Firm Profile

O P BAGLA & CO LLP

CHARTERED ACCOUNTANTS
Assurance . Tax . Consultancy
 O P BAGLA & CO was established in 1967 and converted LLP in
2018. New partners were inducted in a phased manner,
Our Vision according to growth of business.
“To help our clients
meet their goals
The firm has a large and diverse client base spread all over the
through our people, country and overseas engaged in various business activities i.e.
services and solutions” from retail business house to large industrial undertakings
which are well known in the country.
Our Mission The firm has vast experience of more than 50 years in Statutory
“O P BAGLA & CO LLP is Audits, Internal Audits, System Audits, Management Audits,
dedicated to providing Due Diligence, Concurrent Audit, Financial Reporting, Financial
the people, services and Accounting, Direct taxation, International taxation, Transfer
solutions our clients
need to meet their pricing and Corporate law.
business challenges and
goal.”

About the firm

 B. Direct Taxes - Domestic
“O P BAGLA & CO LLP has been placed i. Representations & Litigation Support
at 27th rank in the list of top chartered including assessments & appeals.
accountancy firms in practice in India.” ii. Direct Tax Planning & Advisory.
iii. Tax Due Diligence.
⁻ 6th edition of Prime academy iv. Transaction Structuring.
research report 2016 v. Domestic Transfer Pricing.
vi. Statutory Compliances including under
Income Tax and Wealth Tax.
Details of professional assignments being performed by the firm:-

A. Assurance & Attestation: Assurance and

Attestation
i. Statutory Audit under Companies Act, 2013 ix. Limited Review
ii. Internal Audit x. Concurrent Audit
iii. Systems Audit xi. Special Audit M&A,
iv. Management Audit xii. Stock Audit GAAP
Direct
i. Risk Management Audit xiii. Tax Audit conversion
& Other Taxation
vi. Central Statutory Audit & Branch Audit of
xiv. Forensic Investigation's services
Banks
xv. Transactional Audit under IBC
vii. Certification under various Governing Statutes Act, 2016
xvi. Data Analytics Corporate Law and
viii. Audit of Large Sized Public Sector Undertakings including Insurance Companies allied services

Our Services
C. Direct Taxes - International E. Other professional assignments
i) Representations & Litigation Support i) GST impact analysis and implementation services.
ii) International Tax Planning & Advisory ii) Due Diligence.
iii)DTAA advise on cross-border investment and transaction iii) Consultancy for M&A and Corporate Restructuring.
structuring iv) IFRS / US GAAP conversions.
iv) International Transfer Pricing v) Business Valuations.
v) Expatriate Tax Advisory & Compliance services vi) Designing of Accounting Systems.
vi) Statutory Compliances vii) Accounting outsourcing.
viii) Acting as Financial Consultants and Advisors.
ix) Process & MIS review.
D. Corporate Law & Allied Services x) ERP Implementation.
i) Company incorporation. xi) Preparation and Appraisal of Project Reports.
ii) Representation before Company Law Board. xii) Debt syndication.
iii) Corporate governance review. xiii) Placement services.
iv) Corporate Law advisory. xii) Development of internal financial control framework.
v) Regulatory support under FEMA & RBI guidelines. xiii) Advise on MOU / Shareholder agreements.
xiv) Preparation of fixed assets register.
xv) Business process reengineering.

Our Services
 As one of our core competencies, we carry out external statutory
audits for organizations of all types and sizes. We adopt a risk-based
approach to our audits to achieve efficient and effective audits, as Statutory Audit Team
well as adopt strong quality control measures. With us, you can have • No. of Partners: 5
a peace of mind that our audits offer reliable assurance and timely • No. of Qualified Staff: 11
compliance with statutory regulations. • No. of Audit staff: 22
How can we help you:
Is your auditor’s approach tailored to your needs? We are specialists
in audit of large organizations with vast geographical spread and
diversified operations varying in manufacturing, power generation,
transmission and distribution, hospitality and health services, NBFCs,
Insurance, Oil and Gas etc.
“We see the annual audit as more
What we do: than a statutory requirement and
- Audits of year-end financial statements work to ensure that our audits
- Quarterly limited review for listed entities have added value benefits beyond
- Special purpose audits as per client’s requirement a simple audit opinion.”
- Tax Audits as per Income Tax Act, 1961 - O.P. Bagla
- Certifications

