We provide seamless services to our clients which are tailor-made to suit their unique requirements. Our focus is always on client-centric solutions and in the process, we often go that extra mile to ensure that our clients do not have to worry about their compliances. Pro active management of our clients’ issues is our motto and we strive to live by it.

The services we undertake include the following

Assurance & Risk Advisory Services
  • Statutory audits
We strive to provide good quality audit services to our clients. We have rich experience in conducting statutory audits of listed companies, private companies, public sector undertakings, banks, insurance companies and trusts. The extensive and intensive nature of our audit processes ensures that we cover all aspects of the books of accounts before providing an audit opinion. Apart from the accuracy of the books of accounts, we also focus on the understanding of the overall business of the client so that we can provide constructive guidance and support to the client.
  • Management & internal audits
Internal audit is an independent management function which involves a continuous and critical appraisal of the entity with a view to suggest improvements thereto and to strengthen the corporate governance process.  Internal audit is compulsory for every listed company and all other unlisted public companies crossing prescribed revenue/share capital thresh-holds. We have rich experience in conducting internal audits for a variety of companies including public sector undertakings, Power companies, infrastructure companies, insurance companies and other private entities.  We provide services in respect of risk based internal audit for various organisations.
  • Review and testing of internal financial controls
In any company the directors assume the primary responsibility to ensure the truth and fairness as well as the accuracy and appropriateness of the financial statements.  As companies grow in size, the only way for the directors to reasonably ensure that the financial statements are free from material errors and misstatements is by establishing processes and controls that counter the risks effectively and to employ/appoint adequately competent people to discharge the responsibility on behalf of the Board. We have been instrumental in helping our clients set up internal financial controls to comply with the requirements of Companies Act as also to set up a framework for effective risk management.
  • Implementation of IndAS / IFRS
IndAS conversion is a strategic issue. Each company needs to develop its own roadmap by considering various factors right from the information technology setup to their risk management objective. We have successfully helped our clients migrate to the IndAS framework ensuring a seamless transition. We have rich in-house expertise in the subject providing us with the capability to help our clients.
  • Pre-listing advisory for companies
An IPO is a turning point in the life of any company and is a defined milestone in a complex transformation from a private company to a public company. It is a transformational process and not only a financial event. The most important phase in an IPO is preparing for the IPO. Lack of adequate preparation and wrong timing can jeopardize an IPO.  Our team is well versed with the pre-listing compliances and have successfully helped our clients to breeze through this critical process and successfully list on the stock exchanges.
  • Risk assurance
Risk is a fact of life and cannot be done away with. Businesses operate in environments which spell risk at every stage. While it is impossible to not expect risk, it can surely be mitigated and managed.  This is where our experience comes into play. We look at the client organisation with a fresh perspective. We analyse the processes, policies, systems and controls and advise the client about the possible lapses and solutions to heal the cracks, thereby mitigating the risks. While doing this we focus on the client’s applicable regulatory framework, the internal control mechanisms, IT infrastructure, and the third parties on whom our clients rely. This helps our clients in delivering high quality results while meeting their strategic objectives.
  • Forensic Audit
Forensic audit is a specialised branch of audit which covers a wide range of investigative activities and is generally conducted at the behest of investigative agencies/regulators. The Forensic Audit Report is generally used as an evidence in the trial proceedings against the accused who has apparently committed the fraud/embezzlement.   Generally, the crimes unearthed involve money laundering, embezzlement, bribery, conflict of interest and misappropriation of assets. A lot of substantive and analytical procedures are performed to reach at the conclusions. We are empanelled on the forensic audit panels of the national and state investigative agencies and banks and have successfully completed a number of forensic audits.
Tax Advisory Services
  • Preparation and filing of income tax returns
Over the last more than 40 years we have helped hundreds of clients; individuals, firms and companies alike, in their tax filing exercise. With numerous changes in the tax environment in the country, it becomes difficult to keep abreast with all changes, be it in the provisions or in the interface or in other compliances. We provide detailed updates to our clients and also keep them informed about the changes in provisions of the law so as to proactively plan the tax needs of the clients.
  • Tax Audits
Tax Audit is an integral part of the tax advisory of the firm. We undertake audits of our clients under the provisions of the Income Tax Act, 1961 and help them in their compliances. We have also been instrumental in conducting a number of special audits for the Income Tax Department over the course of so many years of our existence.
  • Representation before tax authorities
We have considerable experience in handling income tax scrutinies and assessments on behalf of our clients.
