General Manager - Finance
MPCL Industries Limited
Total years of experience :21 years, 0 Months
Sourcing and negotiating other avenues of investments including solar assets and diversification, strategic and due diligence support for newer and diversified investment opportunities, Legal and Financial support to existing business, Accounts and Direct and Indirect Tax compliances.
Special achievement:
Sourcing of new avenues of investment in solar and other renewable energy, Due Diligence / Analysis, sourcing funds from PSU and private banks / Financial Institutions
Hedging related legal disputes resolution in Bombay High Court
Successfully managed insurance claim pending with Tata AIG General Ins
Settlement and closure of Old Sales Tax & VAT liabilities; Indirect Tax review and Analysis
Control over branches and divisions and minimize the losses and optimize the revenue
Mumbai based Specialty Additives manufacturing group. Presently I am overseeing affairs of joint venture with Netherlands based company Zeelandia.
Special achievement:
•Funding & banking, managing relations with Banks for term loan & working capital loans
•Training & Orienting staff for Accounts & Audit
•Liaison with Statutory Auditors for finalization of Accounts
•Internal Financial Control & concurrent Management Audit
•ROC compliance
•Oracle ERP set up
Sabbatical March 2014 - Sept 2017
Since April 2009, Worked as VP - Internal Audit, Managed a 7 member team overseeing internal audit & Management audit of factory Operations, JV Operations. Ensuring the profitability by controlling Expenses, gold losses & dust recovery, devising SOPs for costing, cost control measures & gold losses minimisation.
Special achievement:
Recovery of debts / stocks from distributors, employees, JV partners.
Devising SOPs for factory operations for all manufacturing facilities in India.
Turning around of old /obsolete / slow moving / non moving stocks, unlock the value & maximize the working capital cycle.
Devising M.I.S. formats all across manufacturing facilities in India thereby setting early warning system of potential risk mitigation.
Role of a Brand Custodian (CEO) for 2 brands of Gitanjali, viz. Diya & Rivaaz - reviving the troubled brands & repair the division, fraud detection, implementing successful recovery process. Managing recovery of old dues, reorganizing marketing & operations team. Managed a 57 member team overseeing all India marketing & sales promotion and Operations.
Sourcing, Planning & Managing working capital & terms loans from bank. Setting up systems & procedures for global entities of group in India, Paris, Al-Quoz & Dubai. Liaison with Auditors for designing unit at Paris. Overseeing daily, weekly & monthly Management Systems for Effective Decision Making. Account Finalisation, Audit & local Compliance.
Special achievement:
Arranging fund based & Non Fund Based Credit limits from SBI Vile Parle.
Recovery of old Disputed Debts in Consultation with French Auditors.
Working in Consultation with S P Jain Faculty under family Managed Business Entity to improve the efficiency & Cost control, Re Aligning Inventory & making efficient working Capital management.
HOD & In charge of Finance & accounts on all India Basis. Arranging funds from banks for foreign subsidiary & working capital. Managing a team of 16 accountants. Establishing Best Business & accounting Processes, System improvisation & implementing Automation across Branches. Key Player & advisor to the Senior Management on business Policy Matters. Overseeing Financial Management of Wholly Owned Subsidiary (WOS) In India.
Special Achievement:
Arranged foreign currency loan & working Capital limits (C/C) with Bank of India Sion.
Branch Operations streamlining, old debtors recovery, legal matters & setting up of MIS systems for 8 Branches.
Arranging optimal Commercial vehicle finance.
In charge of Subsidiaries located across 4 countries. Played a key role during the implementation and maintenance of accounting system in Tally (Indonesia), QuickBooks (USA) & SAGE (UK). Established & successfully implemented robust Management Information System Enabling Strategic Management Decisions.
Special Achievement:
•Drastic reduction in marketing cost in the USA, Old Debt recovery in Philippines, salvaging & inventory realignment in Indonesia resulting in saving in inventory carrying costs. Finalized warehousing contract in UK thereby ensuring saving in logistic & warehousing costs for export shipments.
•Setting strong reporting parameters for overseas subsidiaries proved to be very useful for posterity for follow up & remedial Actions
In Charge of all India Finance & Account having 6 branches Involving Accounts Finalizations, liaison with statutory auditors RSM & Co. System set up, ERP Implementation, Staff Training. Reporting to the country head. Managing a 14 member team including 2 CAs. Liaison with Principals on Monthly General Accounts (MGA), remittances, reconciliation on regular Interval. Setting up banking including foreign remittances, FX rates Negotiations.
Special Achievements:
•Setting up ERP System in close consultation with Dubai team of in house group Company namely, ID (Information Dynamics).
•Negotiations with HSBC for FX Buying
•Synchronizations of Banks CMS System with accounting system for speedier & accurate reporting of collections thereby ensuring effective debtors Management.
Safmarine India Private Limited Head Finance & Accounts
Bombay