Major Service Offerings

 Internal Audit’s Mandate:
Internal Audit provides independent, objective assurance and Internal Audit Team
consulting services designed to add value and improve the
• No. of Partners: 3
organization’s operations and effectiveness of governance, risk
• No. of Qualified Staff: 7
management and control processes.
• No. of Audit staff: 20
How can we help you:
Using a risk-based approach and proven methodology, we focus
on evaluating the effectiveness of your internal controls against System

key risks, business strategy and commercial needs. When you Follow up Risks
work with us, you will have the confidence that our services will
Testing Communic
meet your compliance and business needs. ation

What we do: Measurem

Objectives
ents Internal
- Governance, Risk, and Compliance Audit
- Operational
Reengineer Documents
- Financial ing
- IT Systems Interviews
Flow
Charts
Scope

Major Service Offerings

Procedures
 Forensic Audit’s Mandate:
Fraud & Misconduct remains constant threat to a large number of organizations Forensic Audit Team
today. Fraud & White Collar Crime have increased over the recent years & the
trend is likely to continue. However, the business risk & fraud can be effectively • No. of Partner: 1
controlled through appropriate Risk Management Strategy. • No. of Qualified Staff: 2
How can we help you: • No. of Audit staff: 7
Forensic team can helps clients protect their business from Fraud, Misconduct and
non-compliance that helps the organization reduce the reputation risk &
commercial loss. We do this by providing objective, proactive responsive services
through our investigative, accounting & technology skills.

What we do:
- Reactive Services
Identify
❖ Forensic Accounting & Investigations Analytical Understand
Possible
Prescribed Possible
❖ Transactional Audit under IBC Act, 2016 Steps Business Fraud Symptoms
Frauds
❖ Supply Chain & Procurement Fraud Investigations
❖ Bank Loan Fraud Investigations Use of Technology to Automate
Technology Analyse
Collect Data about Detection
❖ Corporate Investigations Steps Symptoms
Results
Procedures
❖ Financial Reporting Dispute
- Digital Forensics & Cyber Intelligence Investigative Investigate
Follow Ups
- Data Analytics Steps Symptoms
- Proactive Services

Major Service Offerings

 Overview:
As per Companies Act 2013, the term Internal Financial Control (IFC) has
been defined as per policy & procedures adopted by the companies to IFC Team
ensure orderly & efficient conduct of its business, including adherence • No. of Partners: 1
to companies policies, safeguarding of its assets, prevention & • No. of Qualified Staff: 2
detection of fraud and error, accuracy and completeness of accounting
• No. of Audit staff: 5
records, and the timely preparation of reliable financial information.
How can we help you:
• Establish and review internal controls framework covering both
Entity Level Controls and Process Controls (covering finance and
accounts, business processes, compliance and IT) in line with leading
• Ethics & Value strategy Entity
industry/controls practices
• Culture Controls
• Benchmark controls against global best practices; IT controls, • Communication
prevent v. detect, manual v. automated • Policies and Procedures Control
What we do: • Organizational Structures governance &
• Communication standards
- IFC / ICFR Framework Implementation • Roles and responsibilities
- Enterprise Risk Management • Risk identification Control Design
- Compliance Management • Capacity to deliver objectives
- Business Performance Management • Control systems
Control Operation
- Controls Transformation • Continuous Improvement

Major Service Offerings • Compliance monitoring

• Control monitoring
Control Compliance Monitoring
 Firm has been appointed as statutory audit under various Spl Audit Team
regulations/statutes. Recently firm has undertaken special audit for • No. of Partners: 3
following areas:
• No. of Qualified Staff: 5
1. Audit of AGR of Telecom Service Providers as assigned by
• No. of Audit staff: 7
Department of Telecom.
2. Audit under provisions of Section 142 of Income Tax Act for a
company of a large business conglomerate.
3. Audit of expenses incurred by large corporates under CSR by visiting
to the office of agency implementing the CSR.
COMPLIANCES
4. Due diligence of agencies to whom the corporates are planning to
assign CSR project.

