One of the leading Italian manufacturer of air-conditioning and heating systems sought to streamline its India operations

Case Study

About the Client

One of leading Italian manufacturers of systems for air-conditioning, heating and air-purification for residential, commercial and industrial applications.

Client Need

The client’s 100% owned subsidiary in India had several issues such as delay or non-compliance towards reporting of capital infusion from its parent company to RBI, issues with several tax authorities, inefficient cash flow management and lack of regular financial reporting to head office in Italy.

Our Approach

Assisted the client in appointing company secretary for handling compounding case with RBI for delay or lack of reporting of capital infusion from its parent company.
Assisted the client throughout the process including preparing application in specific format for each remittance, liaising with its banker and RBI officials.
Assisted the Indian subsidiary in appointing relevant tax consultants and handheld throughout the process of sorting issues and streamlining the process of tax related payments and compliances.
Provided directorship services including financial supervision which involved monitoring financial transactions, authorising bank payments and so on. We also setup process for cash flow management and reporting to parent company.