CORPORATE PROFILE · Assurance services are designed to strengthen the Company’s (or any other entity’s) ability to identify, assess and manage business risks within a challenging

CORPORATE PROFILE (BANKING)

ISO 9001:2015 CERTIFIED

NPV & ASSOCIATESChartered Accountants

Table of Contents

ABOUT NPV & ASSOCIATES 3

Strategic Highlights 3

Brief Profile 4

Firm’s Vision 5

Firm’s Values 5

Firm’s Services & Solutions 6

BANKING SERVICES & SOLUTIONS 7

Audit & Assurance Services 7

Credit Monitoring Services 7

Compliance Services 7

Due Diligence 7

Banking System Review 7

Value Added Services 7

APPROACH & METHODOLOGY 8

Approach to Audit 8

BANKING IN INDIA 9

TEAM CREDENTIALS 10

Banking Team 11

Partners’ Profile 11

Other Key Management Personnel’s Profile 11

CONTACT INFORMATION 12

NPV & ASSOCIATES – Corporate Profile (Banking)

www.npvca.in | 3

Strategic Highlights

NPV & Associates is a Chartered Accountants’ Firm and is a leading service provider to Business Enterprises in the field of Audit & Assurance Services, Taxation & Compliance Services, Corporate & Labour Law solutions, Finance, Valuation & Management solutions and Cross Border Transaction Advisory Services.

The Firm is well equipped with a dedicated Team of Professionals and High End Infrastructure Facilities which provides it with a wider perspective for service delivery and helps effectively to respond to the clients’ complex business challenges with a broad range of solutions across industry sectors.

The team of NPV & Associates consists of balanced mix of experienced and young talent. They have a rich & wide experience in the field on Auditing, Taxation, Management Consultancy, Project Finance, Company Law, Management Audit and Banking Services.

In addition to this, the Firm has a fine blend of professionals like Company Secretaries, Cost & Works Accountants, Lawyers, Bankers and Management Graduates in its team. The team is competent to carry out complex assignments related to Finance, Banking & Insurance Sector and to provide, bouquet of Financial Services, ranging from auditing to consultancy under one roof to all the clients.

ABOUT NPV & ASSOCIATES


www.npvca.in | 4

Brief Profile

Sr. No.

Particulars Details

1. Name of the Firm: NPV & Associates2. Constitution: Partnership Firm

3. Address of the Office: Mumbai - NPV House, D - Chanakya, Mahavir Nagar New Link Road, Kandivali (W), Mumbai – 400 067, India. Ph. No. 022 29678231-38109, Arista, Sindhu Bhavan Road, Pakwan Cross Road, Bodakdev, Ahmedabad - 380 059 Ph. No. 079 - 48916611Jamna Nivas, Bachhraj Plot, Amravati (M.S) 444 601 Ph. N0. 0721 2567114.

4. Landline Nos.: +91 22 29678231 – 38

E – Mail Id.: [email protected] Website: www.npvca.in

7 Date of Establishment: 10th June, 1989

8 Registration No. Of the Firm: 129408W

9 RBI Registration Number (UCN) and Category:

898669 Category I

10 Name and Mobile Number of Partner of the Firm for contact:

Milan Chitalia - +91 98201 10987 Ritesh Adatiya - +91 99798 55266

11 Peer Review of the Firm: Peer Review Certificate dated – 18th December, 2018

12 Certificate: ISO 9001 : 2015 Certificate No:- 3056 dated 5th March, 2018

13 Whether any Disciplinary Ac-tion by ICAI pending against any member of the Firm?

N.A.

14 Member In: Indo-Canadian Business Chamber Indo-Australian Chamber of Commerce

15. Team Strength: A) Qualified Professionals:

a. Partners: (9)

b. Other CA/ Professionals: (7)

B) Former Bank Officers / Executives:(3)

C) Articles: (32)

D) Other Employees: (38)


www.npvca.in | 5

Firm’s Vision

At NPV & Associates, we have a simple and yet compelling vision. We constantly endeavor to create what is a niche in our delivery systems through years of professional hands on experience coupled with the best business practices without compromising on professional standards and ethics.

Firm’s Values

At NPV and Associates, we are incredibly conscious and careful to have a value system in place for our employees and clientele alike and we go above and beyond the call of duty to ensure that we adhere to them at all times. Our responsiveness is usually unmatched. The quality of our work is of only the highest ever standards and our synergy with the Clientele is a model in itself.