Firm has been assigned repeated appointment of special audit under

Experience SUCCESS
Income Tax Act for a large company on the basis of finding of addition and IN TARGET
under one assessment year. Also the finding under special audit of Expertise OF AUDIT
other categories also have been as desired by the auditee of the special
audit.
HELPFUL IN TAKING
REMEDIAL MEASURES
Major Service Offerings
 Ensuring tax compliance has become increasingly complex in today’s
dynamic environment, with ever changing regulatory and tax
requirements. At OPB, our compliance and representation services aim Tax Team
to instill confidence that your tax matters are being dealt cost • No. of Partners: 4
effectively and in a timely manner.
• No. of Qualified Staff: 8
How can we help you: • No. of Audit staff: 8
We advise and assist in tax compliance for individual, partnership and
corporate tax to help you avoid unnecessary litigation from the income
tax department. Our range of Income Tax services cover all aspects of
Indian Income Tax Laws. Our services help our clients to operate
efficiently and optimize their tax liability. Transparency
What we do:
- Tax consultancy on all domestic and international income tax
matters
- Representation before tax officers and appellate authorities Experience Crystal
and clear
- Preparation of transfer pricing studies and representation before Expertise advisory
transfer pricing officers
- Consulting on cross border investments and international joint
ventures
Eliminating
unwarranted litigation
Major Service Offerings
 Acquiring and retaining relevant resources has become increasingly
complex in today’s dynamic environment, with ever changing technical
skill set requirements. At OPB, our staff outsourcing / co working Co-work Team
services aim to provide relevant resources with adequate training and
skill set to cater the customized need of our clients. • No. of Partners: 2
• No. of Qualified Staff: 8
• No. of other staff: 25
How can we help you:
We understand specific requirements of our client and provide relevant
resources based on our understanding of job to be performed so that
deliverables of various projects can be delivered on timely basis with
Availability of relevant
quality exceeding expectations. Our services help our clients to operate resource pool
efficiently and optimize their resource pool.

What we do: Excellent

Benefit
- Providing on site staff with relevant skill sets. from Rich
Support
Experience
- Providing regular trainings to staff for acceleration in various tools
which can eventually help our client for better quality outcome.
- Ensuring continuity of relevant resources for a long term period
Cost Saving &
through knowledge transfer and regular monitoring and support.
Focus on core

Major Service Offerings processes

 Business valuation is critical for transactions including fund raising, mergers & acquisitions
(M&A), sale of businesses, strategic business decisions like family or shareholders disputes,
voluntary value assessment and for regulatory compliance, tax and financial reporting
purposes in India under RBI, Income Tax, Companies Act, SEBI Laws etc. Better Corporate Valuation Team
Governance is also leading to requirement of independent Business Valuations.
• No. of Partners: 1
How can we help you: • No. of Qualified Staff: 2
The Firm offers Valuation services in: • No. of other staff: 4
1. Transactions, such as investments, divestments, mergers, demergers, JVs, equity-swaps,
purchase or sale of assets including intangible assets etc.
2. Compliance and Disclosure, including fair-value statements and restatements under
Indian GAAP (including the new INDAS), IFRS & US GAAP, for matters such as Impairment
Testing for the purpose of Ind AS 36 and AS 28, Purchase Price Allocation, valuation of
Financial Instruments, ESOPs etc.
3. Transparency and Stakeholder Communication practices adopted by progressive and Compliance and
admired managements, including voluntary/ suo moto valuations of intangible assets. Disclosure

