Executive Director
Sandeep S Garg & Associates
Total years of experience :34 years, 0 Months
Financial Accounting
Internal Audit
Indirect Taxation
Virtual CFO
Handling Finance and Account .
Advising Financial Strategy to Management.
Fund Management and Banking Solutions
Automation of Accounting.
Prepare company for Future IPO.
Managing Working capital requirement and day to day Cash flow.
Monthly Cashflow of $15 mn is managed for smooth operation of company.
Developing and establish accounting procedure across all companies and block locations, to ensure accounting is done uniformly in accordance with law as per best accounting practices.
To ensure that Fixed assets are recorded and maintained as per companies policies.
Provide activity wise costing to respective operations head for better cost control.
Preparation of Business forecast for Annual and monthly operating plan on rolling basis.
Plan and monitor cost against forecast and current operation of company.
Initiate cost control measures to ensure that cost is optimized.
To analyse and review all Expenses data across all companies and discuss with CEO for better business planning.
Present financial analysis on quarterly, half yearly and annual basis to Board of Directors.
Ensure to Management that Internal Financial control are effectively implemented as per companies policies.
From April 2006 to present:
Reliance Communications Limited is one of the largest Business house with Group Turnover of US$ 15.5 billion across Telecom, Power, Financial Services, Defense Production and Entertainment.
February 2012 to till date - Head Banking & Trade Finance, Navi Mumbai, (Reliance Communications Limited, Navi Mumbai is 2nd largest Telecom service provider, providing Voice, Data, IDC and Infrastructure services across India with turnover of US $ 2.5 billion)
Promoted to Vice President - Banking Ops and Trade finance to reorganise department for improving operational efficiency and better Cash flow Management, created an internal organisation by segregating operations and control function. Timely realisation and recording of collection resulted in better Cash flow management including timely Investment of Surplus funds.
Enterprise Impact
Establish a structured trade finance (STF) operation in India around Company’s and third party trade flows, to build a STF book.
Managing Buyers Credit, LC’s, BG’s, for US $ 0.75 billion Non-fund based limit. Timely payments ECB loans and at competitive exchange rate and management of FOREX.
Arranged Non-fund based limits for Inter Company Letter of credits for US $0.30 billion resulting in settlement of overdue inter company transaction and additional cash available for operations.
Arranged Intra day OD limit of US $ 0.03 billion from HDFC Bank which helped in utilisation realisation same day.
Changed collection partner from Private CMS company to Banks (Stan C and Yes) resulting in timely collection of revenue of US $ 1.79 billion from distributors and deposit in Bank account. This has resulted in saving of Interest cost of US $ 0.005 billion p.a. on average daily collection.
Automation of Distributor collection and H2H entries in books of account resulted in accuracy and saving of 3 nos of Manpower.
Proper Management of FOREX has given saving in Exchange rate fluctuation of Us $ 0.0001 Billion p.a.
Managing International & Inland Cash Collection including reconciliation and settlements.
Responsible for RBI and other Regulatory compliances including for Joint Ventures and Wholly owned Subsidiaries, ECB Loans.
Liasioning with Banks for Operations, Limits sanction and negotiation of Bank Charges. Refund of excess bank charges of US $ 0.0015 billion.
Process reengineering and automation of Collection and reconciliation process.
Re-engineered Bank accounts and optimisation done from 2236 nos. Bank accounts to 425 nos.
Detected fraud of US $ 0.0008 billion in reconciliation of Collection Bank account of one of Circle.
August 2010 to January’12 - Regional Controller-East Region, Navi Mumbai.
Governed entire Commercial operations including Network, project and Capex accounting for Eastern Region consist of 9 states. Supervising 5 (five) Circle commercial Heads.
Enterprise Impact
Vendor management of difficult territory of Bihar & Jharkhand. Settlements done for over 200 vendors in record 4 month time by recovering over US $ 0.0015 for Bad work & negotiation of Service Charges and recovery of Inventory of US $ 0.0022 billion.
Better coordination and timely MIS with Business controller has resulted in Business planning and region succeeded in Increase in revenue and cost saving of US $ 0.0015 billio a month.
Evaluate and approve Tariff product proposals.
Completion of pending Sales Tax assessment for earlier years resulting in Statutory compliance.
Responsible for the supervision of network accounts, project accounting and Capex accounting.
Proper supervision of Revenue Assurance department resulted finding of arbitrage of talk time, corrective action in STV resulted in saving of US $ 0.0008 billion.
April 06 to Aug 2010 - Commercial Head (Rajasthan Circle)
Heading Commercial functions of Circle which includes, Accounting, Business planning and Budgetary Control, Taxation, Procurement & Logistics (Includes Site acquisition) and Legal for all operations of Telecom Services, Telecom Infrastructure &, DTH Business. Total team size handled 45 nos.
