad, Apara Sampad & Co., Chartered Accounting, audit, taxation, laundry
Accountants, Greenly Ltd, Ramnik, Sweety, CA services
Mani, Green Foundation, ABC LLP, Audit
Committee.

12.1 to 12.7 Wanton Terun Limited (WTL), Tiru, Fifty Textile and Garments Industry,
applicants, Senior Vice President (Marketing), Financial Consultancy.
SSS Inc., Independent Audit Committee, P, Q,
Arunima, Aver Private Ltd.
13.1 to 13.10 Wanton Terun Limited (WTL), Mr. Pardeep, Mr. Textile and Garments Industry,
John, Anuj, Mr. Gulshan, Technologies Ltd., Professional Consultancy, Cricket,
Mobize Ltd. Real Estate.

14.1 to 14.9 BASP & Co. Chartered Accountants, ABC Private Chartered Accountancy,
Ltd., Jay, Bavana Ltd., Milaan Ltd., Hum log Manufacturing, Transport Services,
Enterprises, Shahi, Abhir, Merun, Mahima & Co. Politics.
Chartered Accountants.

15.1 to 15.11 Kapoor & Co., CA Arvind Kapoor, CA Rajesh Chartered Accountancy, Cotton
Dhamija, CA Piyush Makkar, CA Gaurav Satija, Manufacturing, Textile
Vallabh Cotton Limited, Aggarsain Spinners Manufacturing, Banking, GST
Private Ltd., Synditop Bank, Khushi Ltd., IGT Services.
Private Limited.

CS-01 Names and business entities involved: Tea Plantation, Processing,

1. Refresh Tea Ltd. (RTL) - A tea company Blending, Packaging, Marketing,
headquartered in Kolkata, India, involved in tea and Beverage Industry.
plantation, processing, blending, packaging, and
marketing.
2. Tea King Plc. (TKP) - A UK-based company
producing tea bags, with a significant global
presence.
CS-02 Prime Tea Private Limited (PTPL), Mr. Bhushan Tea Blending and Packaging,
Triboovandas, Mr. Kumar, Sally, Pam, Sam. Beverage Industry.

CS-03 Prime Tea Private Limited (PTPL), Mr. Bhushan Tea Blending and Packaging,
Triboovandas, Mr. Kumar, Sally, Local Sales Beverage Industry.
Agents.

RTP-01 Krishna Gupta, KG Partners, D Gupta, DG Assets, Aviation industry, specifically

NSE, Airport Authority of India (AAI) airlines.

RTP-02 Yantra Pedasu Ltd. (YPL), SYD Pte Ltd. (SPL), Mr. Steel industry
Sunil Verma, Mrs. Sunita, Chappan & Co., CA.
Kailash Chappan, Shiksha Kalyan Trust (SKT),
Dusham Ltd., Unno Pte Ltd. (UPL)
680 to 684 M/s. XYZ and Associates, M/s. Unique Textiles, Cement, Pharmaceuticals,
Equipments and Foundries Limited (UEFL), M/s. Iron and Steel, NBFC's, Technology,
Artha Techno Plast Limited (ATPL), M/s. Rubber Real Estate, Software, and Media.
Technologies and Solutions Limited (RTSL), Ms.
Sudha, Mr. Kirti Iyer, Mr. Kumar

686 to 690 M/s. Indotech Engineering Components Limited manufacturing

(IECL), Mr. Venkiah Reddy, Carl Walther GmbH
Germany, Mr. Gopalakrishnan

692 to 695 CURE Pharma Pvt. Ltd., Mr. S, Mr. W, Board of pharmaceuticals
Directors

709 to 712 TOTAL TEA Limited, More Tea Pvt. Ltd., National agriculture, with a specific focus on
Bank for Agricultural and Rural Development tea production.
(NABARD), Saraswati Tea Limited

717 to 722 Tom & Tinken Limited, Wisdom Constructions Infrastructure development and
Limited, Mrs. Ramamani, M/s. Jags & Raghav construction.
Associates, Mr. Prasanna Pai, Mr. Varmsy
Krishna, Ms. Supraja, Ms. Sukanya, Mr. Sai Ram

725 to 730 Rising Star Limited, Super Star Limited, Mr. Technology, Software, and Media.
Thomas Edison, Mrs. Morgrate Edison, Mr.
Stanley, Mr. Mangesh, Ms. Manasa Maheshwari,
Mr. Madhav Mahajan, Right International Inc.

751 to 754 Mars Construction Ltd., Mr. Philip, Neptune Inc., Construction and manufacturing.
U.S.A., Real Estate Investment Trust (REIT),
Public sector undertaking, State Government

756 to 760 VayuSanchar Limited, HawaSanch Limited, Lucy Telecommunications.

Limited, Magadh Limited, Department of
Telecommunications, Central Excise and Service
Tax Appellate Tribunal (CESTAT), Hon'ble High
Court of Delhi
763 to 765 Akhil, Nikhil, and Sahil, Soil Elements LLP, Agriculture/Agrotech.
Indosys, Farmers, Angel investors

767 to 770 Names and business entities involved: Gardening services and
1. Rahul Jain - Environmental Engineer and environmental conservation.
founder of the start-up.
2. Riya - Commerce graduate and co-founder.
3. Rohan Pai - Software Engineer and co-
founder.
4. Mr. Lamba - Practising Chartered Accountant
consulted for legal structure.
5. Haryali Private Limited - The start-up venture
specializing in gardening services
772 to 776 Names and business entities involved: Foreign investment and business
1. Mr. Ramesh Ahuja - Head of Ahuja Designs setup consultancy.
Incorporated in the UK.
2. Mr. Tandon - General Manager of Ahuja
Designs Incorporated.
3. CA Vishal - Partner at M/s G & Co., Chartered
Accountants.

791 to 792 Names and business entities involved: Chartered Accountancy practice.
1. CA Ankit Bansal - Recently qualified Chartered
Accountant.
2. FCA Vivek Bansal - An established Chartered
Accountant and Ankit's father.
3. CA Firm - Established by FCA Vivek Bansal.

795 to 799 Mahajan Food Products Ltd., Sharma Pahwa & Food processing industry,
Co., CA Grace Pahwa, CA Kashish Jain, CA accounting, and taxation.
Mohan Sharma

801 to 802 STYZ Limited, Mr. B, Mr. H, Mr. K, Mr. N, Mr. R, Manufacturing (furniture).
Mr. W, Mr. F, SZ Limited, WK Limited, FJ Limited,
MZ Limited, RG Limited

804 to 807 Rahul, M/s ABC Chartered Accountants, HIM Consultancy (Chartered
Limited, Rudra Private Limited, Big Private Accountancy services).
Limited
808 to 811 Akshay, Rohit, Kishaniti Limited, Mohammad Finance, Accounting, Real Estate,
Shah & Brothers, Madan Lal, Johnsons Consulting.
Appliances Pvt Ltd., Eagle Watch Company
Security Private Limited, Mariol Limited, Shah &
Thapa HUF, M/s PQR Firm, Divine Decorators
Private Limited, Good Luck Home Solutions,
Chotu Lal, Easy-lifts Limited, Lotus Private
Limited, Shivalik Private Limited.

831 to 832 Rainwear & Co, Raj Enterprise, Kamla Enterprise, Rainwear manufacturing, Legal
Rishabh & Co, Alok & Co, Mr. Raj, Mr. Aditya, services, Transportation.
Mr. Evrick, Mr. Evrick's wife, ITC Ltd, Batliboi &
Purohit Co, M/s Dushyant & Co, Radheshyam
Tiwari & Co

833 to 834 HW Limited, Rural Electrification Corporation Manufacturing (tables and chairs),
Limited, Mr. H, Mr. W, Job worker in State N, Construction, Auditing, Contracting,
Mr. T, Mr. Z, Mr. S, Mr. F, Mr. N, YZ and Renting, and Painting services.
Associates

837 to 838 Atul, Rohit, Sonia, PowerTech Solutions Pvt. Ltd., Technology (remote control devices
Incubation center, Mr. Sachin More, Various for water pumps), Agriculture
farmers in a cluster in Nasik district, (farmers' irrigation systems),
Maharashtra, Agricultural College of Pune Manufacturing, Sales, Consulting.

840 to 843 Mahima Consumer Products Limited, Needs & Consumer goods manufacturing,
Helps, Nayyar & Co., Mr. Karan Nayyar, Mr. CSR consulting, Accounting,
Kapoor, Mr. Parimal, Gram Panchayat Taxation, Education, Social welfare

844 to 848 Annapurna Trading Pvt. Ltd., Mr. Hasmukh Agricultural produce, Consumer
Rawal, Mr. Priyush Mutneja, Mr. Goray goods, Manufacturing, Accounting,
Bhandan, CA Hariharan, CA Ravi Merta, Head Auditing, Taxation, Warehousing.
Accountant

866 to 869 Deepak, Aakash, Dujon Sobers, Biotechno Banking, Manufacturing, Import-
Private Limited, Softbharti Private Limited, Iktara export, Marketing, Business
Limited, Universal Bank, Maya Private Limited consultancy, Corporate finance.
870 to 871 GLA Enterprises Pvt Ltd. (GLA), Tada Motors, Automotive manufacturing, Supply
Force Motors, Directors, Business Consultant chain management, Business
(CA), Auditor, Full-time resource, Other consultancy, Financial advisory.
potential customers

872 to 873 Cheerful & Healthy Limited, Calm & Helpful Manufacturing of furniture
Private Limited, Mr. X, Mr. Y, Assessing Officer, (cupboards, tables, chairs, dining
Mr. H, Extremely Capable Limited tables).

875 M4 Home Private Limited, Mundra port, USA, Textile manufacturing and export.
Chinese rivals, Customs authorities, GST, IGST,
Research and development expenditure, Duty
drawback

878 to 880 PQRST & Co., Hamba Manufacturers Ltd., Audit, accounting, taxation,
Punyabhumi Ltd., Talktime Telecom Pvt. Ltd., B telecommunications, power
Ltd., Chandragupta generation.

900 to 903 Gautam Agrawal & Associates, Goyal Textiles Audit, taxation, company law,
Ltd., Riddhi Siddhi Traders Pvt. Ltd., Happy manufacturing, confectionery,
Crunch Ltd., Agile Circuits Ltd. bakery.

905 to 906 Ideal Fabrics Ltd., Mr. Rajesh, Mr. Raju, CA Textile manufacturing.
Rakesh Asija, Kunal Textiles & Madhu Textiles

908 to 910 LWS & Co., Shivalik Construction Private Limited, Professional services (Chartered
MVS Private Ltd., SSI Pvt. Ltd. Accountancy) and various sectors
including construction,
manufacturing, and import/export.

911 to 914 SSP & Co. LLP, CA Sagar Shah, CA Simran Kaur, Professional services (Chartered
CA Pankaj Bansal, Pratham, Shivam, Ragini, PQR Accountancy) and diverse sectors
Ltd., Spectra Limited, BCD Pharmaceuticals Ltd., including manufacturing, research
ABC Developers Ltd., ACD Ltd., XYZ Ltd. and development, pharmaceuticals,
and real estate.
916 to 918 Mr. Hari Mehta, Golden Rivers (P) Ltd., RPP Ltd., International business expansion,
Amit's company ABC Inc., PQR Ltd., Rahul's mergers and acquisitions, due
company Kings plc., Golden Rivers Ltd., Zen diligence, infrastructure
Limited, Mr. Mehta's nephew's company Key construction, financing.
Ltd.

943 to 944 Prag Bhara Ltd. (PBL), Vasudhara (P) Ltd. (VPL), Oil extraction, joint ventures,
Samya Ltd., Kwick Tiles Ltd. (KTL), Jharkhand Co- investments, borrowings, auditing.
op Ltd.

945 to 947 Happy Homes Limited, Mr. Happy, Mr. CS, JAY & Manufacturing, appointments,
Company, Suppliers, Visitors to the carnival, corporate governance, outsourcing,
Cost drivers trained by JAY & Company cost management, GST compliance.

949 to 950 Supatra Foundation, Mr. Sameer Devan, Jas Charitable activities, corporate
Jagish Ltd., Mr. Rajat Bhatia, Nishalya Ltd., Trium donations, taxation, auditing,
Inc., Mr. Suraj, Mr. Dhiman, Mr. Harsh Vora, consultancy services, web-hosting
Vora & Associates, VKS & Co., Mr. Kushal Sena services.

951 to 955 Kundan Gems Pvt. Ltd., CA Milin Shah, M N Shah Manufacturing (gems, jewellery,
& Co., Sensque Technologies Pvt. Ltd., CA Neil computer hardware, software),
Shah, All-in-one Option Ltd., CA Mahendra Shah, auditing, accounting, consumer
CA Bhavesh Shah, Mr. Fenil goods.

957 to 958 Kiramji Ltd., Mr. Dishant Kiramji, Mr. Jayesh, Construction, real estate, finance.
State Bank of India

983 to 984 Waqt Ltd., Mr. Raghu, Utpal Ltd., Mr. Mahipal Textile, finance, international
Sena, Tim Inc., YT Corp., Leon Co., Director taxation.
General of Income-tax
985 to 986 Vratam Ltd., Kiyat Ltd., Rasam Ltd., Kruava Co., Corporate arbitration, investment
Assessing Officer (A.O.), Transfer Pricing Officer valuation, transfer pricing, income
(TPO), Dispute Resolution Panel (DRP), Income tax assessment.
Tax Appellate Tribunal (ITAT)

988 to 989 Apsfion Ltd., Mr. Himanshu, Fsell Inc., Suppliers Furniture manufacturing and sales,
using Fsell Inc.'s platform, Government, e-commerce platform services, tax
Customers of Apsfion Ltd. compliance.