  • Tax consultation for clients
Tax efficient decision making is very important for personal as well as business life. We encourage our clients to design a comprehensive plan to meet their financial goals. We analyse the current level of the client’s investments, insurance, retirement planning and advise on the optimum mix. We assist clients in tax efficient transactions as well as retirement and succession planning in an efficient way.
  • Taxation of non-residents
We help our NRI clients in their tax planning, repatriation of funds, facilitating investments in India by developing an entry strategy and financial models, facilitating clearances under FEMA from RBI and also other services linked to Double Taxation Avoidance Agreements.
  • Transfer Pricing Studies
Indian tax laws require an annual assessment of whether companies with overseas group entities meet the “arm’s length” requirement in their transactions (sales, purchases, services being provided, loans, management fee, royalty payments). Regulations require both a detailed (TP) study by the company and a TP audit report by an external auditor. We assist our clients in benchmarking studies to help them estimate margins and mark-ups in their industry. We conduct annual transfer pricing studies as also liaise with the tax authorities regarding assessments, scrutiny or dispute.
  • GST Advisory
The indirect tax regime of India underwent a sea change with the introduction of GST in July 2017. As the whole system of filing of returns was moved to online portal and with 2 returns to be filed a month, it was very burdensome for the clients. We assist our clients in seamless migration to GST and also help them with all monthly compliances with the services being pro-active from our end, right from reminding the clients of the need to file a return to getting the payment made and uploading the return. Thus, our clients do not need to worry
Business Advisory Services
  • Financial & tax due diligence
When any business wants to invest money in another to buy a stake or to buy the business entirely, the investors obviously want to be sure of the soundness of the financials of the investee company. Before committing to the transaction, the buyer will want to ensure that they know what they are buying and what obligations they are assuming, the nature and extent of the target company’s contingent liabilities, problematic contracts, litigation risks and intellectual property issues.  This is where we assist the investor in conducting a buy-side due diligence to present a holistic summary of the business’s financial health and flagging off the potential deal-breakers. We also conduct vendor due diligence wherein a prospective vendor tries to obtain a pro-active financial assessment from a third-party consultant in the process of getting ready for a stake sale. Our due diligence process is seamless, and we not only comment upon the financial health and viability but also report on industry trends, reporting requirements and compliances.
  • India entry strategy for foreign enterprises/ Incorporating companies in India
India is being marketed as an investment hub globally and a lot of global enterprises are showing keen interest in investing money in India. But the regulatory frameworks of different countries are different and any enterprise which wants to set up shop in any new country will need to acquaint itself with the compliances in that country. This may turn out to be too overwhelming and might consume disproportionate energy and resources. We, at MMC, assist such prospective investors by helping them adhere to all the applicable laws and comply with the provisions of the various Acts like the Foreign Exchange Management Act, 1999; the Companies Act, 2013; the Income Tax Act, 1961 and the Securities Contracts (Regulations) Act, 1956
  • Financial valuation
The biggest pre-requisite in intelligent decision making when it comes to investing in an asset or taking over a business or financing and dividend choices is what the asset or the enterprise is worth and what determines this value. Valuation, hence, assumes utmost importance in sound investing. A postulate of sound investing is that an investor does not pay more for an asset than it is worth. But how does one determine this “worth”? The process of valuation is a detailed one and considers various optional methodologies to arrive at the correct value. We assist our clients in arriving at this “value” so that they are able to take smarter and more informed decisions.
  • Business planning strategies
A business plan is nothing but a formal statement of the business goals which also considers the relevant resources and constraints and the time frame to achieve these goals. A business plan may be prepared before a business is set up or at the time of expansion or diversification, or while seeking financing or investment. A well-defined business plan lays out a vision of growth and the steps required to reach there. We carefully understand the scenario facing our client and prepare a tailor-made business plan to suit the specific requirements.
  • Foreign exchange management consulting
We have senior professionals with experience in FEMA and we provide advisory services to individuals and corporates regarding repatriations, investment entry strategies, FIPB permissions , business valuation certifications and the like.
  • Corporate governance advisory
The variety of corporate scandals which the business world has seen in the recent past has shaken the public confidence in corporate management. The need for corporate governance is then, imperative for reviving investors’ confidence in corporate management. While regulators are strengthening the regulatory framework, companies have now started focussing more on governance structures, risk management policies and disclosure practices. Our team is equipped to advise clients on governance structures, internal controls and risk management across various sizes of businesses and across multiple industries. We also help our clients put up governance structures in place to ensure a meaningful corporate governance exercise.
  • Corporate Training
We have specialised team to provide trainings to banks, commercial organisations and government organisations on various topics like accounting, auditing, corporate governance and banking. Our team has the experience of providing trainings at various levels of management including the top management like the Board of Directors of various companies.