Finance and Accounts
From OCT 2016 to Date with Shipra Construction, New Delhi. As CEO
Firm is engaged in Laying Pipeline by Horizontal Directional Drilling under rivers and canals. We take contracts from Main contractors of Indian Oil and GAIL. The firm is promoted and managed by me. The main activities of firm are being mentioned hereunder.
• Identification of projects floated by mainly Indian and GAIL
• Quotation and negotiation of contract and procurement of work order.
• Arrangement of suitable machine, material and labor to execute the project.
• Submission of Design and drawing for approval of Indian Oil and GAIL.
• Management and execution of project.
• Submission of as built drawings and Invoice.
• Maintenance of Accounts, banking, Finance, GST and Tax Laws.
From Nov.2010 to Sep. 2016 with Trenchless Engineering Services Private Limited, New Delhi as CFO
• Roles and Responsibilities
Day to day look after the accounts, banking, finance, commercial and statutory activities of the company
• Arrangement of fund based and non fund based needs of the company for existing and new projects of the company.
• Liaison with Sales Tax, Vat, Income tax, Service Tax, Entry Tax , Customs, PF, ESI consultants of the company to complete statuary formalities of the company.
• Finalization of accounts for Statutory, Tax and Foreign Transactions audit of the company.
• Liaison with internal auditors of the company
• Preparation of cost sheets, evaluation of New Projects.
• Preparation and comparison of budgets of Projects to calculate the variance and report Management.
• Preparation of price budgets for New Contracts for the purpose of bidding.
• Fulfillment of the documents of the banker to provide stock and debtors report, cash flow, project status to calculate the drawing power of the cash credit account.
• Dealing with RBI for project export approval to file PEX forms and project progress report in the forms FER-I and FER-II and various approvals for service contracts and remittance of Foreign exchange.
• To apply and obtain Import licenses against Foreign Exchange earnings under the scheme serve from India to save custom duty for the Import of Equipments, Tools and consumables.
• Set up of Project, site, branch offices and registration of company in Bangladesh, UAE, Nigeria, Israel and Taiwan to execute the projects and falicilitation of movement of equipments.
• To work the possibilities of savings in Double Taxation provisions for profits and TDS deducted out of the proceeds of foreign remittance.
• Opening and maintenance of EEFC accounts with Banks to negotiate inward and outward remittance.
• Preparation of MIS showing daily, weekly and monthly progress of the company.
• To conduct meetings inter department and intra department.
• To educate and train Managers and other accounting and finance staff
• Surprise site visits of the current projects and meet high officials of clients
• To vet Purchase orders, Performa Invoices of High value to overview and safeguards of the company.
• To overview contracts with Clients like IOCL, GTCL, GAIL, CPC to secure the financial Interest of the company.
• To set up the financial and accounting system of the company.
Highlights and Achievements:-
• Arranged Rs.105 Crores Funds for various Projects of the company.
• Obtained WCT exemption in Andhra Pradesh, Uttar Pradesh, Rajasthan
• Procured 10 Crores SFIS Import License to save custom duty.
• Set up Offices at Bangladesh, Nigeria , UAE,Taiwan and Israel
• Regularized Govt.dues and Statutory Payments.
• Set up of Inventory and MIS system in the company.
• Streamlined Debtors receipt and Foreign Remittance
Since Oct’06 to Nov. 2010 with Dana Motors Ltd., Nigeria as HOD-Accounts
Managing Central Accounts department and four branches in Nigeria with 30 staff.
Handling the following activities:
o Accounting of eighteen dealers located all over Nigeria.
o Consolidating Daily, Weekly and Monthly MIS and profitability reporting to Management.
o Credit to Corporate customers and dealers.
o Managing banking, fund planning, budgeting and suppliers payments.
o Looking after parts planning and control.
o Authorization of Cash Payments
o Overall inventory management.
o Preparation of final accounts and tax returns.
Pivotal in detecting frauds and financial irregularities in accounts, stores and other
Related departments and reported to management to the tune of USD 10 millions.
Streamlined the financial reporting system to management for efficient management.
Trained existing and New Staff in accounts and inventory management.
Recovered Old and bad debts to the tune of USD 2 MILLION.
Managed a team of 30 members.
Jan’99-Oct’06 with Cherrington Drilling Services Ltd., New Delhi as Financial Controller
Managed the complete operations of accounts and finance department to ensure proper projection of the company’s financial position.
Maintained the relationship with domestic and foreign bankers for procurement of project loans, other routine banking transactions.
Liaison with IOCL and GAIL for Identification, Procurement and Signing the Contract.
Effectively liaised with taxation authorities for obtaining 7% exemption.
Instrumental in obtaining a project loan of Rs 3.5 crores.
Initiated the usage of International Accounting Package MYOB.
Successfully coordinated with Indian Oil for getting hold of a Directional Drilling contract for worth Rs. 11 crores and negotiation with customs for obtaining clearances of equipment worth Rs. 3.00 Crores.