990 to 991 Asayam Ltd., Mr. Jayprakash Sharma, Mr. Automobiles and spare parts,
Rajveer Sena, Employees of Asayam Ltd. (Mr. insurance, leasing and hiring of
Shyam, Mr. Rahul, Mr. Kalpesh, Mr. Daman), machinery.
HMFL Pramerica Life Insurance Co. Ltd., Havanti
Ltd., VPL Bank

993 to 994 Pranidhan Ltd., Deshavart Ltd., Mr. Prasidh Cloth garments, air travel, foreign
Dave, Disha Travels, Stambh Forex Private exchange, defined benefit plans.
Limited, Mr. Jatin Saxena, Relatives of Mr.
Prasidh residing in the USA, RBI (Reserve Bank of
India)

1013 to 1014 Upal Ltd., Paryupasna HR & Accounting Services Financial services, human
Pvt. Ltd., Mr. Merumal, Ms. Reema Vakaria, BKG resources, cloud services.
Commercial Bank Limited, Apnacart.com

1016 to 1017 Chandhriv Ltd., Krut Foundation, CA Matvar, Mr. Charitable contributions, retail
Soham, Mr. Nartan, M/s. James Durbin, State business, wholesale business,
Bank of India (SBI), Bank of India (BoI) holiday packages, education
services

1018 to 1019 CDT Hospitality, Liyak Ltd., Mahishi Ltd., Mr. Real estate investment trusts
Raman, Mr. Suketu, M/s Digubatti & Associates, (REITs), hospitality, auditing.
Mahim Ltd
1020 to 1021 Xaviers Logistics Limited (XLL), SK Trends Ltd., Logistics, warehousing, freight
UdakChem Ltd. (UCL), Mr. Paresh forwarding, multimodal
transportation, trading.

1023 to 1024 Mr. Tushnim, Mr. Swairam, Mr. Rusht, Mr. Real estate, property dealing,
Vidhaay, Nishkantak Paths Limited, Aviskrutya managerial remuneration,
Ltd investments, subsidiary
management.

1041 to 1042 A-Home Fab Private Limited, Mr. Tushnim, Mr. Textile manufacturing and export,
Swairam, Home Fab, Inhouse GST team, GST compliance, import-export
Customs authorities, DK Services Private procedures, construction services.
Limited, D Transport services, Another company
providing construction services

1045 to 1046 ABCD Ltd., Mr. Amar Dev, Mr. Rahul Dev, CA Textile manufacturing, export-
Nitin Garg, ALPHA Units LLC, PQRS Ltd., Panacea import, branch office setup, GST
Pvt. Ltd., CA Krit Garg, Megha and Saurab compliance, audit services.

1048 to 1049 Luminous Ltd., Mr. Ramesh, BR. Sridharan & Solar energy, manufacturing,
Associates, Mr. George, Attorney in Dubai, Mr. auditing, legal services.
Baldev

1051 to 1053 Mr. Murli Lal & Mrs. Bansuri Devi, CA Puru, Agriculture, dairy farming, tea
Bansuri Pvt. Ltd., Khetibaadi Ltd., Mr. market, tax consulting.
Prabhudeva, Mr. Sharma and Mr. Shakti Puri,
Mr. Babu Lal
1054 to 1056 1. LWS & Co., CA Suresh Shah, CA Harvinder Accounting, taxation, construction,
Kaur, CA Harsh Bhatia, CA Nikhil Grover, CA import/export, customs.
Sakshi Ahuja
2. Subhash, Ashish, Manoj
3. Shivalik Construction Private Limited
4. MVS Private Ltd.
5. SSI Pvt. Ltd.

A04 TO A20 Rising Star Limited, Super Star Limited, Mr. Technology, software, media.
Madhav Mahajan, Mr. Thomas Edison, Mrs.
Morgrate Edison, Ms. Manasa Maheshwari

A21 TO A31 New Gen Toys and Clothing Limited, Managing Manufacturing (soft toys) and retail
Director (former and current), Various (fabrics and cloth).
individuals and entities

A32 TO A44 Magma Automobiles Limited (Magnum), Automotive manufacturing and

Yamuna Fitting Works Limited (Yamuna), engineering products
Rahman Malik, Yasin Malik, Anirudh, Aswini, manufacturing.
Mohan Rangarajan, Subha

A45 TO A59 Tom & Tinken Limited, Mr. Prasanna Pai, Mr. Infrastructure development and
Vamsy Krishna, Ms. Supraja, Ms. Sukanya, Mr. construction.
Sai Ram, M/s. Jags & Raghav Associates,
Chartered Accountants, Ms. Divya

A60 TO A73 Ringing Bell Group, Mr. Jim, Mr. Thompson, Mr. Technology, specifically 3D printing.
Ram Kumar, Mr. Hari, Mr. Porus
A74 TO A86 Ding Dong Ventures, Quick & Qual Sys Limited, E-commerce, technology.
Ms. Harini, Mr. Ramaswamy, Mr. Sarvesh, Mr.
Frederick, Mr. Naveen

A87 TO A99 Anju Texyarn Limited (ATL), Kamatchi Amman Textiles.

Group, Mr. Kumar, Mr. Narayanan, Ms. Pratibha

A100 TO A109 X Ltd., Mr. A, Managing Director, CFO (Chief Pharmaceutical industry.
Financial Officer), Company Secretary, Major
competitor

A110 TO A121 M/s. MG Software and Exports Limited, Mr. Information technology and
Madhav Ganapathy (MG), Mr. Daivignay, Mr. software services.
Abhinandanan

A122 TO A127 Digital Software Ltd., Digital Software Inc., USA, Information technology and
F Ltd., R Ltd. software services.
A128 TO A33 New Gen Chemicals Limited (NGCL) - Flagship Chemical manufacturing.
company of Bharat Group, engaged in the
manufacture of various chemicals used in
textiles, engineering, and other manufacturing
industries.

A134 TO A137 1. Paper Board Private Limited Paper manufacturing and exports.
2. Innovative Papers Limited
3. Digital Papers

A138 TO A142 1. Shah Education and coaching for

2. Kumar professional exams.
3. Patel

A143 TO A148 1. Jwala Mills Limited Chemical manufacturing industry.

2. Clean and Sweep Limited
3. Swatch Limited
4. Guru Limited
5. Dead Wood Private Limited

A149 TO A155 1. Omega Soft Tech Ltd. Technology or software services

2. M/s. D Ltd. industry.
3. Public sector banks
4. NBFCs
5. NCLT

A156 TO A162 Sindhuja Foundries Limited (SFL), M/s. D Ltd., Manufacturing, specifically castings
Directors of SFL, XYZ Ltd. Industries: for automobiles, tractors, industrial
Manufacturing (foundries), Subsidiary company, engines, construction equipment,
Liquidation process power generation equipment, and
defense applications.
A163 TOA167 The Assessee, Investigation Wing, XYZ College, This case pertains to income tax
Shri ABC, Deputy Director of Income Tax (Inv), assessment and alleged evasion
Joint Commissioner of Income Tax, Additional related to payment of capitation
Commissioner of Income Tax. Industries: fees/donations in the education
Education, Taxation sector.

A168 TO A173 M/s. New Tech Automobile Solutions Limited Software development, particularly
(NTASL), Software Technology Parks, M/s. XYZ & specialized software packages for
Associates (Statutory Auditors), CA. Mr. F, Board two and three-wheeler automobile
of Directors of NTASL manufacturers in India and abroad.

A174 TO A179 1. Ram Equipments Limited (REL) Manufacturing and distribution of

2. Alfa White Limited (AWL) air compressors and related
3. Beta Blue Private Limited (BBPL) equipment.
4. Town City Limited

A180 TO A184 1. Aroma Technologies Limited (the Company) Professional services company
2. Mrs. Sudha (Director of Accounts and specializing in digital solutions and
Finance) technology transformation.
3. Mr. Kumar (CEO & Managing Director)

A185 TO A191 1. XYZ Ltd. (manufacturing company based in Manufacturing of pulley chains and
Lucknow) consultancy services for hydraulic
2. Mr. Rony (Managing Director of XYZ Ltd.) machines and systems.
3. L Ltd. (supplier of machinery)
4. POR Enterprises (recipient of machinery)
5. N Ltd. (importer of machine from South
Korea)

A192 TO A198 Mr. Alex, Mr. 'X', Chase Inc., Orange Highway infrastructure construction
Stabilizers (India) Limited (OHSIL), Status One
Highway Limited (SOHL). Industries: Highway
construction or infrastructure."

A199 TO A205 Mr. Ajay Patel, BZ and Associates, Compressors manufacturing industry
and Equipment Solutions Ltd , Sharp Falls
Limited), WYK Ltd, XYZ Ltd. Industries:
Manufacturing , Auditing, Web development
A206 TO A211 Angel Motor Company (AMC), Gogreen Ltd (GL), manufacturing industry
Multicrop Limited (ML), Robust Fitting Works
Ltd, MX Ltd, X Ltd, Y Ltd, Mr. Shiva

A212 TO A218 1. Sunshine Cot Spin Ltd (SCSL) - A family- SCSL operates in the textile
owned, closely held Public Limited Company industry, specifically in the spinning
engaged in spinning and weaving of cotton yarn, and weaving of cotton yarn. The
with plans to expand into other segments of the company also engages in leasing
textile industry. properties for mobile towers as an
2. CA. Sriman Narayan (SN) - Senior Partner at ancillary activity.
the audit firm, overseeing the audit process for
SCSL.

A219 TO A223 Soft Tech Automobile Solutions Private Limited STAS operates in the technology
(STAS), Ms. Sunandha, Ms. Pracheeti, Ms. sector, focusing on developing
Anjana, Ms. Samanvitha, Ms. Jaishvitha, M/s. innovative software solutions for
DEF & Associates automobile manufacturers,
particularly in the two and three-
wheeler segment.

A224 TO A228 KG Limited (KGL), Gangotri Limited (GL), Manufacturing

Madhruk Limited (ML), El Gee Industries Limited 2. GL and ML - Merger and
(EGIL), JM Bakes & Confectioners Ltd (JMBCL), acquisition
Iyer & Co. Confectioners & Bakers (ICCB), 3. EGIL - Manufacturing (steel
Shanthi Biotech Limited (SBTL), Super Spinning storage racks)
Ltd (SSL) 4. JMBCL and ICCB - Bakery and
Confectionery
5. SBTL - Biotechnology
6. SSL - Spinning

A229 TO A235 1. PB Private Limited Paper industry

2. IP Limited (Paper industry) Export-focused partnership firm
3. DP (Regd.) (Export-focused partnership firm)

A236 TO A244 1. S Limited 2. Government of India 3. M/s ABC Machinery Manufacturing

Chartered Accountants 4. Excel Private Limited
5. M/s DG Brothers Private Limited 6. Amit
Shukla

A245 TO A249 1. Telecom Inc. Telecommunications/Telecom

2. Powering Grids Corporation of India Ltd. Network Augmentation
(PGCIL)
3. Mr. Swami
A250 TO A254 1. XYZ Limited Manufacturing of pistons (auto part
2. CDE Limited for commercial trucks)
Manufacturing of commercial
trucks

A255 TO A258 1. M/s. HPNR LLP Animation Studio

2. Mr. HPR
3. Mr. NPR

A259 TO A262 1. Defence Innovators Limited Shipbuilding

2. XYZ Private Limited

A263 TO A268 SF Limited (SFL) Manufacturing Defense

Defence Innovators Limited Automobile
XYZ Private Limited

A269 TO A273 1. PS Limited (PSL) Manufacturing (PS Limited)

2. NBV Associates, Chartered Accountants
3. CA B.V.

A274 TO A281 1. TP Limited 2. M/s YM Associates 5. Ms. Julie Commodity Trading

6. CA. Vinod
3. Mr. Yasvardhan 4. Mr. Tara Prasad 7. MX
Limited 8. NCLT

A282 TO A288 1. BMY LLP 5. M/s GAAR Limited 2. Tame Professional Services
Limited 7. M/s Foam Limited 9. Investor 4. Ms.
Devina 6. M/s GAP Limited
8. Mr. Dalai 3. M/s Pool Limited

A289 TO A294 1. The Company (wholly owned subsidiary of a Oil and gas exploration and
listed company) production
2. Host governments
3. Subsidiaries and jointly controlled entities
4. Ministry of Corporate Affairs

A295 TO A299 1. HV Company Limited (HVCL) Heavy equipment manufacturing

2. AB Infra Limited (ABIL)
A300 TO A304 1. Majestic Industries Limited Power sector ancillary product
2. AB Infra Limited manufacturing
3. BMC Foundation
4. NAN Consultants

A305 TO A310 1. Forever Source Limited (FSL) Specialty chemicals manufacturing

2. Mr. Raman and export
3. Worldwide Online Advertisement Agency
(WOAA)
4. M/s Agro Research Limited (ARL)
5. DEF Limited

A311 TO A315 M/s HK & Co. (Chartered Accountants firm) Diversified industries, including
JK Limited (JKL) manufacturing, exports, and
M/s ARP Limited (ARP) investments.
Mr. Tulip
Mr. Joseph
Machine Industries Limited (MIL)
CA Ms. Shweta

A316 TO A319 GSV Associates (firm of Chartered Accountants), Chartered Accountancy services,
Happy Happy Limited, Mr. Shyamlesh, Sanjay legal advisory, taxation, real estate.
and Associates LLP, Generic Laboratory Limited,
Mr. Shyam Lal, CA Vivek, Mr. V. Kumar, Mr.
Manish, CA Sushil, Company 'A', Company 'B',
Company 'C', Company 'D', Company 'X',
Company 'Y', Z Limited, Mr. Keshav Prasad.

A320 TO A326 Brightstar Limited, SUN Limited, customer K, Investment, manufacturing, legal
supplier F, CASA Ltd., Methane Private Limited. actions, financial services, property
development, pension
management.

A327 TO A333 Manu, Tanu, M&A Private Ltd, Shyam, Shyamlal Defense manufacturing, finance,
& Co, P&T Private Ltd, SAGE Ltd, Anu, Kumar, NP acquisitions, corporate governance,
Ltd. contract services.

A334 TO A339 Manu, Tanu, M&A Private Ltd, Shyam, Shyamlal Defense manufacturing, finance,
& Co, P&T Private Ltd, SAGE Ltd, Anu, Kumar, NP acquisitions, corporate governance,
Ltd. contract services.

A340 TO A345 Apara, Sampad, Aparasampad & Co., Greenly Chartered accountancy, corporate
Ltd, Ramnik, Green Foundation, NGO, Greenly services, laundry services,
Ltd, ABC LLP, CA Mani. corporate social responsibility,
auditing.
A346 TO A350 Wanton Terun Limited (WTL), Tiru, Senior Vice Textile and garments industry,
President (Marketing), SSS Inc., P, Q, Arunima, financial consultancy, corporate
Aver Private Ltd. governance, corporate finance,
business combinations.