Enterprise Impact
Responsible for Billing and collection of Tower sharing.
Responsible for implementation of process and controls including management audit, internal analysis and checks to implement controls, R del acquisitions and subsidy controls.
Responsible for the appointment of channel partners, fixation of credit limits of channels, commission payouts and claw-backs.
Regulatory compliance and liaison with VTM for CAF management and CCA for subsidies. Worked for RDEL and realised Subsidy of US $ 0.0015 billion.
Ensuring compliance of Service Tax, TDS and other statutory laws at Circle.
Final Approving Authority for Purchase Orders, Work Orders and Payments. Negotiation of Purchases.
Managing and supervising Project and Product warehouse.
Dec’05 - Apr’06 with M/s. Monnet ISPAT Limited as General Manager - Accounts
Joined Company at upcoming plant of 1600 TPD Sponge Iron & 90 MW power plant. Handled entire plant accounting and Local Tax and Indirect Taxes. Setup new Accounts and finance department.
Enterprise Impact
Significantly contributed in designing the Fixed Assets Accounting System. Handled a capitalisation of US $ 0.015 billion. Actively involved in Funds Management at project site.
Engaged in heading the entire operations for the Accounts, Direct & Indirect Taxation, and Stores Department and procurement.
Successfully managed the project accounting for “Greenfield project for setting up a 1600 TPD Sponge Iron & 90MW power with investment over US $ 0.09 billion”.
Mar’05 - Dec’05 with M/s. GMMCO Limited, Chennai as Divisional Manager (Finance & Accounts), is distributor for Caterpillar USA earth moving equipment and DG sets belongs to CK Birla Group of Company, Oldest Business group of India with turnover of US $ 1.60 billion in Automobile, Paper, IT and Automotive Components.
Promoted to Group company Responsible for managing various activities related to Accounting, Banking and Taxation. Handled Team size of 30 people.
Enterprise Impact
Responsible for Funds Management and implementing fund investment strategies.
Handling procurement and stores function.
Reviewing, preparing and maintaining the books of accounts along with Payroll & PF Superannuation.
Developed Fixed Assets Accounting System.
Pivotally contributed in the implementation of VAT across all the branches of the company in the States of Maharashtra, Kerala, Orissa, Goa, and Andhra Pradesh & Silvassa.
Supervising the Fringe Benefit Tax payment.
Responsible for preparing and filing of Annual Income Tax return and TDS returns.
Apr’90 - Mar’05 with M/s. National Engineering Industries Limited, Jaipur is second largest Ball Bearing Manufacturing Company in collaboration with NTN, Japan and Brenco Incorporated, USA belongs to CK Birla Group of Company, Oldest Business group of India with turnover of US $ 1.6 billion in Automobile, Paper, IT and Automotive Components.
Joined company as Management trainee in 1990 and reached to level of Sr Manager - Accounts. Handled various departments Accounts, Banking & Trade Finance, receivables Management, Sales Tax and Indirect taxes, Stores, Tax audit and Payroll.
Enterprise Impact
Responsible for finalisation of Quarterly, Half yearly and Annual Accounts with Statutory Auditors.
Ensured compliance with the New Accounting Standards, TDS Laws and other statutory laws.
Accountable for taxation, funds management, day-to-day monitoring of funds and coordination with Banks for Bills discounting, Letter of Credits, Bank Guarantee etc.
Preparing & Submission of CMA data, arranging sanction of Adhoc limits and submission of FFR and other returns.
Successfully re-structured the Bank limits and Prepayment of ICD's resulting in savings in Interest of US $ 0.0005 p.a.
Holds distinction of arranging for WCDL loan worth US $ 0.0030 billion and US $ 0.0015 billion from IDBI & IFCI respectively during the 1997-98.
Pivotal in arranging SSI Bill discounting limits from SIDBI in 1994 starting with US $ 0.00007 billion and renewal with increase to US $ 0.00085 billion discounting limit.
Contributed in the introduction of:
New Internal Audit methodology in consultation with Ernst & Young International, New Delhi during 2001-2002.
FD scheme for employees and arranged funds worth US $ 0.0022 billion.
Sales Planning Process by applying the new methodology, thus improving the forecasting, planning and inventory reduction to the tune of US $ 0.0005 billion & improvement in customer Delivery.
Proved instrumental in implementing new dealer’s commission scheme based on products for better funds realization management and recovery of Interest on late payments.
Efficiently enhanced the Credit Management and Monitoring System through proper Classification of Customers, Credit periods and Payment of Incentives.
A course from institute of Chartered Accountants of India. A highest institute in Accountancy Profession of India.
Bachelors Degree in Science with Physics , Chemistry and Maths as Major Subject.
High School in Science with Physics , Chemistry and Maths as Major subject.