Professionalism

• Maintaining integrity in relationships

• Maintaining confidentiality in work

Responsiveness

• Delivering satisfactory, prompt and efficient service to the clients

• Ensuring continuous improvement in the processes and operations

Quality

• Persistent emphasis on quality

• Ensuring compliance to the applicable legal & statutory requirements

Stakeholders

• Utmost emphasis on client’s requirements within the regulatory framework

• Providing growth oriented and progressive work culture to the employees

• Establishing and maintaining symbiotic relations with stakeholders


www.npvca.in | 6

Firm’s Services & Solutions

NPV & Associates provides a host of Services and Solutions to its clients. The Firm’s Audit and Assurance services are designed to strengthen the Company’s (or any other entity’s) ability to identify, assess and manage business risks within a challenging and ever-changing industry and regulatory environment. The services are currently divided under six major heads which are listed as below:

Services Basket

1. Audit & Assurance 2. Transaction Advisory, Valuation and Corporate Finance3. Compliance Advisory4. Cross Border Transaction Advisory5. BFSI Advisory Services6. Value Added Services


www.npvca.in | 7

BANKING SERVICES & SOLUTIONS

Audit & Assurance Services

Compliance Services

Credit Monitoring Services

Banking System Review

Compliance Services

Value Added Services

• Concurrent Audit

• Stock Audit

• Inspection Audit

• Revenue Audit

• Information Systems Audit

• Statutory Audit

• Internal Compliances w.r.t. Banks’ Policies, Procedures and Systems

• External Compliances w.r.t. RBI guidelines and circulars & Othe Regulatory Guidelines

• Credit Rating Services

• Taxes

• Scrutiny of stock statement

• Annual stock Audit / Periodical Stock Inspection

• Review of Accounting Transactions

• Reporting symptoms of incipient sickness [NPAs]

• Suggesting measures of recovery and improving asset quality

• Review of Systems, Procedures & Internal Controls

• Process Automation Advisory

• Credit Appraisal

• Internal Compliances w.r.t. Banks’ Policies, Procedures and Systems

• External Compliances w.r.t. RBI guidelines and circulars & Othe Regulatory Guidelines

• Credit Rating Services

• Taxes

• Staff Training

• Review of Process Manuals & SOP documents

• Handholding in Drafting Policies & Guidelines for Loans & Advances

NPV & Associates provides a host of Banking services and Solutions to its clients. The Firm’s Audit and Assurance services are designed to strengthen the Bank’s ability to identify assess and manage business risks within a challenging and ever-changing industry and regulatory environment. The services are currently divided under six major heads which are listed as below:


www.npvca.in | 8

APPROACH & METHODOLOGY With our experience and best practices collected from inspection and auditing services and extensive research into accounting science and industry knowledge, our team is able to deliver high quality services. Our approach is built on our several years of experience emerged from the assignments executed for our clients. The affiliation enables us to deliver world-class accounting and auditing services consistently, seamlessly, globally and in accordance with the demanding client service standards.

The Firm is committed to provide solutions for any kind of complex issues, as our important focus is getting a deep understanding of the business objective & goals of the client and the purpose of the assignment. We always believe in providing the best results to our client, with the help of our knowledge of regulatory framework and auditing practices and by virtue of the past experience of our team members of more than 3 decades.

Approach to Audit

Pictorial presentation of methodology followed is discussed here as under:

Understand the Business and Review the Systems used in the Operations

Review of Internal Control Systems / Framework

Study the Reports by other External Auditors and Professionals, Assess Risk and Develop Strategic Audit Plan (if available)

Execution and Discussion with Management

Reporting and Recommendations for Improvements if required


www.npvca.in | 9

BANKING IN INDIA:An Overview of Banking Institutions in India

Banks are one of the foremost agents of financial intermediation in an economy like India and, therefore, development of a strong and resilient banking system is of utmost importance. The impact of reforms initiated in the decade of nineties is showing up as greater efficiency, productivity and diversity in the Indian banking system. The banking institutions in the country are performing in a competitive environment and their regulatory framework is now aligned with the international best practices. Thus, financial deepening has taken place in India and continues to be in progress with a focus on orderly conditions in financial markets while sustaining the growth momentum.

The Reserve Bank of India (hereinafter referred to as RBI) acts as the monetary authority and the central bank of the country

Presently, there are following four types of banking institutions in India:

(a) Commercial banks;

(b) Regional rural banks;

(c) Co-operative banks; and

(d) Development banks (more commonly known as ‘term-lending institutions’)

There is an elaborate legal framework governing the functioning of banks in India. The principal enactments which govern the functioning of various types of banks are:

• Banking Regulation Act, 1949.