A351 TO A356 BASP & Co. Chartered Accountants, Tan & Kan, Chartered accountancy,
Jay (Director of Finance at ABC Private Ltd), manufacturing and supply of air
Milaan Ltd., Bavana Ltd., Humlog Private Ltd., conditioners and refrigerators,
Shahi, Abhir, Ranga, Merun (Partner at Mahim & investments, contract labor supply,
Co. Chartered Accountants). financial services.
Quick summary

Amiysam Ltd., a chemical manufacturing company, recently acquired Visam (P) Ltd. (VPL), which specializes in the producti
a specific chemical product 'KOH'. Following the acquisition, decisions regarding financial reporting, including the preparati
consolidated financial statements, arise, with the CFO, Mr. Digpal, informed of the requirement. Mr. Devraj, appointed as
managing director for both VPL and Amiysam Ltd., engages in share acquisitions and transactions. Meanwhile, Mr. Praveen
audit engagement partner, faces challenges in relying on previous audit evidence and provides consultation on financial
statements. External consultancy constraints from Rao & Co., where Mr. Praveen holds a profit sharing ratio, limit their ab
provide internal audit services to VPL.

M4 Home Private Limited, based in New Delhi, commenced construction of its premises in NOIDA using pre-fabricated stru
and completed the building by July 2022. Delays in importing textile machinery from South Korea, compounded by nationw
lockdowns, postponed the start of commercial production until September 2022. Despite these challenges, the company
achieved significant success in the USA market, capturing export orders through digital marketing and online platforms,
surpassing its Chinese competitors. With an export turnover of 50.00 crores and duty drawback credits of 2.00 crores, the
company reported a net profit before tax of 7.50 crores for the fiscal year ending March 31, 2023.

M/s Parv Fabrics, a partnership firm in Uttar Pradesh, manufactures designed and printed fabric. After experiencing a fire
incident in 2011, the partners, Mr. Parth and Mr. Aarav, decide to opt for fire insurance policies to mitigate risks. They edu
themselves on various types of fire insurance policies and eventually opt for coverage for their building, machinery, and
inventories. Unfortunately, another major fire occurs in January 2023, causing significant damages to their plant, machiner
inventories. The firm receives insurance compensation for the damages incurred. Additionally, the firm deals with GST-rela
matters regarding input tax credit (ITC) availed on destroyed materials and output liability for damaged and normal finishe
stock. They also make purchases from Costa Industries Pvt. Ltd. and deal with associated IGST charges.

Dalmia & Associates, a CA firm, is appointed as the branch auditor of Eastern Bank of India located in Kolkata for the fiscal
ending March 31, 2023. Before commencing the audit, the firm's team familiarizes themselves with the bank's core activiti
products, and operating procedures. They conduct risk assessments, deploy resources, and plan audit procedures accordin
During the audit, they observe various issues, including the lack of stock audits for certain borrowers, high foreign exchang
portfolio risks, credit facilities to exporters, stuck-up overseas payments, inadequate drawing power for borrowers, and
instances of quick mortality in cash credit accounts.

Anupama Hotels Ltd., facing economic losses due to the COVID-19 pandemic, considers three options for the future of the
resort property "THE VILLAS": Option 1 involves merging with Naman Hotels Ltd. to form a new entity, Option 2 entails
acquisition by Kavya Hotels Ltd., and Option 3 suggests a special audit and corporate restructuring. Option 1 proposes
collaboration with Naman Group to establish "Namupama Villas Ltd." Option 2 offers acquisition by Kavya Hotels Ltd. with
financial details and peculiar transactions for consideration. Option 3 involves a risk-based audit focusing on controls and
management competencies, leading to corporate debt restructuring. Anupama Hotels Ltd. decides to pursue Option 3 and
requests the auditor to frame a scheme for discussion with XYZ Bank Ltd.

CA Parminder Kaur, a qualified Chartered Accountant, operates her practice in Jalandhar, Punjab, specializing in global
accounting, foreign exchange legal matters, international taxation, and financial literacy. She secured a consultancy contra
SIMRAJ, a corporate house based in Frankfurt, Germany, founded by Raj Arora and Simran Arora. Simran manages Simran
Constructions GmbH, while Raj heads Raj Pharma AG, a pharmaceutical venture. SimContractors Pvt. Ltd. (SIMCO) execute
construction projects for Simran Constructions GmbH in India. Parminder assists in importing machinery for SIMCO and ad
on financial matters for Raj Pharma AG. Additionally, Simraj (P) Ltd. is involved in financial transactions related to foreign
operations. Raj and Simran contemplate tax implications of their global income and consider Parminder for the role of CFO
SIMRAJ's German group.
M/s ABCD Ltd., a textile manufacturing company based in Surat, Gujarat, is led by Mr. Rahul Dev, who aims to expand its g
presence. Rahul consults with CA Nitin Garg regarding legal compliances, especially related to GST, as the company ventur
international transactions. Rahul collaborates with Robert de Nero, owner of the international clothing brand ALPHA, to es
a branch office in India. Additionally, Rahul sets up a subsidiary, M/s PQRS Ltd., in Paris to facilitate import-export transacti
The company applies for an Import Export Code (IEC) and engages in transactions with its subsidiary. Rahul seeks Nitin's
guidance on GST implications for various export sales and import transactions. The statutory audit of M/s ABCD Ltd. is con
by Nitin Garg & Co., supervised by CA Krit Garg, who adjusts the audit strategy and plan based on internal audit findings. K
seeks Nitin's advice on modifying the audit strategy and plan to address weaknesses in internal controls.

Luminous Ltd. is a solar energy manufacturing company aiming to provide clean, low-cost energy. They prioritize product q
and receive government grants for research and development. R. Sodharan & Associates are their auditors. The company
considers selling an undertaking, faces challenges in filling director positions, and declares interim dividends. Mr. Ramesh,
director, engages a consulting engineer for his property and visits an amusement park with his family. Legal services are ob
from an attorney in Dubai. Transfers of solar panels to retail showrooms are made without consideration under GST.

Summary of the case study: Mr. Murli Lal and Mrs. Bansuri Devi, successful farmers and dairy farm owners, seek to expand
business with the help of CA Puru's guidance. They set up M/s Bansuri Pvt. Ltd. in Mumbai with Mr. Prabhudeva as the ma
director. The company faces challenges such as funding shortages and legal disputes, which CA Puru helps them navigate.
Additionally, Mr. Murli Lal acquires a stake in M/s Khetibaadi Ltd. and seeks advice on various tax matters, including GST
treatment for different transactions. CA Puru also assists Mr. Babu Lal with tax-related issues concerning alimony and
partnership agreements

Summary of the case study: LWS & Co., a Chartered Accountant Firm, handles various clients across different industries.
Subhash, Ashish, and Manoj, the articles of the firm, assist different partners in handling client assignments. Subhash assis
Harsh Bhatia in analyzing the applicability of Ind-AS for Shivalik Construction Private Limited. Ashish assists CA Nikhil Grove
calculating the final tax liability for MVS Private Ltd., considering various expenses and deductions. Manoj assists CA Saksh
in managing customs-related work for SSI Pvt. Ltd., including importing machinery from the USA.

Childhood friends turned partners, CA Ashish Kulkarni and CA Nita Goswami, established KG & Co. in Delhi and Ludhiana
respectively. Leveraging video conferencing, they provide quality services to prestigious clients, addressing tax implication
Creations Ltd.'s slump sale and advising on practical matters such as e-way bill issuance for Ram Electricals. They also hand
portal issues for Sai Kripa International Ltd., ensuring rectification before resubmission.

Whirlsonic Ltd. sponsored a Ballika City Club sports event for girl child rights. M/s S.M. Mehta & Associates, led by CA Meh
handle statutory and tax audits. Rudra analyzed tax implications, querying sales commission and interest disallowance. Th
company engaged in high sea sales with Lavish Ltd. and instituted a vigil mechanism. Director Mr. Somesh discussed corpo
governance with CA Mehta, expressing satisfaction with audit services and requesting additional services.
Reverse brain drain, exemplified by individuals like Pardeep, an NRI who returned to India from the UK, underscores the al
India's burgeoning economic landscape, particularly in sectors such as pharmaceuticals, manufacturing, automobiles, and
healthcare. This movement of human capital, facilitated by government initiatives and long-term planning, brings back vita
knowledge, and savings. Pardeep's transition involves discussions with his friend Anuj, a Chartered Accountant, regarding
diverse sources of income, including rental earnings from a London flat, dividends, and capital gains from shares. Returnin
family home in Punjab, where his brother Gulshan oversees Technologies Ltd., Pardeep finds opportunities for growth. De
the company's profitable Laptops division, it grapples with losses in the Mobiles division, prompting plans for a sale to Mo
Ltd. for ₹50 crores, in accordance with provisions of the Companies Act, 2013.

In this scenario, Lakshya, a new Chartered Accountant at Lotus Pvt. Ltd., is tasked with reconciling April 2022 GST liabilities
company operates in a mall, providing maintenance services, with various expenses incurred and units leased. Transaction
include advance payments, credit notes, and receipts. Additionally, a loan from Humara Ltd. was repaid, while a service ta
default is under litigation. Expense fraud prompts internal control review, and a donation to NGO UTHO qualifies for tax
deductions. Lotus Pvt. Ltd. reported a profit before tax for FY 2022-23.

Kapoor & Co, founded by CA Arvind Kapoor, is a renowned firm specializing in accounting, auditing, and taxation services.
Partners like CA Rajesh Dhamija and CA Gaurav Satija offer expertise in company law and finance-related matters. Vallabh
Limited seeks advice on appointing a Small Shareholders' Director, while Aggarsain Spinners Private Ltd consults on deprec
and TDS implications. IGT Private Limited engages Kapoor & Co for GST compliance, with CA Piyush Makkar leading the cha
The firm's partners regularly discuss industry topics, ensuring their team stays updated.

Shanaya Limited owns properties used for rentals, considering selling Building A and holding Building B for capital apprecia
The company incurred direct operating expenses, not capitalized, and sought independent valuations for both properties.
They're also involved in initiatives like 'Swachh Bharat Abhiyan'. The auditor's report discusses the classification of immova
properties and compliance with Ind AS 40. Shanaya Limited's turnover has been increasing, but liquidity problems persist d
delayed payments from government clients. Tax audits revealed issues like delayed filing and payment of statutory dues, w
ongoing efforts to address them.

Shivani, a newly qualified chartered accountant, works as a consultant for M/s ABC while also handling independent
assignments. She assists UBA Private Limited with accounting standards compliance and provides guidance on employee
benefits. The company's management plans to reclassify certain liabilities as current in their financial statements. After
completing an audit assignment, Shivani assists with drafting notices for annual general meetings. Additionally, she helps h
sister Reena file her income tax return, considering various sources of income and deductions.

Aspan Ltd., a manufacturing and steel trading company, proposed to amalgamate with Trulor (P) Ltd., an exploration and m
company. The scheme for amalgamation was approved by the Tribunal and subsequently sanctioned, leading to the remov
Mr. Rohit, a whole-time director of Aspan Ltd. Compensation was provided for his early vacation of office. The amalgamati
was treated as a business combination under Ind AS 103, with Aspan Ltd. agreeing to replace the existing share-based plan
Trulor (P) Ltd. Additionally, Aspan Ltd. secured a contract from a Public Sector Undertaking for the supply of steel TMT bar
various charges and discounts involved in the transaction.

Surya Limited's Profit and Loss extract for FY 2022-23 indicates revenue from operations, interest income, cost of goods so
change in inventory, and various expenses including salaries, bonuses, penalties, and donations. The company also had div
income and duty drawback. Additionally, Surya Limited sold a land asset and discarded part of its plant and machinery. Pen
matters regarding TDS deduction are noted.
The company conducted board meetings and is considering getting listed. There's a requirement to include a woman direc
the board as per the Companies Act, 2013. Invoice preparation for sales, GST implications, and stock information are also
provided.
SSP & CO. LLP, a chartered accountancy firm in Vadodara, Gujarat, founded by CA Sagar Shah, CA Simran Kaur, and CA Pan
Bansal, organizes an annual competition for its Articled Trainees. This year's winners, Pratham, Shivam, and Ragini, are tas
with assisting senior partners in tax audits, accounting for government grants, and TDS audits, respectively. Each winner is
briefed by a partner and assigned specific tasks related to their expertise, covering tax audit applicability, accounting treat
of government grants, and TDS audit compliance for client firms.

Ideal Fabrics Ltd., a prominent textile manufacturer in Ludhiana, India, seeks advice on managerial remuneration under th
Companies Act, 2013. Mr. Rajesh, an independent director, receives increased sitting fees, while the company assumes e-w
exemption for a sample sent to a customer in Haryana. Despite purchasing machinery from the USA, the CFO believes exch
rate fluctuations won't impact financial statements. Discussions with statutory auditors cover the new TCS provision (secti
206C(1H)) concerning sales to Kunal Textiles and Madhu Textiles.

Aakash and Vani, seasoned professionals, co-founded Aakashvani Universal, a tourism startup. Incorporated as a partnersh
firm, they adhere to Income-tax Act, 1961 guidelines for partner salaries. To boost online visibility, Aakashvani invests in se
engine optimization services. Their revenue model encompasses fixed package charges, hotel fees based on duration, and
additional fees for travel distance. They offer direct subsidies for visits to specific holy sites. FY 2022-23 saw various custom
packages subscribed, alongside commission rates for bookings. Asset acquisitions include air-conditioners, laptops, softwa
furniture. Income and expenses for the year ending March 31, 2032, cover operational revenue, advertising, staff wages, r
repairs, training, telecommunications, conveyance, and agent commissions.

Akshay, the Vice-President of Finance at Kishaniti Limited, is facing various financial and taxation issues, including TDS ded
for rent, computation of statutory liabilities for the month of March 2023, and eligibility for the composition scheme for Sh
Private Limited. Additionally, information regarding property sales and financial data for the year ending March 31, 2023, i
provided for analysis. Rohit, the new accountant, seeks Akshay's assistance in resolving these issues and accurately compu
the company's financial liabilities

M/s ABCO & Co., a firm of Chartered Accountants, is dealing with various issues faced by their clients post-COVID-19 pand
These include GST-related matters for Belwals Pvt. Ltd, insolvency proceedings for Roy LLP, loan application scrutiny for Pu
and legal matters regarding taxation for Purva Ltd. Additionally, the firm is finalizing its accounts for the previous year, dea
with salary issues, and considering audit opportunities for various companies. The partners of the firm are actively involve
addressing these issues and making strategic decisions.