What we do:
OPBCO has added Valuation to its gamut of services. Our team has a wealth of experience in
all facets of valuation of financial securities and intangibles. Our team has an intimate
understanding of the needs of industry-specific entrepreneurs from small business owners
to aggressive venture capitalists. Embracing the latest methodology, our team is fiercely Transparency
Transactions
dedicated to providing fair and attentive client service. and Stakeholder
support
Communication

Major Service Offerings

Service provided:
❑ Consent letter
❑ Comfort Letter
Availability of relevant
❑ Certificates resource pool
❑ Circle up of Data
❑ Certificate on Material Developments
❑ Certificate on Material Frauds
Benefit
Excellent
from Rich
Past IPOs / QIP Support
Experience

➢ NTPC - comfort letter for MTN programme

➢ NTPC - certification for issue of tax free bonds
Adherence
➢ Lemon Tree Hotels Ltd - IPO certification services DRHP and RHP
To
➢ REC Ltd - comfort letter, circle up for GMTN $7 Billion
Timelines
➢ REC Ltd - comfort letter, circle up for bond issue $500 Million
➢ Varun Beverages Ltd - IPO certification services DRHP and RHP
➢ Varun Beverages Ltd - comfort letter and certification for QIP
➢ Monnet Ispat Ltd - certification, circle up for FCCB issue
Major Service Offerings
 OP Bagla & CO. LLP, A team who…
Are passionate about working with
you to develop an effective Risk
Management framework and a
robust Internal Audit function

Will offer objective advice and

fresh insights through the use of
deep subject matter and industry
experts

Will be agile in our approach to

respond to your changing
environment and ambitions

Are ready to engage, and looking

forward to working in partnership with
you

Earnesto Consultancy
Built on Ambition – Delivering on Belief
 We can deliver better than others…
We Understand We understand your business model, your markets & your requirements. We know the challenges
You in effective audit of functions & Units and will address them.

Strong Sector & Our Engagement Management team will bring you their industry expertise and their right project
Functional management experience. We understand the sector, how it operates, how they are organized and
Experience the risks associated specifically with sector.

Senior We will communicate with your Senior Management level regularly to address your changing
Management expectations.
Interactions

Right team Our teams bring you the right mix of energy and experience. Our special training module will
composition ensure that your project does not get affected by any changes in our staff.

Large Project We understand nuances of project managing large size engagements to ensure effective delivery.
Delivery Our team has vast experience of delivering large size projects.

Earnesto Consultancy
Built on Ambition – Delivering on Belief 4
 ✓OPBCO is a team of experienced and sincere professional in the field of NGO Sector, Process Review, Auditing and Assurance Services,
Accounting, Management and other areas to serve you finest.

✓OPBCO organizes continuous Training Program, fortnightly for its Executives at its own Facility.

✓OPBCO has a separate Research & Development division to improve the quality of services promised to you.

✓OPBCO strictly adhere to Professional Ethics and Secrecy of client Information.

✓OPBCO arrange to make timely and correct communication.

✓Streamlined Processes – Identify opportunities to streamline transaction processing by reducing cycle times and eliminating
rework.

✓Technology – Identify opportunities to leverage technology solutions to enhance processes and controls. Some examples
include identifying opportunities for paperless processing or integrating various processing systems.

✓Best Practices & Benchmarking – Identify opportunities to implement best practice solutions or provide benchmarks of
current processes against industry norms.

✓Partnering – Identify opportunities to better integrate processes with business partners and enhance external and/or internal
cooperation.

✓Measurement Systems – Identify opportunities to implement or improve management measurement and monitoring tools,
including defining key performance indicators and executive dashboard.

Earnesto Consultancy
Built on Ambition – Delivering on Belief
The Founder Partner: Mr. O.P. BAGLA
FCA, B.Com, Member (IIA USA) [email protected]
Mr. O.P. Bagla is a member of Institute of Internal Auditors (Delhi Chapter) since 1974 (International Head Quarters at Florida, USA). Mr. O.P.
Bagla was also in taxation and company law committee of PHD chamber of commerce.
Mr. O.P. Bagla has a vast experience and his area of expertise is audit, internal audit, financial consultancy and planning. He is actively involved
in strategic planning and is advisor to large industrial houses.

