F&A Function And Pre-winding Up Support

The client has an establishment in the US and took over its competitor's operations in the US and India. They incorporated a new company in India and shut down the acquired company's Indian function through voluntary winding-up

The client approached Nexdigm to take over the acquired company's finance functions and support the pre-winding up activities.

Challenge

Although, they overtook the operations from the earlier management, it lacked a Finance team to look after the daily F&A and compliance functions.

The company had several non-compliances under the Companies Act and other taxation laws and needed assistance in understating the repercussions of noncompliances.

They also had to close the operations and surrender all the registrations that were obtained by them under various laws before the voluntary winding up.