N. Maheshwari & Associates, a prominent CA firm with a diverse range of services, handled various matters for its clients d
the fiscal year 2022-23. These included taxation issues such as capital gains calculation for asset transfers and GST matters
determining taxable value and place of supply. Additionally, the firm provided expertise in financial reporting, audit, and
insurance liability assessment for its clients across different industries. The partners and teams efficiently addressed the co
needs of their clients, showcasing the firm's commitment to delivering high-quality professional services.
RA Ltd, a manufacturer of aerated soft drinks, faces various audit-related issues and financial transactions during the fiscal
These include investments in a supplier company, appointment of statutory auditors, ownership of shares by an auditor's
relative, capital expenditure, depreciation, interest payments, political donations, advertising expenses, transport costs, an
gratuity payments. The audit team, including qualified chartered accountants, examines these transactions to ensure com
with relevant regulations and accounting standards.

Yantra Pedasu Ltd. (YPL) engages in various activities including appointing auditors, handling GST matters, making CSR don
receiving government grants, and engaging in international trade. YPL's subsidiary, SYD Pte Ltd. (SPL), also plays a role in C
activities and business transactions. The case study highlights YPL's compliance with statutory regulations, auditing proced
GST concerns, CSR initiatives, government grants, and international business transactions.

Hari Mehta, an Indian businessman based in Thailand, explores options to invest in India with the guidance of CA Vani Meh
considers acquiring shares in an Indian company, conducting due diligence for acquiring another Indian company, or
incorporating a new foreign company in India. Each option involves careful consideration of legal, financial, and operationa
aspects. The case also highlights the concept of Place of Effective Management (POEM) for determining the residential sta
companies and the importance of due diligence in investment decisions.

Mahima Consumer Products Limited seeks guidance from Nayyar & Co., a CA firm, on complying with Corporate Social
Responsibility (CSR) provisions. The company aims to understand CSR policies, procedures, accounting treatment, and taxa
implications. CSR activities are made mandatory for companies under the Companies Act, 2013, with specific obligations re
to spending, policy formulation, disclosure, and monitoring. The company plans to integrate CSR into its business operatio
including donating a portion of sales proceeds and transferring a building for educational use. Nayyar & Co. advises on lega
compliance, accounting treatment, and taxation aspects of CSR expenditure. The meeting concludes with the appointmen
Nayyar & Co. as statutory auditors for Mahima Consumer Products Limited.

CA Ankit Barisal, recently qualified as a Chartered Accountant, joins his father's established CA practice to gain practical
experience. His father, FCA Vivek Bansal, emphasizes the importance of hard work and ethics in the profession. Ankit learn
about the applicability of GST to CA firms and the taxation aspects of their income. He also studies professional ethics,
understanding the need for integrity, confidentiality, independence, and objectivity in the profession. Ankit works indepen
for a year before joining his father as a partner. Later, he is assigned the audit work of Ranjan Pvt. Ltd., a corporate client o
firm, where he encounters various accounting complexities such as stock valuation, expenses treatment, and taxation issu
Ankit gains valuable experience under his father's guidance and prepares audit reports for the client.

Mahaveer Medical returns expired medicines to Radhika Drugs, invoicing the return. Radhika Drugs sells the goods to Abb
Co, opting for destruction. Abbott & Co seeks a tax ruling on shares from Baron Holdings Plc, UK. Hari, Rabbot & Co's Japan
based employee, earns from Dyka Bank deposits, sells a Mumbai flat without capital gains tax payment. Ratio Internationa
Netherlands entity, gains from Indian share sales. Sabyaschi Ltd deducts taxes paid in the USA and Canada, exempt under
tax laws. Aashit & Co aids Mr. Raju's tax return and UK client service

1. Rahul is assigned to prepare a report for HDM Limited regarding the impact of Ind AS adoption. Issues include property
valuation, mutual fund valuation, deferred tax impact, loan valuation, dividend treatment, and intangible asset valuation.
2. After completing the Ind AS assignment, Rahul supervises the internal audit of Rudra Private Limited, addressing issues r
to property sale, TDS deduction, GST compliance, and GST registration.
3. Mr. Virendra seeks Rahul's opinion on the appointment of M/s ABC as auditor for Big Private Limited, considering statut
audit limitations under the Companies Act, 2013, and the company's turnover and share capital.
 Various clients, ranging from retired individuals to business owners, seek consultancy on tax matters, investment strategie
foreign exchange transactions, regulatory compliance, and audit-related issues, reflecting a diverse set of concerns in finan
management and statutory compliance.

Stable and Efficient Limited, a manufacturer of carry bags and storage bags, shifted its manufacturing business from an urb
area to a rural area. It sold land and purchased new land for this purpose. It considered acquiring the business of Compete
Capable Limited and conducted three types of due diligence. Several transactions occurred during the financial year, includ
cash receipts, equipment purchases, and settlements. There is a disagreement among directors regarding the requirement
maintain production records and accounts.

PQRST & Co., a Chartered Accountant firm, addressed key issues:

Accounting and taxation for Hambe Manufacturers Ltd., notably transactions with Punyabhumi Ltd. and revenue recogniti
from a renovation project.
Similar concerns with Talktime Telecom Pvt. Ltd., including revenue from an agreement with B Ltd. and tax treatment.
Partner eligibility for audits, ensuring compliance with Companies Act, 2013, in current appointments.

Varsha Dutta, an IIM Guwahati management alumna and entrepreneur, engages CA Amit Garg for accounting and taxation
assistance at Varsha Pvt. Ltd. They address inventory presentation, contract pricing complexities, GST matters, and income
allowance for specific expenses. Varsha appoints Amit as her company's auditor and seeks his aid in actuarial and investme
advisory services, aiming for improved compliance and management.

Deepak, inspired by Aakash's advice, establishes Softbharti Pvt. Ltd. in partnership with Iktara Ltd. He sources biometric
machines from Biotechno Pvt. Ltd. for Universal Bank. Softbharti engages in philanthropy and investment, navigating finan
complexities like deferred tax and fixed assets. Deepak, though remote, actively manages the company's affairs and ensur
compliance with regulatory obligations.

Sudarshan Limited, led by Mr. Raj Sudarshan and Mr. Rahul, plans to expand operations by importing raw materials from C
Japan, and Korea while exploring export opportunities, notably with Bet Ltd in Australia. CA Om advises on GST implication
corporate governance, helping set up the Audit Committee. Sudarshan Limited emphasizes innovation, quality, and compl
positioning itself for sustainable growth in the LED industry.

Mr. B.K. Gupta, Managing Director of Beta Ltd., consults CA Kumar Mishra on various statutory obligations. Discussions
encompass accounting treatment of expenses, legal cases, adherence to standards, and tax compliance. An array of inquir
arise, from land surfacing costs to tax-related matters. CA Mishra conducts Beta Ltd.'s audit, issuing qualifications concern
accounting standards and depreciation method disclosure. The case underscores the significance of regulatory compliance
accounting integrity in business operations.

Mr. Kapoor, CEO of MSNV Pvt. Ltd., consults CA Lalita on the operational dynamics of two charitable entities - ABC Founda
Ltd. and "Serving the Poor." Discussions with CA Lalita cover CSR provisions, expenditure treatment, tax implications, and
auditing of ABC Foundation Ltd. Additionally, considerations arise regarding the merger of "Serving the Poor" with MSNV P
Ltd. and its tax ramifications, emphasizing legal, tax, and accounting complexities in charitable operations

SBL completes a job for KPL, delivering via E-way bill, while purchasing machinery depreciated via straight-line method.
Insolvency proceedings initiate against KPL, led by Mr. Kailash Dave, as SBL incurs environmental restoration costs in two p
Jaiswal & Co. audits SBL, led by Mr. Amrit Jaiswal, highlighting errors from a new accountant. The case delves into business
transactions, depreciation, insolvency, environmental obligations, and auditing challenges faced by SBL.
Mr. Rawal and friends discuss Accounts, Audit & Tax, CA Hariharan recommends Internal Auditors. CA Hariharan explains
Internal Audit benefits and legal mandates, appointing CA Ravi Mehta for Annapurna Trading Pvt. Ltd. Mr. Rawal emphasiz
accounting policies for inventories and fixed assets, detailing product lines. Reclassification of a building to investment pro
is noted, with CA Ravi discussing profit calculation, financial statements, and expenses. The case underscores internal audi
significance, accounting precision, and compliance adherence for Annapurna Trading Pvt. Ltd.

Mahajan Food Products Ltd. grapples with accounting, tax, and legal hurdles amid global expansion. The Board enlists Sha
Pahwa & Co. for consultation, led by CA Grace Pahwa. A workshop addresses related party transactions, tax laws, with pra
examples provided. The engagement team, including CA Kashish Jain and CA Mohan Sharma, will conduct audits, emphasi
compliance and efficiency in processes.

Akash, Bhawanmeet, and Rupali, Chartered Accountants and friends, plan a partnership firm. Saman Pvt. Ltd. appoints CA
as statutory auditor, while Aman Saini seeks compliance insights. GST reconciliation, post-supply discounts, and legal quer
discussed with CA Akash and CA Rupali. Aman seeks CA Bhawanmeet's aid for a forensic audit amid financial irregularities,
illustrating the multifaceted role of Chartered Accountants in business compliance and operations.

Raman Bal started a successful content writing business, which later expanded into Quality e-Contents India (P) Ltd. With t
help of Japanese venture capital, the company ventured into printing. Despite initial reservations from some executives, th
decision to install a printing press was approved. However, complications arose during the import of printing machines, lea
to negotiations and adjustments in pricing. The case study highlights the entrepreneurial journey of Raman Bal and the str
decisions made to diversify and expand the business.

CURE Pharma Pvt. Ltd. is a leading pharmaceutical company with a focus on innovation, quality, and social responsibility. T
company has achieved significant growth in revenue and market share, driven by its commitment to research, developme
global expansion. It has invested in state-of-the-art facilities and technologies, positioning itself as a leader in the industry.
However, certain governance issues, such as an adjourned AGM without member consensus and compliance concerns, hig
the need for improved corporate governance practices. Additionally, the company's financial performance reflects its succ
and strategic investments in growth and sustainability.

ABC Ltd. operates in the advertisement and manufacturing sectors, with a significant portion of its revenue coming from X
for advertisement services. The revenue recognition and audit process for ABC involve complex agreements with XYZ, inclu
commission/service fees and expenses paid to third-party vendors. The auditors discovered similarities in invoices for cert
expenses, leading to further investigation into contractor agreements and payment verification. Lack of internal controls a
documentation raised concerns about tracking labor movement and statutory dues.

TOTAL TEA Limited, a prominent player in the tea industry, is committed to producing high-quality tea while adhering to et
and sustainable practices. With certifications like ISO 22000 and Fairtrade, it emphasizes food safety and fair trade practice
company invests in technology for efficient manufacturing and focuses on value addition through blending. Its marketing
strategies include direct contracts for higher returns. Financially, it demonstrates profitability, with a net profit of Rs. 550 l
the fiscal year 2017-18, while accounting for various expenses and income sources in its Profit & Loss Account.
POR Ltd. is a manufacturing company based in Ludhiana, known for producing chain drives used in various industries inclu
bicycles manufacturing. Sanjiv Pahuja, the Managing Director, oversees the company's operations. The company is concer
about the impact of Goods and Service Tax (GST) implementation and has engaged XYZ Co. Chartered Accountants to asse
impact and suggest new controls. XYZ Co. conducted extensive interviews and studied POR Ltd.'s existing processes, focus
purchase-to-pay and order-to-cash processes. The processes involve vendor creation, procurement, invoicing, payment, an
reconciliations, all managed through various applications including WSM ERP. Additionally, the company's financials includ
revenue, expenses, and taxation details, reflecting its adherence to regulatory requirements.

Josch, a young entrepreneur, founded 21st Century Content, later Quality e-Contents India (P) Ltd., initially focusing on con
writing. The company experienced steady growth, especially during the global recession, leveraging its high-quality conten
unique service offerings. In 2011, it was incorporated as a private limited company and attracted investments from Japane
venture capitalists. Josch proposed expansion into the printing business, leading to discussions within the company. Despi
challenges and considerations, the company decided to invest in new printing machinery, importing one from Iceberg in
Germany. However, negotiations led to a change in the contract price, impacting the financial arrangements.

SZ Ltd., a car manufacturing company, demonstrated resilience and innovation by introducing automatic transmission
technology to the Indian market. It invested in R&D and production capacity to meet customer demands and regulatory
requirements, achieving notable success. Despite challenges like labor issues, the company sustained growth, focusing on
customer satisfaction and product development. Additionally, its director, Mr. A, sought financing for a residential project,
leveraging the company's reputation. The financial performance and corporate governance of SZ Ltd. remained strong, refl
in its credit rating and certifications.

Mr. P, an HNI client, seeks advice from CA M regarding taxation on mutual fund redemptions and legal requirements for
purchasing a villa in Goa from Mr. Christopher, a non-resident Indian. Mr. P's investment portfolio includes debt and equit
mutual funds, and he plans to redeem his investments to fund the villa purchase. CA M discusses potential tax implication
investment avenues for non-residents, and repatriation modalities with Mr. P and Mr. Christopher. The case involves
considerations of capital gains tax, legal compliance, and international tax regulations.

The article highlights the burgeoning start-up ecosystem in India, focusing on GrowFine, an ed-tech start-up. GrowFine,
recognized by DPIIT, aims to revolutionize education with affordable quality content. The founders seek clarity on income
benefits for start-ups, explore employee stock option plans (ESOPs) to attract talent, plan mergers for scalability, and face
challenges in valuing their venture for investment rounds. The case underscores the importance of policy support, talent
acquisition, and strategic planning for start-up success in India's dynamic business landscape.

FST Limited, a garment manufacturing and exporting company, faces scrutiny from the Income Tax Department and the Ce
Goods and Services Tax (CGST) Division. The Income Tax Department conducts a TDS survey, identifying short-deduction o
on payments to various service providers and non-deduction of tax on certain transactions. The CGST Division flags FST Lim
as a "risky exporter" based on risk analysis by DGARM, leading to further investigations into GST compliance. Issues related
GST input tax credit (ITC) on destroyed raw materials, reverse charge mechanism on security services, and reversal of ITC o
exempt supplies are raised. The company is required to respond to show-cause notices and submit extensive documentati
address the identified issues.

Home Fab Pvt. Ltd., a textile manufacturer, encounters tax challenges in its operations:
Para A: Commercial production begins after construction completion, yielding profits in 2023-24.
Para B: Export sales invoicing debates arise over currency and exchange rates.
Para C: Internal GST team faces confusion on GST liability discharge and refund procedures.
Para D: Expenses on machinery import and construction services incur IGST during FY 2023-24.
ABCD Ltd., led by Mr. Rahul Dev, aims for global expansion, seeking guidance from CA Nitin Garg on legal and tax complian
Queries arise on GST implications for export transactions via intermediaries and participation in international trade fairs. R
also seeks clarity on import transaction valuation and taxability under GST, including clearance of warehoused goods.

