G. Jaishankar

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G Jaishankar

Associate

FCA, DISA(ICAI), IP(IBBI), FAFD(ICAI) B.Com.(Hons)

  • End Use audit cum Investigation of the Effectiveness of the Program “ FOOD FOR WORK “ run by Catholic Relief Services (CRS), a US based NGO operating in India as a Society. The Audit involved visiting various beneficiaries in remote villages, who were said to have participated in the program as per records of the Agent of this program, to ascertain if they really participated & if they received the “ FOOD” for the work done as per norms laid down by the organization. It was a Team Leaders position here; the team comprised of 6 persons of varied experience, 2 from the firm & 4 from the organization, CRS.
  • Special Investigative audit where the major purpose was to establish fraud perpetration. Conducted for corporates on behalf of various banks. Major large corporates handled were for banks such as Bank of India, State bank of Mysore, Canara bank and the accounts handled were Pertech Computers Ltd, Altos India Ltd, Comet Glasses Ltd.
  • Efficiency & Effectiveness Survey of the lending made by various banks in the country to the Small scale segment. The lending to these banks were under a scheme of re-financing through Small Industrial Development of India ( SIDBI) who ultimately had their funding from OECF, Japan. This was a mandate from OECF to understand the effectiveness. This was an All India Survey lead with nearly 60 person/s working in various locations & reporting. This involved visiting every such person who had taken a loan, take basic details, analysis his operations, take his view of the effectiveness of the finance done, whether the loan taken has fuelled his growth, his payment habits to the bank of the instalments against the loan he has taken.
  • Statutory Audits of various Government Companies viz., National Insurance Company Ltd, TIFAC ( Department of Science & Technology), Hindustan Aeronautics Limited.
  • Regular Internal Audit of Videsh Sanchar Nigam Limited ( A Government of India Enterprise) for 5 years before it was sold off to the Tata’s; Internal Audit of Religare Enterprises Limited ( formerly Fortis Securities Ltd) for nearly 5 years before it went into the hands of Grant & Thornton.
  • Audit of various brokers on behalf of National Stock Exchange of India and the Securities & Exchange Board of India.
  • Project Progress & End Use Monitoring of a 1500 MW Hydel Power Project in Himachal Pradesh; This was a quarterly monitoring done for a continuous period of 3 years. The Power Project is owned by Nathpa-Jakhri Power Corporation Limited ( a JV between Government of India & the government of Himachal Pradesh ); the monitoring was done at the project stage of one of the major contractor ( tunneling) which was a SPV viz., Impregilo-HCC combine. This was a WORLD BANK aided project and we had received a mandate to do this progress & end use monitoring from Hongkong & Shanghai Banking Corporation Ltd.
  • Project Progress & End use monitoring of Highway Construction ( Road) by Sunway Construction SDN BHD ( An SPV of the Malaysian Company Sunway Holdings ); the monitoring was of a National Highway allocated to them in the state of Rajasthan by National Highway Authority of India ( A government of India enterprise)
  • Project Progress & End use monitoring of Highway Construction ( road) by IJM Infrastructure ( a subsidiary of IJM of Malaysia); this was for a highway construction in the state of Andhra Pradesh allocated by NHAI.
  • Project progress & end use monitoring of 2 thermal Power Projects in the State of Karnataka in the private sector funded by Power Finance Corporation Ltd ( A Government of India Enterprise); Currently handling a large Singapore based conglomerate which is into wind based & solar energy as a Lenders Financial Advisor.
  • Due Diligence of 2 major corporates viz., Nuchem Ltd & Shamken Multifab Ltd against a large External Commercial Borrowing arrangement coming in from Mauritius.
  • Loan Serviceability assessment of small borrowers. This is a pre-loan sanction due diligence and income assessment process to determine whether the prospect would be in a position to service the loan he is seeking. More than 200 cases have been done under this scheme for the NBFC, Fullerton India Credit Corporation Limited which is a part of the Temasek group of Singapore.
  • Compliance audit & certification relating to the Central Bank of the country ( RBI); Audit of Micro Finance Institutions (MFI) done to report compliance of RBI parameters particularly to see if the loan portfolio would fall under the requirement of being classified as a Priority Sector Lending. MFI’s covered under this scheme are Janalaxmi Financial Services Ltd, Ujjivan Financial Services Ltd in Bangalore, Bandhan financial Services Ltd in Calcutta, Shriram Transport Finance Co Ltd in Mumbai, Shriram City Union Finance Ltd in Chennai.
  • Stock Audits of various constituents of the banking sector. Banks for which such work is done are Hongkong Bank, Development Bank of Singapore, Standard Chartered Bank, Indusind Bank, ICICI Bank Ltd, Canara Bank, Bank of India.
  • Syndication of loans & equity from banks, institutions, private equity. Would have done debt syndications totaling in excess of Rs 150 crores and in terms of number of clients it would be more than 10. These syndications have all been done through the Indian Nationalised banks viz., Oriental Bank of Commerce, Bank of India, Corporation Bank, Punjab National Bank.
  • Entire process of Merger of 2 entities, merger of partnership into a private limited company handled. This related to 2 medium sized business houses here in the north of India.
  • Handled business valuations of various entities. Latest large valuation handled was of BILT graphic paper products Ltd ( Avantha Group); Other large valuations handled were of Lakshmi Precision group, Lakhani Group.
  • Senior Member of a large team taking up “GST Ready Initiative ‘, giving GST overview, organizing workshops on GST, client presentations on GST ready initiatives, Initiating & structuring Impact study of GST on business.
  • As a part of the IBC process had headed a forensic audit assignment in Mumbai; the firm was appointed to do this audit by the Insolvency professional of this entity in NCLT, Mumbai.
  • Was a part of the team of IP’s handling CIRP process under IBC as an IRP. This is for a Corporate Debtor whose total exposure is around Rs 4500 lacs. The IRP appointment was through NCLT; Major Financial creditors here are HDFC Bank, Bank of Maharashtra, Kotak Bank, ICICI, Yes, Tata Capital, NSIC.