Other Partners
V.K. Jain – FCA, B.Sc. [email protected] Rakesh Kumar – FCA, B.Com [email protected]
Mr. V.K. Jain is vested with experience of over 40 years and he has expertise Mr. Rakesh Kumar with an experience of over 30 years is actively involved in
in Direct Taxation work. He represents all major client before tax authorities. audit (Statutory and Internal) of big business houses, PSUs and banks.
He is actively involved in representing the client before CIT (Appeals) and Besides audit he has good experience in project consultancy, company law
Hon'ble ITAT and he has been instrumental in passing of various landmark matters and management consultancy. His area of specialization is
judgment of the appellate authorities. assurance and company law. He also has vast experience of compliance of
regulations of RBI related to NBFCs of the clients including core investment
Atul Bagla – FCA , B.Com(H), DISA, CPA, CIA (IIA USA), CFE, Regd Valuer companies. He is heading Special Audit of the firm under various statutes.
[email protected] He has handled imprementation of SOPs in Real Estate Deveopers.
Mr. Atul Bagla has post qualification experience of more than 25 years. He is
looking after statutory audit, internal audit, management consultancy and Atul Aggarwal – FCA, B.Com(H), DISA [email protected]
consultancy for large business houses. His other area of specialization is ERP Mr.
. Atul Aggarwal is a fellow member of the Institute having experience of
implementation and designing of accounting and MIS systems and Ind AS more than 25 years post qualification. His area of specialization is Statutory
implementation. He regularly interacts with the business owners and audit Audit, Internal Audit and MIS Reports which include preparation of monthly
committees of large corporations and provides thought leadership in the financial statements, inventory accounting and other planning for the
areas of assurance and risk management. clients. Mr. Atul Aggarwal is also holding DISA qualification of ICAI.

Our Team
Mukul Bagla – FCA, B.Com [email protected] Neeraj Agarwal – FCA, B.Com, DISA, Cert. FAFD (ICAI)
Mukul Bagla is vested with experience of 21 years and he has expertise [email protected]
in Direct Taxation work in respect of issues related to Domestic Taxation Mr. Neeraj Agarwal has rich experience in the fields of assurance,
and International Taxation. He represents all major client before tax regulatory and financial consulting. He has over 21 years of experience
authorities. He is actively involved with PHD Chamber of Commerce & in his areas of practice and is actively involved in strategic planning and
Industry and is the Co-Chairman of the Direct Tax Committee of the PHD advising for large business houses. His area of specialization is Statutory
Chamber of Commerce & Industry and has organized and participated in Audit, Internal Audit due diligence audit, designing of MIS reports and
various seminars related to various aspects of the Income Tax Act. His budgetary control system. He has also conducted investigation audits.
area of specialization is Cross Border Investments and providing He is also certified for forensic accounting and fraud detection by ICAI
consultancy on International Joint Ventures. He deals extensively in and has successfully investigated number of assignments.
issues related to withholding taxes. He is actively involved in
preparation of transfer pricing studies and representing clients before
Kripa Shankar Shukla – FCA, B.Com, Cert FAFD (ICAI)
Transfer Pricing Officer.
[email protected]
Mr. K.S. Shukla is a fellow member of the institute and having an
Nitin Jain – FCA, B.Com, DISA, DIP IFR (ACCA UK) experience of 8 years. He provides expert guidance and supervision for
[email protected] various audits like statutory audits, internal audits, tax audits, due
Mr. Nitin Jain with an experience of over 10 years is actively involved in diligence, management audits. He is leading various projects on Internal
audit (Statutory and Internal) of big business houses, PSUs and banks. audit and risk advisory. He effectively engages with his clients in
Besides audit he has good experience in project consultancy, company providing solutions around design and operating effectiveness of
law matters and management consultancy. His area of specialization is business process controls.
Assurance and Company Law.