Luminous Ltd. faces shareholder consent debate over sales, while AGM addresses director retirement. Director Baldev ear
fees; GST oversight in panel transfer from Ludhiana factory to showrooms.

Mr. Murli Lal & Mrs. Bansuri Devi, owners of an agricultural and dairy farming business, seek guidance from CA Puru to set
company in Mumbai for expanding their operations. With Puru's assistance, they establish M/s. Bansuri Pvt. Ltd. and enco
various financial and tax-related matters, including borrowing funds, acquiring stakes in other companies, and navigating G
regulations for their tea business. Additionally, Mr. Babu Lal seeks tax advice from Puru regarding alimony payments and
partnership arrangements for his family's business.

LWS & Co., a prominent chartered accountant firm, assigns tasks to its articles to assist partners in various projects. Subha
works on the applicability of Ind AS for Shivalik Construction Private Limited, while Ashish calculates the tax liability for MV
Private Ltd. based on its financials. Manoj assists CA Sakshi Ahuja in handling customs-related matters for SSI Pvt. Ltd.'s
machinery import from the USA. Each task requires detailed analysis and expertise in different areas of accounting and tax

Manu and Tanu, MBA graduates turned entrepreneurs, started MBA Private Ltd. to venture into defense sector manufactu
With Shyam as a shareholder, they navigate various financial matters. The company adheres to Indian Accounting Standar
AS) and engages in transactions like providing loans, acquiring other companies, and entering service contracts. Anu appoi
Kumar as an alternate director during his absence, and modifications are made to service contracts with NP Ltd. The CFO e
compliance with relevant laws and regulations, guiding the company's financial decisions.

Sahana, a graduate from IIM Bangalore, seeks assistance from Madan, a Chartered Accountant, for accounting, taxation, a
compliance matters related to Sah Fashions Ltd. Issues discussed include depreciation calculation on plant and machinery,
impairment assessment of goodwill, compliance with Companies Act regarding managing director's contract, board
appointments, and individual tax matters regarding the purchase and renovation of a residential flat. Madan advises Sahan
these matters to ensure legal compliance and optimal financial management for her business and personal affairs

Apara and Sampad, partners at Apara Sampad & Co., met with Ramnik, the VP Finance of Greenly Ltd, to discuss various fi
matters including laundry service pricing, CSR expenditure, land sale transaction, and potential appointment as statutory
auditors. During the meeting, Ramnik also shared personal financial information regarding remittance under the Liberalise
Remittance Scheme for his daughter's education abroad. Additionally, CA Mani, the internal auditor of Greenly Ltd, inform
Apara about his audit engagements, including a listed entity. These interactions present opportunities for Apara and Samp
firm to expand its client base and enhance its reputation in the industry.

WTL is seeking to fill the vacant CFO position and has invited fifty competent candidates for interviews. The interview proc
involves assessing candidates' knowledge and expertise in various financial, accounting, and regulatory matters. Key issues
discussed during the interviews include foreign currency transactions, financial assistance from overseas subsidiaries, corp
governance compliance, director resignations and appointments, and accounting for share-based payment schemes in bus
combinations. These issues highlight the complexity of WTL's operations and the need for a skilled and knowledgeable CFO
navigate them effectively.
The case study discusses the phenomenon of "reverse brain drain," where skilled individuals return to India from overseas
bringing valuable knowledge and experience. Mr. Pardeep, a returning individual, has various sources of income and asset
abroad, which he seeks to manage appropriately in India. Meanwhile, Technologies Ltd. is considering restructuring its div
with plans to sell Division Mobiles to Mobize Ltd. for 50 crores. This involves the issuance of new equity shares to shareho
of Technologies Ltd. in proportion to their holdings.

During a meeting between BASP & Co. Chartered Accountants and ABC Private Ltd., several financial and operational matt
were discussed. These included the expenditure for establishing a new unit, investment in equity
shares, GST implications on supply of air conditioners, payments to a non-GST registered entity for transport services, fina
performance of the company, and the political involvement of one of its directors. Additionally, Jay sought assistance from
& Co. for Merun, a friend and fellow Chartered Accountant, who needed support in reviewing financial statements and au
reports for quality control purposes.

Kapoor & Co., a prominent firm of Chartered Accountants, is approached by various clients for their expertise in different a
such as company law, direct taxation, GST, and audit. They handle diverse issues ranging from appointment of directors, c
investments, depreciation calculations, to tax implications on payments and GST compliance. Partners of the firm specializ
their respective fields and regularly meet to discuss current topics and challenges in the industry. They aim to provide
comprehensive solutions and advice to their clients, ensuring compliance and efficient financial management.

Refresh Tea Ltd. (RTL) emerged from a leaf producer to a leading tea company since 1935, dominating 60% of India's tea m
With a global market value of $45-50 billion, RTL eyes TKP's stake to expand globally. RTL's robust risk management and
adherence to Ind AS ensure resilience and financial transparency amidst market expansions.

Prime Tea Private Limited (PTPL), established in 1938, combats inflationary pressures by introducing "Al Tea" blend. Despit
profitability, PTPL faces sales stagnation due to increased competition and delays in restocking requests. Investigation reve
production challenges, causing delays in tea leaf procurement. Senior management defends departments in a meeting,
highlighting communication gaps and the need for improved information systems to address sales issues effectively.

Prime Tea Private Limited (PTPL) faces sales stagnation despite profitability, prompting CEO Mr. Kumar to seek solutions. S
agents highlight challenges of extensive travel for minimal commissions, affecting regular sales calls. To remedy, agents pr
reducing travel or increasing commissions to boost sales efforts and tap into untapped markets for PTPL's "Al Tea" brand.
Adjusting commission structures could incentivize agents and expand PTPL's market reach efficiently

KG Airlines, a prominent Indian aviation player, navigates challenges amid the pandemic, aiming for expansion and efficien
Transitioning to a low-cost model, it focuses on domestic routes, with plans for fleet growth and enhanced connectivity.
Strategies include digitalization, ancillary services, and the Balanced Scorecard approach for operational efficiency and
performance measurement. Despite challenges like rising costs, KG Airlines remains committed to growth and customer
satisfaction in a competitive market.

Yantra Pedasu Ltd. (YPL), a steel company, appoints Chappan & Co. as its auditors and acquires a majority stake in SYD Pte
(SPL). With Mr. Sunil Verma as MD and Mrs. Sunita as a director at SPL, YPL tackles challenges like GST compliance, CSR
donations to SKT, and machinery procurement from Dusham Ltd. Engaging in international trade, YPL supplies steel pipes
and UPL while hedging foreign currency risks in the forward market.
M/s. XYZ and Associates' Pune branch is tasked with auditing the subsidiaries ATPL and RTSL of M/s. Unique Equipments a
Foundries Limited (UEFL) before the upcoming board meeting on 10.06.2018, which will discuss potential mergers or
acquisitions. The subsidiaries, involved in Tool & Die making, Injection Moulding, Die Casting, and rubber products process
present various financial and compliance challenges, including accounting standard non-compliance, government grants, p
revisions, political contributions, and more. Despite these issues, the Finance Director expects a clean opinion on the finan
statements to support ongoing merger evaluations and prior discussions with bankers.

IECL, a manufacturing company specializing in CNC machine components, is facing challenges in controlling costs and impr
profitability due to increasing competition and pressure on margins. The company's management structure is driven by a b
of directors with representation from Mr. Venkiah Reddy and Carl Walther GmbH Germany. The company's product line,
competition landscape, and cost overview indicate the need for strategic measures to enhance market share and reduce c
The proposed solutions include revising the budgetary process, exploring export opportunities, introducing incentive-base
compensation, modernizing production techniques, and implementing transparent reporting processes. These initiatives a
increase market size, reduce variable costs, and improve overall efficiency and profitability.

CURE Pharma Pvt. Ltd., a leading pharmaceutical firm, excels in innovation and affordable healthcare solutions. With signifi
achievements in tuberculosis drugs and market share, the company emphasizes employee well-being and social responsib
AGM discussions and compliance responsibilities under the Companies Act, 2013, highlight governance priorities. Financia
robust, CURE Pharma aims for sustained success through innovation, quality, and social responsibility initiatives, driven by
strategic planning and disciplined execution.

TOTAL TEA Limited, with 40+ years in the tea industry, prioritizes quality, sustainability, and community development. Ope
across tea estates, blending units, and marketing offices, it emphasizes ethical practices and certifications. Leveraging tech
for efficiency, it manufactures two tea brands, controlling quality through in-house blending. Financially robust, it reported
550 lakhs net profit, detailing debits, credits, and transactions with More Tea Pvt. Ltd., while upholding its legacy in ethical
business practices.

Tom & Tinken Limited, amidst a finance department transition, appoints a new CFO to address audit challenges and ensur
regulatory compliance. Key priorities include team transformation, audit completion, and maximizing shareholder value. A
concerns and accounting matters, such as accruals and intercompany transactions, require resolution. The CFO must also h
Company Secretary issues and provide feedback to the CEO for effective financial management.

Rising Star Limited, a subsidiary of Super Star Limited, faces audit challenges amid a global recession in graphical image
development. Key issues include asset verification, contingent liabilities, and related party transactions. The audit team un
discrepancies, undisclosed liabilities, and potential risks, raising concerns about compliance and financial accuracy. The Lea
Client Service Partner must address these findings to ensure accurate and compliant financial reporting.

Mars Construction Ltd., a leading conglomerate in India's construction and manufacturing sector, upholds strong corporat
governance and social responsibility. Its financial statements for the year ended March 2019 reveal diverse transactions
including interest payments, damages, and gains. Audit highlights encompass material uncertain tax positions and conting
liabilities, reflecting the complexities of financial reporting for such a large entity.

VayuSanchar Limited, a major telecom player in India, competes fiercely in high-speed broadband services, emphasizing
customer satisfaction and employee welfare. Financially sound, it reported a net profit after tax of Rs. 1,40,00,000, comply
with regulatory standards. However, legal disputes with the Department of Telecommunications and customs duty claims
uncertainties. The case study offers insights into the competitive telecom landscape and regulatory challenges in India
Soil Elements LLP, founded by Akhil, Nikhil, and Sahil, aims to revolutionize agriculture in India through precision farming. T
offer soil and plant testing services using special purpose machines imported from the Netherlands. The company plans to
onboard farmers through a mobile application and hire sales representatives to collect samples. Additionally, they have en
Indosys for mobile app development, budgeted marketing campaigns, and devised subscription plans for farmers. Despite
operational costs and interest from angel investors, Sahil is advised to wait for better valuations and resolve any issues wit
minimum viable product before seeking investment.

Rahul Jain, along with Riya and Rohan, conceptualizes Haryali Private Limited, a technology-driven start-up aimed at provid
gardening services and promoting environmental conservation. The venture will offer products like pots, flowers, seeds, an
gardening services through various channels such as a website, mobile app, and phone calls. They opt for a private limited
company structure to avail benefits and comply with legal requirements. Taxation incentives under Section 80-IAC are exp
and costing techniques, including Activity-Based Costing (ABC), are evaluated to assess profitability. The start-up, with the
"Greener than Ever," is set to operate initially in Ludhiana, with plans for future expansion nationwide.

Ahuja Designs Incorporated, a UK-based furniture designing company led by Mr. Ramesh Ahuja, is considering investing in
Mr. Tandon, the General Manager, consults CA Vishal from M/s G & Co. for assistance in setting up their business in India.
Vishal provides detailed advice on the legal and taxation compliances involved in establishing a foreign company in India. H
recommends opting for a private limited company structure due to its ease of registration and compliance. CA Vishal also
explains the taxation rules for foreign companies in India, including the determination of Place of Effective Management (P
and taxation based on global income for residents. Additionally, he outlines the process for identifying Active Business Out
India (ABOI) and discusses the implications of employees or directors visiting India for business purposes. CA Vishal assure
firm's commitment to providing comprehensive services to facilitate Ahuja Designs Incorporated's entry into the Indian ma

CA Ankit Bansal, a newly qualified Chartered Accountant, desires to join his father's well-established CA practice. However
father, FCA Vivek Bansal, insists that Ankit first gain practical experience by working in the office as an employee for 6-8 m
before assuming any leadership roles. Ankit is tasked with studying GST and applying it practically in the office, along with
learning about professional ethics in the CA profession. He is also assigned to work on the family's accounts and prepare in
tax and GST returns. Ankit learns about the applicability of GST and income tax to CA firms, including the requirements for
registration, invoicing, and payment of taxes. Additionally, he gains insights into professional ethics, including the fundame
principles and threats to compliance. Ankit proposes putting up the firm's name board at their residence to cater to clients
his father denies permission, citing ethical considerations. Ankit decides to work as an individual CA for one year before jo
his father's firm as a partner, having gained valuable experience under his guidance.

Mahajan Food Products Ltd., a key player in food processing, grapples with accounting and taxation complexities amid its g
expansion. Seeking solutions, the board turns to Sharma Pahwa & Co., led by CA Grace Pahwa. Grace conducts workshops
focusing on related party transactions, accounting standards, and taxation nuances like GST and income tax provisions (Se
40A). With practical examples, she empowers Mahajan's team and assures ongoing support for audit-related concerns.

STYZ Limited, a furniture manufacturer, grapples with corporate governance and accounting challenges: director absentee
resignation confusion, audit committee constitution disagreement, impairment loss calculation difficulties, intercompany
transactions complexities, and supply chain challenges. These issues underscore the significance of robust corporate gover
compliance, and accounting practices for operational smoothness.

Rahul, a Chartered Accountant, conducts an Ind AS impact analysis for HIM Limited, addressing fair value measurement,
deferred tax, and intangible assets. He oversees the internal audit of Rudra Pvt. Ltd., resolving property sale and GST comp
issues. Additionally, Rahul provides guidance on the appointment of auditors for Big Pvt. Ltd., considering statutory audit
restrictions under the Companies Act, 2013.
1. Akshay, Vice-President of Finance at Kishaniti Limited, manages financial operations and rental payments.
2. Rohit, an accountant at Kishaniti Limited, seeks Akshay's assistance in determining the net payment for TDS and other
statutory liabilities for March 2020.
3. Akshay reviews company transactions and helps Rohit with TDS calculations and entry treatments.
4. The directors of Shivalik Private Limited wish to opt for the composition scheme for tax purposes.
5. Relevant financial and transactional data are provided for analysis and decision-making.