• State Bank of India Act, 1955.

• The Cooperative Societies Act, 1912

• Maharashtra Co-operative Societies Act, 1960

• Companies Act, 1956.

• Income Tax Act, 1961

• State Bank of India (Subsidiary Banks) Act, 1959.

• Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.

• Regional Rural Banks Act, 1976.

• Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980.

• Information Technology Act, 2000.


www.npvca.in | 10

• Prevention of Money Laundering Act, 2002.

• Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

• Credit Information Companies Regulation Act, 2005.

• Payment and Settlement Systems Act, 2007.

• Insolvency and Bankruptcy Code, 2016

The above Acts and Framework is the basic structure within which banks in India work. However, they are guided by the Jilani Committee Recommendations and the Ghosh Committee Recommendations.

Jilani Committee Recommendations:

Objective of Jilani Committee is to review the efficacy and adequacy of internal control, inspection and audit system in a bank with a view to strengthening the supervisory system and reliability of data

Ghosh Committee Recommendations:

Main Objectives of Ghosh Committee Recommendations are:

1. Safety of assets

2. Compliance with laid down policies and procedures

3. Accuracy and completeness of accounting and other records

4. Proper segregation of duties and responsibilities of staff

5. Timely prevention and detection of frauds and malpractices

With the focus of the Banking Sector in India shifting to growth and tapping the untapped Markets, new avenues of Financing developing with the use of Online Funding Options, it is essential that greater emphasis is laid on the Controls and Audit Functions. Hence, the need for Professionals and Bankers to work together to build a strong banking structure.


www.npvca.in | 11

TEAM CREDENTIALSBanking Team

Team Leader Prabhakar Kulkarni & Ritesh AdatiyaPartner-in-charge Manali ThakkarQualified Assistant Akshay Jain

Partners’ Profile

Partner’s Name Qualification Expertise ExperienceHarish Sheth FCA, BCom Compliance Advisory Services (Direct &

Indirect Taxes)More than 40 years

Nitin Goradia FCA, BCom, LLB Representations Services (Direct Taxes) More than 30 years

Milan Chitalia FCA, BCom Corporate Finance and Business Restructuring

More than 16 years

Poorvi Chitalia FCA, BCom Individual Taxation (Direct Taxes) More than 14 years

Kruti Shah ACA, MCom, MBF (ICAI), CPA- Australia

Cross Border Transactions Advisory, Audit & Assurance Services

More than 8 years

Rakesh Waghela ACA, DISA, CWA, BCom

Cross Border Transactions Advisory, Compliance Advisory Services

More than 7 years

Suchita Shah FCA, CS, Mcom, Dip IFRS

Audit & Assurance Services More than 7 years

Manali Thakkar ACA, BCom BFSI Advisory Services, Valuation Services

More than 5 years

Priyal Shah ACA, BCom Advisory on Systems Improvements, Audit & Assurances Sevices

More than 5 years

Other Key Management Personnel’s Profile

Name Qualification Expertise ExperienceRitesh Adatiya BCom, Bachelor of Law and Legislation,

Chartered Accountant – ICAI, DISA – ICAI, Certified Valuer – ICAI

Structuring under IBC, Corporate Finance and Transaction Advisory Services

More than 20 years

Pankaj Savla BCom, Diploma in Labour Laws Compliance Advisory Services (Labour Law)

More than 25 years

Prabhakar Kulkarni BSc, LL.B, C.A.I.I.B, Dip. in I.R. & P.M. BFSI Advisory Services More than 35 years


www.npvca.in | 12

CONTACT INFORMATIONTo get in touch with us, kindly use the following contact information:

Milan Chitalia Managing Partner

Manali Thakkar Partner

Prabhakar Kulkarni Key Management Personnel

Ritesh Adatiya Key Management Personnel

Tel +91 9820110987 [email protected]




www.npvca.in

Mumbai H.O. :NPV House, D-Chanakya, Mahavir Nagar, New Link Road, Kandivali (W), Mumbai - 400 067, India.Tel. : +91 22 2967 8231 - 38

Ahmedabad :109, Arista, Sindhu Bhavan Road, Pakwan Cross Road, Bodakdev, Ahmedabad - 380 059.Tel. : +079 - 4891 6611

Amravati :Jamna Nivas, Bachhraj Plot, Amravati (M.S.) - 444 601.Tel. : +0721 - 2567 114

NPV & ASSOCIATESChartered Accountants

Documents

CORPORATE PROFILE · Assurance services are designed to strengthen the Company’s (or any other entity’s) ability to identify, assess and manage business risks within a challenging