Our Team
Sanjeev Agarwal – FCA, LLB, M.Com Vardhman Agarwal – FCA, DFM(IIM), FAFD, Cert. ERM, B.Com(H)
[email protected] [email protected]
Mr. Sanjeev Agarwal is vested with experience of 10 years and has Mr. Vardhman Agarwal with over 9 years of experience in
expertise in Direct Taxation work. He is involved in tax advisory assurance, business process risk consulting and financial due
services and represents all major clients before tax authorities. diligence, has worked with multinationals and Indian business
houses across a range of industries. He regularly interacts with
Adhar Kumar – FCA, AML, FAFD, DISA, CCCAB, CCONPO, B. Com the senior management and audit committees of large
[email protected] corporations and provides thought leadership in the areas of
Mr. Adhar Kumar is having over 13 years of experience out of enterprise risk management. He has rich professional experience
which over 6 years of experience is in Forensic Investigations, Data in providing services to several national & global clients for
Analytics, Business Process Risk Consulting, Financial Due assisting in risk, controls related solutions and Corporate
Diligence, Data Analysis for Fraud Detection, CAAT Tools etc. He has Trainings. He was part of the PwC Risk Advisory team. He is a
handled various investigations/ forensic audits on behalf of various member of Institute of Chartered Accountants of India & Institute
legal agencies like CBI, EOW, SEBI etc. He has also worked with of Internal Auditors. He holds Certification in Financial Modeling
various corporate houses across a range of industries. He has rich from IIM Indore and Forensic Accounting and Fraud Detection /
professional experience in providing services to several national & Prevention from ICAI.
global clients for assisting in risk & control related solutions and
Corporate Trainings. He has also been involved in SAP and other
ERP implementations.

Our Team
Girish Saini – FCA, B.Com(H) [email protected]
Mr. Girish Saini with over 7 years of experience in assurance,
Other Team Members
enterprise risk management and forensic audits, has worked
We have a team of chartered accountants, cost accountants,
with business houses across a range of industries. He has rich
lawyers, IT specialists, trainees and paid assistants. We recruit,
professional experience in providing services to several
train, motivate and retain highly capable and sharpest talent,
national & global clients for assisting in risk, controls related
who bring quality in their work and deliver the best solutions. We
solutions and Corporate Trainings. He has also been involved
nurture our people and turn them in to our assets. Our people
in SAP and other ERP implementations.
are the brightest minds in industry and they blend together to
bring about the stupendous power of teamwork.
The firm has partners, who have a combined experience of more
Other Partners than 100 years having expertise in various fields like Auditing,
Taxation, MIS Reports, Business Process Risk Consulting, Financial
The firm has other partners, who have a combined experience of
Due Diligence, and ERP & SAP Implementation.
more than 100 years having expertise in various fields like
They have a rich professional experience in providing services to
Auditing, Taxation, MIS Reports, Business Process Risk Consulting,
various business houses across a range of industries around the
Financial Due Diligence, and ERP & SAP Implementation.
globe providing assistance in risk and control related solutions &
They have a rich professional experience in providing services to
Corporate Trainings.
various business houses across a range of industries around the
globe providing assistance in risk and control related solutions &
Corporate Trainings.

Our Team
List of industry segments for major clients:

Banking Aircraft
Hospitality Agro
Chartering

Education
Apparels Retail Insurance

Telecom Tower
Automotive FMCG Oil and Gas
erection
Power
genco,Trans Mining Ceramics
co and PSU
discom
Steel and Infrastructure
Healthcare Liquor
Metals and reality

Our Clients
Detailed list available on request
Geographical depiction of countries where we are executing assignments:

Our Clients
 Head Office:
B-255, 5th Floor, Okhla Industrial Area, Phase - 1
New Delhi – 110020, India
Tel: +91-11-47011850, +91-11-47011851, +91-11-47011852
+91-11-47011853

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