1. Rainwear & Co issued invoices to various recipients, including registered and unregistered parties.
2. Employees, Mr. Raj and Mr. Aditya, have specific tax-related situations regarding salary, social security contributions, an
income tax return filing.
3. Mr. Evrick seeks clarification on the taxability of interests earned on deposits made in an Indian company.
4. Mr. Evrick's wife has investment-related queries regarding shares and bank deposits in India.
5. Rainwear & Co incurred legal fees for a trademark violation case.
6. M/s Dushyant & Co engages an unregistered transporter for the first time for goods transportation.

1. HW Limited engaged in various transactions related to the sale of land, purchase of machinery, Corporate Social Respon
(CSR) Committee formation, GST registrations, inter-branch transfers, sales to individuals, engagement of contractors, sup
goods for finishing, and payments to various individuals.
2. The company also faced auditor resignation issues during the financial year.
3. Transactions involved monetary and non-monetary considerations, including bond investments, machinery rent, and re
building usage.
4. Certain transactions required specific attention, such as CSR Committee formation, GST registrations, and auditor resign

PowerTech Solutions Pvt. Ltd. swiftly developed H2Ox, a device aiding farmers, and launched it after incorporation, yet lac
formal board meetings initially. Despite modest revenue and a net loss initially, the company's van campaigning boosted s
prompting consideration of in-house manufacturing. Atul's analysis of manufacturing costs preceded a lucrative offer from
Sachin More, culminating in substantial revenue growth in the following financial year.

Mahima Consumer Products Limited, a consumer goods manufacturer, transitions to mandatory CSR activities under the
Companies Act, 2013. Seeking guidance from Nayyar & Co., the Board navigates CSR provisions, policy formulation, and ta
implications. Expenditure disclosure requirements and the treatment of unspent funds are key considerations, as the com
commits to philanthropy, exemplified by initiatives like building donations for community benefit.

Annapurna Trading Pvt. Ltd., led by Mr. Hasmukh Rawal, has flourished under his leadership. CA Hariharan suggests appoin
Internal Auditors to bolster controls and assist in statutory audits, defining Internal Audit as enhancing governance. Certai
Companies Act, 2013, criteria mandate internal auditor appointments, requiring qualifications in accounting, finance, law,
management. CA Ravi Merta assumes this role for Annapurna. Mr. Rawal directs Merta's focus on accounting policies, inve
valuation, fixed assets treatment, and tax calculation accuracy. Financial statements highlight tax compliance consideratio
prompting Merta to rigorously analyze provided statements for accuracy and compliance.

Deepak, advised by Aakash, ventures into business, connecting with Dujon Sobers to supply biometric machines to Univers
Bank. Samples sent from Biotechno Private Limited are well-received. Resigning from Iktara Limited, Deepak forms Softbha
Private Limited with support from Iktara's directors. Softbharti appoints an auditor, engages in philanthropy, and invests in
Private Limited. Financials for the year ending March 31, 2021, show revenue, expenses, assets, liabilities, with pending
adjustments including deferred tax and actuarial gains. Despite proposing dividends, defaults on statutory payments occur
disregarding MAT calculations for the fiscal year.
1. GLA Enterprises Pvt Ltd. receives orders from Tada Motors and Force Motors for automotive components.
2. The company is considering in-house production for better quality and faster output.
3. Transportation and overhead costs vary for servicing Tada Motors and Force Motors.
4. The board meeting agenda includes closing audit points raised by the auditor for FY 2020-21 and financial decisions with
term implications.
5. Audit points include incorrect GST input credit, delayed EPF deposit, misclassification of repair expenses, undocumented
deduction on contractor payment, and a compromise settlement with a creditor.
6. As a business consultant, you are called to provide consultancy on financial decisions and address the audit points raised
the auditor.

1. Cheerful & Healthy Limited and Calm & Helpful Private Limited are manufacturing companies.
2. Cheerful & Healthy Limited underwent a Special Audit directed by the Assessing Officer for the financial year 2018-19.
3. Mr. H raised queries regarding the necessity and procedure of the Special Audit.
4. Four years ago, the net worth of both companies was provided.
5. Mr. X and Mr. Y discussed the appointment of tax auditor and internal auditor.
6. Mr. X suggested GST registration only for the main office, while Mr. Y stated that PAN is not required for GST registratio

M4 Home Private Limited swiftly navigated challenges posed by the COVID-19 pandemic, completing its premises construc
and initiating commercial production of textile made-ups by September 2020. The company achieved significant export tu
of Rs. 50.00 crores by March 2021, predominantly in the USA market, benefitting from a duty drawback of Rs. 2.00 crores.
Committed to compliance, M4 Home availed input tax credit of Rs. 2.00 crores under GST and adhered to GST law provisio
ensuring seamless operations amidst regulatory requirements.

PQRST & Co., an audit firm, tackles accounting and taxation issues for clients like Hamba Manufacturers Ltd. and Talktime
Telecom Pvt. Ltd. Mr. T resolves revenue recognition dilemmas using accounting standards, while Mr. S aids in tax matters
Regulatory compliance, including audit firm ceiling limits, is ensured by Mr. T, highlighting the firm's commitment to profe
excellence and client support.

The case study outlines engagements of Gautam Agrawal & Associates with various clients across different sectors. It high
specific challenges faced by each client, such as tax discrepancies, company law compliance issues, and project implement
hurdles. The firm's expertise and tailored solutions enable clients to navigate these challenges effectively, ensuring compli
and optimal business outcomes.

Ideal Fabrics Ltd., a leading textile manufacturer, faces various challenges and decisions across different aspects of its oper
These include determining managerial remuneration, navigating GST regulations for interstate transactions, understanding
TCS provisions, and managing currency fluctuations. The company's management seeks guidance from professionals like t
Company Secretary, CFO, and statutory auditor to ensure compliance and make informed decisions

LWS & Co., a prominent Chartered Accountant firm, faces diverse challenges across its client base. From assisting with rev
recognition for construction contracts at Shivalik Construction Private Limited to calculating tax liabilities for MVS Private L
and handling custom-related matters for SSI Pvt. Ltd., the firm's partners and articles collaborate to provide specialized ser
tailored to each client's needs. The case highlights the firm's expertise in areas such as IndAS applicability, income tax plan
and customs regulations, showcasing its commitment to delivering comprehensive solutions across various industries.

SSP & Co. LLP, a renowned Chartered Accountancy Firm, implements unique strategies to motivate and train its Articled
Trainees. This year's winning trainees, Pratham, Shivam, and Ragini, are assigned crucial roles under the guidance of senio
partners. Pratham assists in tax audits, Shivam leads accounting projects, and Ragini conducts TDS audits for major clients
firm. The case study delves into their specific responsibilities, including assessing tax audit applicability, accounting for
government grants, and ensuring TDS compliance. Through these assignments, SSP & Co. LLP demonstrates its commitme
fostering talent and delivering high-quality services across various industries.
Mr. Hari Mehta, an Indian businessman based in Thailand, seeks to expand his business globally, with a focus on investing
India. He explores three options with CA Vani Mehta, an expert consultant in international business matters. Option A invo
acquiring controlling shares in Golden Rivers (P) Ltd., an Indian associate company of RPP Ltd. Option B entails conducting
diligence on ABC Ltd., a listed Indian company in the industrial gas business, for potential acquisition. Option C involves
incorporating a new company in India, with capital investment from Mr. Mehta's Thais counterpart, for infrastructure
construction. The case study highlights the importance of understanding international laws, particularly transfer pricing
regulations, and concepts like Place of Effective Management (POEM) in the context of foreign companies operating in Ind

Prag Bhara Ltd. (PBL) and Samya Ltd. jointly acquired shares in Vasudhara (P) Ltd. (VPL) and contributed to a cash call for
purchasing machinery. PBL sold one of its machineries to VPL. PBL also invested in Kwick Tiles Ltd. and deemed it as an ass
PBL borrowed funds from Jharkhand Co-op Ltd. for a new project and passed a resolution for share buy-back. During the a
Samya Ltd., the auditors faced difficulties in obtaining audit evidence about the financial information of VPL.

Happy Homes Limited appointed Mr. Happy as Managing Director for ten years, navigating the legal provisions of the Com
Act, 2013. A resolution was proposed to appoint Mr. Joy as a whole-time director despite his age exceeding 70 years, with
statutory authorities providing guidance. The company engaged in outsourcing gift sets and claimed Input Tax Credit (ITC)
GST. A successful carnival faced theft issues, impacting financials. Cost management strategies, including activity-based co
were implemented with the assistance of JAY & Company. GST compliance was ensured, with ITC claimed and GST paid on
various supplies. The company faced challenges such as breach of contract compensation and losses on investments.

Supatra Foundation, a charitable trust, receives donations from Jas Jagish Ltd. and its associate company, Nishalya Ltd., for
philanthropic activities. The donations are specified to form part of the trust's corpus. However, tax deductions on donatio
differ due to provisions under section 80G of the Income Tax Act. The trust undergoes a change in accountants, with the n
accountant needing assistance in computing GST liabilities for various transactions, including rental income, educational
programs, and services received. Additionally, the trust seeks audit services from Mr. Harsh Vora, who has connections wit
partner firm where an employee of the trust works

Kundan Gems Pvt. Ltd. faces challenges due to the decline in exports caused by the Covid-19 pandemic and decides to inve
surplus funds in property. They seek advice on accounting treatment from CA Milin Shah. Sensque Technologies Pvt. Ltd. p
restructure its business by selling its software division, consulting CA Neil Shah for guidance. All-in-one Option Ltd., an FMC
company, encounters various risks such as fluctuating demand, intense competition, and supply chain disruptions. They
contemplate appointing an internal auditor to mitigate risks, particularly concerning purchases from related parties. Additi
Mr. Fenil faces a loss in share value in All-in-one Option Ltd., highlighting market volatility.

Kiramji Ltd., an unlisted public company, decided to borrow a loan of 3 crore for constructing a new building. Mr. Dishant
Kiramji, a promoter and director in the company, purchased a house property with a loan guaranteed by Kiramji Ltd. His
grandfather, Mr. Jayesh, also owned a house property. The case highlights financial transactions, construction activities, an
property ownership within the Kiramji family.

Waqt Ltd., a public company in the textile business, faced investigation by the Central Government, prompting action agai
employee and a dispute over valuation methods for its investment in Utpal Ltd. It reported income from various sources
including business operations, dividends from overseas, and rent income. Additionally, it engaged in international transacti
subject to Double Tax Avoidance Agreements and transfer pricing regulations.
Vratam Ltd., an unlisted public company, faced a contractual dispute resulting in arbitration, where it received a favorable
award. It also undertook valuation of its investment in Kiyat Ltd. based on a similar transaction involving Rasam Ltd. Additi
Vratam Ltd. encountered scrutiny from the Assessing Officer for its international transactions with Kruava Co., leading to t
pricing adjustments. Despite appealing to the ITAT and obtaining a reduced adjustment, Vratam Ltd. faced challenges in
repatriating excess funds and eventually paid additional income tax.

Apsfion Ltd., an unlisted public company, appointed Mr. Himanshu as Managing Director but later terminated his services
questionable transactions. Disputes arose, and interim compensation was paid. The company utilizes an e-commerce platf
provided by Fsell Inc. for its domestic supplies. However, discrepancies in tax filings by Fsell Inc. led to rectifications and
payments of shortfalls. Additionally, Apsfion Ltd. engaged in various supply transactions, including goods, repairing service
carpentering services, some of which experienced returns and involved non-GST registered suppliers.

Asayam Ltd., an unlisted public company in the automobile industry, appointed Mr. Jayprakash Sharma as a nominee direc
and proposed the removal of Mr. Rajveer Sena. Several employees had life insurance policies, and the company entered in
lease contract with Havanti Ltd. for an office building floor, with associated residual value guarantees. Havanti Ltd. also hir
machinery from Asayam Ltd. Havanti Ltd. opted for lease rentals, offering higher deductions compared to depreciation if it
purchased the assets instead.

Pranidhan Ltd., engaged in cloth garments business, faced an income tax search which revealed undisclosed transactions a
unrecorded income. The director, Mr. Prasidh Dave, undertook a private visit to the USA, purchasing tickets and currency,
receiving gifts. Another director, Mr. Jatin Saxena, remitted funds to the UK for family maintenance without proper approv
Additionally, the company manages a defined benefit plan, contributing funds and paying out benefits, with assets and
obligations valued annually.

Upal Ltd., a listed public company, faced a penalty dispute with Paryupasna HR & Accounting Services Pvt. Ltd., which was
resolved in Upal Ltd.'s favor through arbitration. The company plans to distribute profits to its employees, has a defined
contribution plan for post-employment benefits, and appointed Mr. Merumal as a director representing small shareholder
board decided to increase sitting fees for directors and consider selling an undertaking to clear a term loan. Additionally, th
company imported cloud services from Apnacart.com, subject to an equalization levy imposed by the Indian government.

Chandhriv Ltd. regularly contributes ₹1,50,000 to the Krut Foundation despite facing losses in F.Y. 2022-23. The foundation
entrusted the funds to CA Matvar, who deposited them in his father Mr. Soham's bank account. Mr. Soham, a resident Ind
used his saving account in Apna Tree Bank for personal transactions and business payments, including commissions, const
expenses, and purchases from Mr. Nartan. Mr. Nartan, a wholesaler, made various international remittances under the
Liberalised Remittance Scheme (LRS) for personal and educational purposes. CA Matvar, appointed as Mr. Nartan's tax aud
noted certain financial transactions during the tax audit for A.Y. 2023-24, including interest payments and a forfeiture clau
related to plant and machinery sale.

CDT Hospitality, a business trust, generates income from various sources including interest, dividends, capital gains, and re
income. It distributes ₹51 lakh to unit holders, including resident and non-resident holders. The trust writes an option cont
for the sale of shares to Mahishi Ltd., involving one of its trustees, Mr. Raman. In the financial year 2022-23, the trust incu
unanticipated costs due to a latent defect in a product, impacting its financial statements. Meanwhile, M/s Digubatti &
Associates face challenges in obtaining audit evidence regarding a joint venture investment in Mahim Ltd., affecting the
consolidated financial statements of Mahishi Ltd.
Xaviers Logistics Limited (XLL) operates in the logistics and warehousing sector with two Container Freight Stations (CFS) in
Pradesh and Delhi. It handles container services, freight forwarding, and trading activities primarily focused on exports. XL
challenges with GST registration for its Delhi unit, crossed the turnover threshold, and dealt with e-way bill issuance issues
also handles green cess deposits, transit services to Nepal and Bhutan, and contracts for sea transportation to destinations
Sri Lanka. Additionally, XLL collaborates with UdakChem Ltd. for water treatment chemical deliveries and supports the
educational pursuits of directors' family members to benefit the company's operations.

