R&A Associates has been providing Corporate Secretarial services on retainership basis for the Indian subsidiary of a Norwegian company (“Client”).
About the Client - The Client provides full outsourcing of business functions for all payroll and personnel services to enterprises. Apart from delivering payroll and HR processes with one common IT solution across geographies, the client also provides analytics and reporting solution. The Consulting division covers business transformation services to help companies sail through change management with cost-effective, high-quality and consistent solutions customized explicitly for their business and Professional Training division offers complete SAP training program as well as special courses.
Our Association and work- We acquired the client in the year 2015 when it was yet to start it business operations and was inactive from compliance perspective for over four years since its incorporation in 2011. The Client had big plans with regard to its India centre and intended to make it as its prime outsourcing destination. In this context, we undertook the following:
- Complete analysis of the Corporate Secretarial compliance status of the Indian entity since Incorporation, identified the gaps and thereafter came back with an action plan to revive back the Indian entity.
- regularized all its compliance's and advised them on the structure in order to make the Indian entity a Wholly Owned Subsidiary of its overseas parent entity
- Compliance and reporting under Foreign Exchange Compliances.
We continue to be associated with the client and provide ongoing compliance support under Companies Act & FEMA. Our Senior team directly deals with the Foreign directors educating them on the Indian regulatory requirements and hand hold them at each step. We also extend all our support and cooperation to their accounting and audit team by ensuring that the compliances are up to date and there are no qualifications/remarks from their auditors who are among the Big4.
While the Client has grown immensely in size and complexity so has our relationship with our client which is valuable and rewarding.
Do write to us in case you want to know more at [email protected]