August rainmaker

Theme: Independence Day exclusive

The RAINMAKER

The Rainmaker

The Rainmaker

PARTICIPATING PREFERENCE SHARES VALUATION

Our client, Tonbo imaging Pte Ltd is a KNOWLEDGE TID-BITS
Singapore company with an associate in India
and operations across globe. They are into the SEBI has allowed
business of supplying imaging and night vision registered AIFs to
technology to various fields including global invest within overall
defence industry. The company was issuing aggregate ceiling of
series B participating preference shares for 500 million USD.
which they wanted valuation and FEMA
advisory on investment to be made in the
Singapore Company through Alternative
Investment Funds.
The challenge was to arrive at the right
valuation approach when the shares are
participative in nature, optionally convertible
and redeeming period is not defined. Parallelly
there was continuous pressure from client to
deliver the report with a short notice. Right
help from Nitish, Bhavana and Nisha helped us
take a stand. Conceptually valuation can be
justified from various dimensions, but choosing
the most reasonable way of doing it is the key.
With an extensive reasoning and support of
Smita ma’am, we successfully delivered the
assignment on time.

The Rainmaker

JUST LIKE THE
LOTUS, WE TOO

HAVE THE
ABILITY TO
RISE FROM THE
MUD, BLOOM
OUT OF THE
DARKNESS AND
RADIATE INTO
THE WORLD

The Rainmaker

THE FIRST GST RETURNS

New taxes may come-old taxes may go, but the assesse has
to comply with the both. Having said and acted accordingly,
at MCA in the midst of the festive season and most awaited
office trip during August (YES you heard that right!), we
successfully took up the task of filing the First GST Returns.
Our work on filing the GST returns had started before hand
by educating the clients through continuous e-mails and
telephonic conversations. When we finally received the data,
a new challenge was at our door step, which was offsetting
the liability. There was a situation where the client paid the
tax and when we tried to offset the liability, due to rounding
off difference of Two rupees (Rs.2) we were not able to file the
returns. We made the client pay a challan of Rs.100 and
then file the returns.
The other challenge was the GST portal outage and non-
recognition of the DSC in many cases. Though we were
aware that the due date has been extended, we at MCA
always believe that such concession in time is for others and
not for us, irrespective of multiple challenges we are proud to
say that we were able to file all the returns on time without
taking shadow of the extension.
The team is looking forward for new challenges that we will
work to overcome under the professional guidance of Ashok
sir and collective efforts.

The Rainmaker

Best of NAMMA MCA

The Rainmaker

BEST OF NAMMA MCA

This time the topic of the month was decided as Insolvency &
Bankruptcy Code. The introduction of this Code has been a significant
reform that provides a collective mechanism to lenders to deal with the
overall distressed position of a corporate debtor. One of the significant
features of the code is that it allows financial creditors to assess the
viability of the debtor as a business decision and plan a speedy
liquidation. And for doing so, the Code has distinguished between an
Operational Creditor and a Financial Creditor.

The Article shared by Srinivas on 31st August, 2017 brings out NCLT
ruling regarding what is not covered in the definition of Financial
Creditor. With the recent ruling given out by NCLT along with the
precise facts and details relating to that same, it is picked as Best of
Namma MCA for August 2017.

To read the article refer to Namma MCA dated 31st August 2017
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The Rainmaker

Best of NAMMA MCA

The Rainmaker

RAINMAKER SKILL FOR THE MONTH
– PLANNING & Presentation

“By failing to prepare, you are preparing to fail.” ― Benjamin Franklin
“Give me six hours to chop down a tree and I will spend the first four
sharpening the axe.” ― Abraham Lincoln

ON SHARPENING YOUR

PLANNING &

PRESENTATION SKILLS

ON 15TH SEPTEMBER

2017

Lead CAST
Chief Editor – Smita Ramakrishna

Designing – Manoj HR
Content Editor – Nisha Raman & Bhavana G

The RAINMAKER