Mr. Tushnim, a property dealer, sold a building to Mr. Swairam at a price below the stamp duty value, with a down payme
received earlier. Similarly, Mr. Rusht, a managing director, sold a residential house to Mr. Vidhaay below the stamp duty v
with a down payment received at the time of agreement. Nishkantak Paths Limited, a listed company, proposed manageri
remuneration plans, including commissions and additional remuneration for professional services. The company also class
its subsidiary, Aviskrutya Ltd., as 'held-for-sale' and presented it as a discontinued operation in its financial statements due
intentions of divestment, although no active sale efforts were made initially, and some organizational changes occurred w
the group.

A-Home Fab Private Limited, a textile manufacturing and export company, commenced operations in May 2022 and achiev
significant profitability by the fiscal year 2022-23. The company successfully exported its textile products under the brand
Fab to the USA, capturing a substantial market share. However, its inhouse GST team faced confusion regarding GST comp
and refund issues related to export sales, necessitating discussions and opinions on tax liability discharge and refund proce
Additionally, the company encountered complexities in importing machinery and incurred expenses for customs clearance
freight, and construction services during the fiscal year.

ABCD Ltd., a textile manufacturing company based in Surat, Gujarat, is led by Mr. Rahul Dev, who is focused on globalizing
business and expanding operations across Europe and Canada. He seeks guidance from CA Nitin Garg regarding legal
compliances, GST procedures, and establishing a subsidiary in Paris. Additionally, ABCD Ltd. plans to assist ALPHA Units LLC
setting up a branch office in India. The company also seeks advice on GST treatment for various export transactions, includ
unique sales arrangements involving international suppliers. Furthermore, the company's statutory audit is being conducte
Nitin Garg & Co., with CA Krit Garg overseeing the engagement and addressing concerns related to audit strategy and mat
levels in response to internal control weaknesses.

Luminous Ltd. is a leading solar panel manufacturer with a vision to provide high-quality solar energy solutions globally. Th
company emphasizes on R&D to produce cost-effective solar panels. During FY 2022-23, the government granted funds to
support the company's research, purchase of machinery, land acquisition, and environmental protection efforts. BR. Sridha
Associates serves as the company's statutory auditors. There was a disagreement among the company's directors regardin
sale of one of its undertakings, with Mr. Ramesh advocating for shareholder consent through an ordinary resolution.
Additionally, Mr. Ramesh engaged the services of a consulting engineer for his property in the USA. The company also rece
legal services from an attorney in Dubai. During the year, the company faced challenges in filling director vacancies and pa
sitting fees to Mr. Baldev. Despite declaring an interim dividend, the company did not transfer profits to reserves. In its
operational activities, Luminous Ltd. manufactured solar panels at its Ludhiana factory and transferred them to retail show
in Patiala and Delhi, understanding that such transfers are not considered supplies under GST.

Mr. Murli Lal & Mrs. Bansuri Devi, owners of an agricultural and dairy farming business, seek to expand their operations to
Mumbai with the assistance of CA Puru. They establish Bansuri Pvt. Ltd. and engage in agricultural activities, borrowing fun
from a nationalized bank. Meanwhile, Mr. Murli Lal becomes a director in Khetibaadi Ltd., a company involved in the tea m
CA Puru advises on various tax matters, including GST treatment for job work transactions and online selling. Later, Mr. Mu
introduces CA Puru to Mr. Babu Lal, who seeks tax advice for his family, including alimony treatment and partnership profi
distribution. CA Puru provides solutions and offers his services to handle their tax-related matters.
LWS & Co., a prominent chartered accountant firm in Delhi, employs a unique training method for its articles by involving t
in practical projects under experienced partners. Subhash assists CA Harsh Bhatia in determining revenue recognition for S
Construction Private Limited under Ind AS. Ashish works with CA Nikhil Grover on tax calculations for MVS Private Ltd.,
addressing various expense items and tax implications. Manoj supports CA Sakshi Ahuja in handling customs-related matte
SSI Pvt. Ltd., including the import of machinery from the USA and associated duties and taxes. The firm's diverse clientele s
across industries such as construction, software, education, and real estate, among others, showcasing its expertise in vari
domains of accounting and taxation.

Rising Star Limited, a subsidiary of Super Star Limited, is facing financial challenges amid a global recession in graphical ima
development. The company seeks an audit before a critical board meeting to discuss potential decisions, including a merge
audit team uncovers various discrepancies, including lack of asset verification, undisclosed liabilities, unprovided gratuity,
unclaimed dividends. Additionally, contentious issues such as disputed taxes, related-party transactions, and potential lega
liabilities further complicate the audit process. The company's finance director emphasizes the importance of a clean audi
opinion for impending negotiations. The audit team must address these issues to provide accurate financial reporting and
support decision-making for the company's future.

New Gen Toys and Clothing Limited, led by a new young Managing Director, seeks advice on tax planning measures and re
sections of the Income Tax Act, 1961, for its soft toys manufacturing and fabrics/cloth businesses. The company's financial
for the year ended March 31, 2018, reveals various transactions and expenses, including bad debts, CSR expenditures, don
royalty income, interest payments, and depreciation. Additionally, the company received subsidies, incurred losses, and m
provisions for liabilities and assets. With detailed financial information provided, the company aims to optimize tax plannin
strategies and make informed business decisions.

Magma Automobiles Limited (Magnum) is considering a merger with its unlisted entity, Yamuna Fitting Works Limited (Yam
to address the latter's financial challenges. Yamuna, specialized in engineering products, has been facing losses, defaults, a
dependence on limited customers. Yasin Malik proposes the merger for strategic reasons, seeking advice on legal, financia
tax implications. The Chief Financial Officer provides insights into Yamuna's financials, highlighting its challenges and poten
synergies with Magnum. The President of Taxation raises concerns and explores tax planning opportunities, while the Com
Secretary and Financial Controller address regulatory and accounting aspects. The proposal aims to be pursued through a
scheme approved by relevant authorities and stakeholders, emphasizing professional advice and compliance with applicab
legislation.

Tom & Tinken Limited, an infrastructure company, faces challenges in financial reporting and audit due to the sudden dep
of the CFO and various open accounting matters. The new CFO, with a background in a competitor firm, is tasked with
transforming the finance team, ensuring smooth audit completion, maximizing shareholder value, and ensuring regulatory
compliance. Key issues include unresolved accounting matters, audit disputes, and governance concerns raised by the aud
team and company secretary. The CEO seeks input on financial treatment options to address liquidity challenges and impr
transparency. The CFO must navigate these challenges while transitioning to Ind AS financial reporting standards.

Ringing Bell Group, a Singapore-based company specializing in 3D printing, is looking to expand its operations in India. Mr.
Thompson, the Chief Compliance Officer, is tasked with assessing the regulatory environment and compliance standards in
Issues and clarifications are raised regarding taxation, foreign exchange transactions, recovery mechanisms, and corporate
implications. The company seeks advice on transfer pricing, GAAR, tax planning vs. evasion, foreign exchange regulations,
insolvency procedures, corporate structure, compliance committees, and statutory audit responsibilities. As an independe
consultant, providing comprehensive guidance on these matters is crucial for Ringing Bell's decision to expand its Indian
operations.
Quick & Qual Sys Limited, a Pune-based startup, is seeking funding from Ding Dong Ventures to fuel its growth in the rapid
expanding E-commerce sector. The company aims to list on the Indian stock market within the next 5 years, capitalizing on
increasing demand for last mile connectivity solutions driven by E-commerce growth. Despite facing competition, Quick &
Sys has positioned itself as a key player with support from major customers like Gamazon and Blip Kart. The company's fin
show steady growth, with a focus on innovation and customer acquisition. Ding Dong Ventures is interested in assessing th
conducting due diligence, and valuing Quick & Qual Sys to determine the investment potential. Critical evaluation of Quick
Qual Sys's business case, including financial metrics, competition landscape, promoter background, compliance controls, a
potential risks, is crucial for Ding Dong Ventures to make an informed investment decision.

Anju Texyarn Limited (ATL), a part of the Kamatchi Amman Group, is a listed company operating in the textile industry with
manufacturing facilities in South India. The company has a diverse product portfolio including cotton yarn and exports to v
countries. ATL aims to expand its capacity and diversify into other segments of the textile industry. Despite being a family-
business, ATL faces several audit challenges related to financial reporting, compliance, and operational transparency. The
team led by Ms. Pratibha identifies multiple material issues during their field audit, ranging from accounting treatment
discrepancies to governance lapses. These issues need to be addressed to ensure the accuracy and integrity of ATL's financ
statements and compliance with regulatory requirements.

X Ltd., a pharmaceutical company, is facing financial and operational challenges due to cash flow issues, undercapitalizatio
lack of financial management expertise. As a professional director and overseer of corporate accounting and finance functi
you observed deficiencies in accounting practices, inadequate financial management, and governance issues within the
company. The top management, led by the Director (Operations) Mr. A, is perceived to have significant influence over the
leading to a lack of debate and strategic discussions. The departure of the CFO further highlighted the accounting function
shortcomings, raising concerns about the accuracy and compliance of financial records. The company is considering a majo
acquisition in the US, which was not adequately disclosed to the board, raising questions about transparency and strategic
decision-making processes. In response to these challenges, you have been tasked with cleaning up the company's finance
ensuring compliance with accounting standards, raising capital, establishing banking relationships, and devising a plan for
growth and cash flow requirements.

M/s. MG Software and Exports Limited, led by its new Managing Director Mr. Daivignay, seeks expert advice from a respec
Chartered Accountant on various aspects of taxation, foreign exchange regulations, costing implications, insolvency and
bankruptcy laws, and company law compliance. With a focus on ensuring zero non-compliances and efficient managemen
regulatory requirements, the company aims to navigate the complexities of Indian business regulations under the guidanc
the Chartered Accountant. The expert's insights are crucial for the company's leadership to make informed decisions and e
compliance with applicable laws and regulations, enabling smooth operations and sustainable growth.

Digital Software Ltd., a reputable company in the IT sector, operates in multiple units in India and has subsidiaries both in I
and the USA. With a focus on good corporate governance and compliance, the company has maintained proper books of
accounts and adhered to accounting standards. As the newly appointed Statutory Auditor, your firm is tasked with auditin
financial statements for the second quarter/half-year ended 30.09.2019. During the audit, several observations were mad
including disruptions at one of the units due to natural calamities, valuation of investments in subsidiaries, compliance issu
related to ESIC contributions, land exchange transactions, reclassification of investments, forward contracts, remuneration
relatives of Key Management Personnel, and treatment of research expenditure for a new software product. Your analysis
recommendations on these matters are crucial for ensuring accurate financial reporting and compliance with regulatory
requirements.
New Gen Chemicals Limited (NGCL), a prominent player in the chemical manufacturing industry, has sought your expertise
address various strategic and compliance-related matters. Discussions include hiring a financial expert to turn around a los
making associate company, adoption of Ind AS for financial reporting, disclosures in financial statements, and tax assessme
proceedings concerning an Indian subsidiary. Additional matters concern year-end finalization, including related party
transactions, debenture redemption, property transactions, and government subsidies. Your analysis and recommendation
pivotal in guiding NGCL's management towards effective decision-making and compliance with regulatory requirements.

Paper Board Private Limited, owned by Zak, Jill, and a minority shareholder Johnson, faces acquisition challenges due to
transparency issues and concerns over fair valuation. Innovative Papers Limited, a market leader, grapples with GST refund
delays, supply chain issues, and invoicing inefficiencies, impacting profitability. Digital Papers, a partnership firm led by Ge
and Jolly, faces tax disputes post Michael's retirement, prompting a potential buyout offer amid uncertainties over tax liab
and net worth.

A retired professor is running a free coaching center for professional exams. As part of a doubt removal session, three stud
Shah, Kumar, and Patel - have raised questions regarding various aspects of company law, auditing, and accounting. They s
clarification on topics such as security cover for workmen's dues, approval of financial statements by the board and audito
joint auditors' reporting requirements, statutory auditor's examination of cost records, court's jurisdiction over internal
management, CSR provisions for charitable companies, and accounting of Certified Emission Reductions (CERs).

Jwala Mills Limited, a fast-growing company in the chemical manufacturing industry, is considering potential buyout
opportunities for inorganic growth. They have shortlisted four companies: Clean and Sweep Limited, Swatch Limited, Guru
Limited, and Dead Wood Private Limited. Each company has its own strengths, weaknesses, opportunities, and threats (SW
Clean and Sweep Limited focuses on customer loyalty but struggles to add new customers, while dealing with financial
instruments. Swatch Limited faces allegations of income tax evasion, despite its reputation and modernization efforts. Gur
Limited is expanding aggressively but considering outsourcing non-core activities. Dead Wood Private Limited has been ina
for five years and faces compliance issues. Jwala Mills seeks advice on specific matters related to these potential acquisitio

Omega Soft Tech Ltd., a technology company based in Chennai, seeks advice on compliance audit of applicable laws, regul
assessment, and financial statement preparation under the Companies Act, 2013. Mr. Ashish, the new Managing Director,
clarification on the correctness of the unaudited draft Balance Sheet for the financial year ending 31st March 2020. Additio
he seeks guidance on disclosures in the financial statements and legal remedies under the Insolvency and Bankruptcy Cod
2016, particularly regarding the prioritization of dues settlement compared to various secured creditors, including a foreig
subsidiary. The case also involves a dispute between a bank and M/s. D Ltd., a subsidiary of Omega Soft Tech Ltd., regardin
amount claimed under the Insolvency and Bankruptcy Code.

Sindhuja Foundries Limited (SFL), a manufacturing company specializing in castings, seeks advice on controlling costs and
improving profitability. Mr. S. Abhi, Special Director of Costing and Accounts at SFL, has provided details of variances in sal
production, costs, and profits for the financial years 2018-2019 and 2019-2020. Additionally, SFL prepares value-added
statements and a statement of profit and loss, seeking advice on disclosures affecting Ind AS and other matters. The comp
emphasizes transparency, collective growth, and corporate social responsibility (CSR). Concerns include widening variance
between budgets and actuals, overdue inter-corporate deposits, vacancies in the board of directors, and contributions to a
political party for a school project.
The Assessee initially filed an income tax return but later received a notice under section 148 of the Income Tax Act, 1961,
on information from the Investigation Wing regarding alleged payment of capitation fees/donations for admission of the
Assessee's daughter to a college. The Assessee denied making any such payment, but the Assessing Officer relied on inform
obtained during search proceedings at XYZ College, where a list of students and donations/capitation fees received was fo
Despite the Assessee's denial and request for cross-examination and documentation, the Assessing Officer added the alleg
payment to the Assessee's income. The Assessee appealed the assessment order, raising procedural and substantive objec
but the Assessing Officer upheld the assessment, stating that the process followed was correct and no seized documents
pertained to the Assessee. The case highlights issues related to procedural fairness, burden of proof, and jurisdiction of the
appellate authority.

M/s. New Tech Automobile Solutions Limited (NTASL), a startup company, seeks advice to ensure regulatory compliance a
governance standards. Key issues include export realization, write-off of outstanding export receivables, related-party
transactions involving statutory auditors, disclosure requirements in the annual report, board and committee composition
listing obligations, and asset impairment. Additionally, there are pending income tax assessment appeals. The company is
proactive in governance but seeks assurance and guidance to avoid regulatory pitfalls.

Ram Equipments Limited (REL), a leading air compressor manufacturer, is dedicated to innovation and corporate governan
enhance its board, it plans to appoint a new woman director and an independent woman director, alongside compliant
appointments for joint managing and whole-time director roles. However, it faces challenges including a notice from the
Assessing Officer for suspected income escaping assessment, observations on subsidiary financial statements, and a revalu
of plant and machinery, revealing details on carrying amounts and fair value.

Aroma Technologies Limited, headquartered in Chennai, India, and operating globally, is led by an experienced CEO & Man
Director, focusing on leveraging technology for client business transformation. The company maintains strong corporate
governance and a dynamic Board of Directors. As the statutory auditor for the financial year 2019-20, responsible for conti
auditing, you've received draft unaudited financial statements for the fourth quarter/year ended 31.03.2020. Observation
include TDS receivable discrepancies, depreciation methods, gratuity liability, unclaimed dividends, property disclosure, TD
compliance, budgetary variance, registered valuer appointment, and subsequent events. You aim to address these issues t
ensure accurate financial reporting and statutory compliance.

XYZ Ltd. manufactures pulley chains used in various industries and also provides consultancy services for hydraulic machin
They import machinery for their manufacturing hub in Lucknow. Mr. Rony, the Managing Director, is coordinating the
implementation of Ind AS and assessing the impact of GST on the business processes. ABC Co. Chartered Accountants have
engaged to analyze the impact of GST and suggest new controls. XYZ Ltd. uses various applications for business activities a
follows a detailed purchase-to-pay process. ABC Co. has provided examples of GST workings and calculation of customs du
clarity and implementation within XYZ Ltd.

As the new VP of Accounts and Finance at OHSIL, I'm tasked with addressing financial and regulatory concerns at the upco
board meeting. The board wants clarification on Mr. Alex's appointment as Key Managerial Personnel and Mr. 'X's as Who
Director of SOHL. Additionally, solutions for financial statement presentation and direct tax matters are needed, covering
regularization fees, depreciation, CSR expenditure, asset revaluation, and foreign borrowing. I'll provide concise insights an
recommendations to ensure compliance and address taxation efficiently.

CESL, a manufacturer of air compressors, is undergoing an audit process led by a new Statutory Auditor. Various observati
and proposals have been made during the audit, including issues related to Audit Committee meetings, replacement of
machinery, potential acquisition, theft of cash, GST audit, donations by foreign directors, and regulatory compliance of the
internal audit firm's website. The Chairman of the Audit Committee seeks solutions to address these findings and observati
AMC, a prominent player in the two-wheeler industry, seeks advice on various issues, including inventory fraud prevention
compliance with government grants, dispute resolution with operational creditors, tax implications, merger proposals, and
matters under the Companies Act. The board relies on expert guidance to address these challenges effectively.

SCSL, a significant player in the cotton yarn spinning industry, has appointed the audit firm as its Statutory Auditors for the
financial year 2020-2021. The company aims to expand its operations in the textile chain, including processing, garments,
home textiles. The previous year's audit report was qualified due to non-compliance with a mandatory accounting standar
regarding the valuation of a high-valued property owned by the company. The senior partner, CA. SN, expresses a lenient
approach towards the issue, emphasizing the importance of maintaining a good relationship with the client, considering it
family business. However, you prioritize professional independence and skepticism, aiming to conduct a thorough audit an
report any discrepancies or non-compliance appropriately to ensure transparency and adherence to legal requirements.

STAS, a women-led start-up, has achieved significant success within a year of its establishment, securing contracts with bo
Indian and foreign automobile companies. The company faces challenges related to financing its operations and managing
working capital despite its rapid growth. Key issues include outstanding export invoices, changes in accounting methods, c
expenditure on new technology, and ethical concerns regarding the conduct of the statutory auditors. Additionally, legal m
such as recovery of dues from defaulting customers and tax appeal proceedings are also of concern to the company. The
promoters seek strategic financial management advice, innovative financing solutions, guidance on financial reporting, dir
taxation, and legal compliance under FEMA 1999 and the Insolvency and Bankruptcy Code 2016 to address these challeng
sustain their growth trajectory.

The case study presents proposals from six different companies seeking advice on various business matters:
1. KGL aims to reduce rejection rates of LED lamps through improved inspection processes.
2. GL plans to acquire ML through merger, with an outstanding inter-corporate deposit (ICD) and concerns about merger
implications.
3. EGIL faces challenges due to aggressive pricing by competitors and seeks advice on adjusting prices to maintain market
4. JMBCL enters into a contract with ICCB for the supply of cakes and biscuits, including a dispute resolution clause.
5. SBTL deals with a petition against oppression and mismanagement by minority shareholders.
6. SSL faces an issue related to bonus payment to employees and its treatment in the income statement.

These companies seek guidance on various aspects such as quality control, merger implications, pricing strategies, contrac
terms, minority shareholder rights, and employee benefits.

PB Private Limited, IP Limited, and DP (Regd.) face various challenges in their respective industries. PB Private Limited seek
guidance on shareholder acquisition, IP Limited navigates GST refund complexities, and DP (Regd.) deals with tax disputes
partnership disagreements.

S Limited, a New Delhi-based machinery manufacturing company, with 60% shares owned by the Government of India, see
national expansion and strategic acquisitions. Facing financial and compliance hurdles, the company appoints M/s ABC Cha
Accountants for Ind AS adoption. Challenges include political contributions, fair value adjustments, and tax deduction
compliance with service providers like M/s DG Brothers Private Limited and Amit Shukla.

Telecom Inc., an American company, secured a contract from PGCIL for augmenting its telecom network across India. The
contract comprises offshore and onshore agreements with specific deliverables and compliance requirements. Mr. Swami,
appointed as Country Manager, oversees the project's execution. With a focus on local regulatory compliance, Telecom In
seeks guidance from a chartered accountant to navigate legal formalities and ensure adherence to Indian laws throughout
contract's duration.
XYZ Limited, an unlisted public company, is engaged in piston manufacturing, with 50% equity held by CDE Limited, a listed
company. The arrangement involves contract manufacturing for CDE Limited, with raw materials supplied by CDE Limited.
Notable terms include advance payment for machinery replacement, fulfilling export orders, and handling rejected
consignments. XYZ Limited faces a dispute regarding depreciation disallowance, challenging the nature of the contract
manufacturing arrangement.

Mr. HPR and Mr. NPR, former batch mates in an animation course, decided to establish an animation studio in Haryana, fo
M/s. HPNR LLP. The LLP, with both partners as designated partners, focused on various animation-related services and inv
in equipment and manpower. After securing a contract from a healthcare company, the LLP faced challenges regarding the
of software without proper licensing, prompting legal action.

Defence Innovators Limited, a public sector undertaking specializing in warship and submarine construction, entered into a
agreement with XYZ Private Limited for the construction and delivery of three specially designed ships for transporting spe
goods. The contract features a fixed price element with variable components, including base and depot spares. XYZ Private
Limited is responsible for supplying certain equipment "free of cost" for installation, reimbursing Defence Innovators Limit
procurement and installation costs. The construction period for each ship is approximately four years.

SF Limited (SFL) is a manufacturing company in the castings industry. Defence Innovators Limited operates in the defense
while XYZ Private Limited is involved in the automobile industry, specifically online shopping for automobile spares and spe
auto components supply.

PS Limited (PSL) operates in the manufacturing sector, specializing in electric circuits, boards, and switchgear. The compan
positive reputation and low employee turnover due to its family-oriented approach and profit-sharing plan. However, duri
audit conducted by NBV Associates, Chartered Accountants, led by CA B.V., a fraud amounting to 5 Crores was uncovered,
posing a significant challenge to PSL's financial integrity.

TP Limited, a listed public company trading in commodities, operates across multiple markets with offices in major cities.
Involving M/s YM Associates as auditors, the company's internal control system and auditor's report were discussed in Aud
Committee meetings. With Mr. Tara Prasad as Managing Director and Ms. Julie as Company Secretary (resigned in January
TP Limited also faces challenges with its associate company MX Limited due to disputes with creditors, prompting a schem
compromise and arrangement, overseen by the NCLT.

BMY LLP, a firm of Chartered Accountants, is approached by various clients for professional advice on different matters. Th
include assisting Tame Limited in its expansion strategy through acquisition, advising Ms. Devina on turning her homemad
products into a business venture, analyzing a lease agreement between M/s GAAR Limited and M/s GAP Limited, consider
ethical concerns regarding appointment as Statutory Auditors for M/s Foam Limited, and calculating the beta of a stock po
for an investor.

The Company, engaged in oil and gas exploration and production outside India, transitioned to Indian Accounting Standard
AS) from Accounting Standards (AS). It previously accounted for mineral rights and goodwill in accordance with AS. Howev
adopted a policy to amortize goodwill over the life of underlying mineral rights using the Unit of Production Method. This
approach is aimed at aligning the goodwill value with the depletion of mineral resources, reflecting a pragmatic assessmen
the value of goodwill. Despite the absence of specific Ind AS guidelines on goodwill amortization, the Company intends to
continue this practice post-transition to Ind AS.

HVCL received an order from ABIL for 90 T-model dumpers, supplying 64 units initially. The remaining balance constituted
onerous contract due to the cost of fulfillment exceeding economic benefits. HVCL's management defended their stance c
Ind AS 37, making provisions based on specific costs related to material, labor, and material overheads. This provision
significantly impacted the company's taxable income, resulting in a declared loss under the Income Tax Act for the relevan
assessment year.
Majestic Industries Limited, a manufacturer of power sector ancillary products, grapples with various challenges. These inc
uncertainty over claiming deductions for delayed provident fund payments, issues with CSR activity management due to th
Foundation's lack of registration, increased financial reporting requirements, and outstanding trade payables. Additionally
company has agreements with external service providers, adding to its operational complexity.

Forever Source Limited (FSL), a listed entity in the specialty chemicals industry, faces various financial decisions, including s
buy-backs, inventory valuation, online advertising expenses, sales contracts, investment in associates, and capitalization o
development costs. Additionally, there are concerns regarding auditor attendance at committee meetings. Each issue requ
careful consideration to ensure compliance with accounting and tax regulations.

M/s HK & Co. is advising JK Limited (JKL) on various matters. JKL aims to acquire a division of M/s ARP Limited and is
contemplating merging with Machine Industries Limited. However, ethical concerns arise from a suspicious transaction inv
an executive director and a potential fraud investigation with an unresponsive management. Despite financial consultants
advice, JKL's management is undecided on the merger method.

GSV Associates faces various issues with their clients. These include determining the eligibility of Mr. Shyamlesh as an
independent director, assessing the residential status of Mr. Shyam Lal for tax purposes, managing tax audits for existing c
and potential additions, computing capital gains for Mr. V. Kumar from the sale of his property, identifying related parties
Ind AS for Mr. Manish, and handling compensation for Mr. Keshav Prasad's early termination as Managing Director of Z Lim

Brightstar Limited, seeking investment from an overseas investor, is preparing its financial statements as per IFRS. It need
guidance on deferred tax treatment for its investments, property revaluation, and legal actions. Additionally, it faces
complexities regarding options exercised in CASA Ltd., acquisition accounting for Methane Private Limited, transition from
defined benefit pension plan to an industrial pension plan, and currency conversion for its subsidiary's expanding business

Manu and Tanu, former corporate professionals, venture into entrepreneurship inspired by government policies favoring
indigenous defense manufacturing. They establish M&A Private Ltd, delving into the defense sector. The company navigat
various financial complexities, including loans to directors, acquisitions of P&T Private Ltd and SAGE Ltd, appointing alterna
directors, and modifying service contracts with NP Ltd. The CFO ensures compliance with Ind AS, while the founders focus
strategic decisions and operational growth.

Manu and Tanu, former corporate professionals, venture into entrepreneurship inspired by government policies favoring
indigenous defense manufacturing. They establish M&A Private Ltd, delving into the defense sector. The company navigat
various financial complexities, including loans to directors, acquisitions of P&T Private Ltd and SAGE Ltd, appointing alterna
directors, and modifying service contracts with NP Ltd. The CFO ensures compliance with Ind AS, while the founders focus
strategic decisions and operational growth.

Apara and Sampad, partners in both profession and life, run Aparasampad & Co., a Chartered Accountancy firm. They enga
with Greenly Ltd, a leading laundry service in Delhi, discussing laundry pricing strategies and corporate social responsibility
expenditures through an NGO. Greenly Ltd also sells land, appoints Aparasampad & Co. as subsequent auditors, and discu
personal remittances with Sampad. Additionally, CA Mani informs Apara of his auditing appointment with a listed entity.
Wanton Terun Limited (WTL), a fast-growing listed company in the textile and garments industry, seeks a new Chief Financ
Officer (CFO) after the resignation of Tiru. Candidates are interviewed based on various financial and regulatory issues, inc
foreign currency transactions, duty drawback on exports, financial assistance from subsidiaries, corporate governance
compliance, director resignations, and share-based payment schemes. WTL aims for global expansion and compliance with
regulatory requirements amidst its dynamic business operations.

BASP & Co. Chartered Accountants, led by partners Tan & Kan, engages with Jay, Director of Finance at ABC Private Ltd, on
various financial matters. Discussions include capital expenditure for a new unit, equity investments, GST implications on
supplies, disputes over service quality, corporate actions like share buybacks and bonus issues, financial performance, and
personal matters of stakeholders. Additionally, Jay seeks assistance for his friend Merun regarding financial statements rev
highlighting the interconnectedness and professional collaboration within the financial sector.