Bansi S. Mehta & Co. caters to a wide range of clients across numerous sectors — from brokerage companies to those in the airline sector; from brick-and-mortar, pharmaceutical, chemical and fast-moving consumer good companies to new age startups like account aggregators and tech startups. Over the last six decades, since the inception of our firm, we have seen several sectors emerge globally and have provided support functions to businesses based on their evolving needs and models. This has helped us gain a detailed understanding of the business operations of an entity, which in turn enables us to provide holistic advisory.
Over the next decade, India is projected to become the third-largest civil aviation market in the world, exceeding its current standing of seventh. Airports in the country have witnessed major overhaul in the past decade or so where various companies have, in partnership with the government and Airport Authority of India, undertaken major renovation of airports in Tier I and II cities of the country. The peculiar nature of agreements between these companies and the government have raised several accounting and tax issues, which have been successfully addressed by our firm. The tax issues have also been represented by us before tax authorities which has resulted in stability and certainty in the tax issues arising from such agreements. We have also carried out several valuations in the aviation space.
According to the Reserve Bank of India (RBI), the Indian banking industry is adequately capitalised and well-regulated. Our engagement with our banking clients has helped us observe several accounting and tax issues faced by the banking sector, and we aim to bring an innovative, problem-solving approach while servicing these clients. We were engaged in some of the largest deals in banking sector where we have provided a wide spectrum of services including valuations.
Financial services, investment funds and mutual funds are also heavily regulated sectors requiring compliance with various laws, including SEBI and RBI laws, so as to ensure investor protection. These sectors need to ensure several compliances, including accounting and reporting, and often issues and ambiguities arise in the process. We help our clients understand these issues and provide them with well-thought solutions so as to ensure proper compliance with the attached laws. We have also extensively provided M&A services in this sector.
The cement industry is a capital-intensive and energy-consuming industry. This often presents organisations with several operational and structural challenges. Mobilisation of capital and resources in such complicated but necessary structures presents several financial and taxation-related issues that necessitate real-time help for the real estate industry. To that end, Bansi S. Mehta & Co. consistently assists clients with such matters. We have been servicing clients in the said industry over the last few decades. We have carried out valuations for some of the largest transactions in this space. We have also quantified benefits of various energy saving, waste recycling initiatives, etc. carried out by some of the largest cement manufacturers.
The chemical industry is one of the oldest industries in the nation and the fertiliser industry in India has experienced tremendous growth in the past few years. We have been servicing clients in both these industries over the last few decades. Our clients are engaged in production of chemicals for agriculture, leather, textile, paints, plastics and construction industries. We have undertaken tax advisory and valuations for several transactions in the chemicals and fertilisers space.
Real estate is a capital-intensive industry that needs substantial investments which require the pooling of diverse resources. This often presents organisations with several operational and structural challenges. Mobilisation of capital and resources in complicated agreements for joint development are necessary structures that present several financial and taxation-related issues that necessitate real-time help for the real estate industry. To that end, Bansi S. Mehta & Co. consistently assists clients with such matters. We also provide M&A services to real estate developers.
The engineering sector is of huge strategic importance to India’s economy as it is directly linked with the manufacturing and infrastructure sectors. Demand for engineering sector services and capital goods is being driven by capacity expansion in industries like infrastructure, electricity, mining, oil and gas, refinery, steel, automobiles and consumer durables. We have been handling various tax, accounting, valuation and other issues for our clients in this sector.
The fast-moving consumer goods industry accounts for 4% of India's GDP. We have provided accounting and advisory services to several companies in this sector. Our clients have often faced challenges regarding royalty rates, applicability of equalisation levy on import and export and the applicability of TDS and TCS provisions on sale and/or purchase of goods. We work to provide our clients with innovative solutions and represent them in legal matters pertaining to the industry.
The healthcare industry has grown beyond hospitals and has various branches like medical devices, clinical trials, outsourcing, telemedicine, medical tourism, health insurance and medical equipment. The private sector provides a majority of secondary, tertiary and quaternary care institutions with major concentration in metros, and Tier I and II cities. The healthcare sector is growing and has all the potential to grow at an exponential rate. E-pharma services such as e-consultation and e-diagnostic services are the new trend witnessed in this sector. Accounting, tax and other implications with respect to such business dynamics pose various challenges, which we have been regularly assisting our clients with. We have also undertaken valuations for M&A in this sector.
The hospitality industry was significantly affected by the Covid-19 pandemic. This sector is now expected to gain momentum along with the tourism and aviation industries and therefore needs robust advisory and consultation services. With our range and depth of experience, we have been able to provide the same. We have also carried out valuations for the hospitality sector. We have worked on some notable M&A deals in this space.
The Indian IT/ITeS industry is one of the great success stories of modern India putting the country on the global map as a leader in Information Technology (IT) and Business Process Outsourcing (BPO). The industry has not only transformed India’s image on the global stage, but has also fuelled economic growth and has contributed to social transformation in the country. India has the opportunity to tap a market that is growing day by day with its cost advantage, huge resource pool and expertise. The emergence of Artificial Intelligence has presented great opportunities in this industry. Bansi S. Mehta & Co. caters to some of the leading players in this industry having a presence across the globe.
The oil and petroleum sector is heavily regulated by the government owing to the fact that oil and petroleum are non-renewable sources of energy. This sector involves huge exploration costs and is capital intensive in nature. We recognise the challenges of this industry and that, consequently, our clients have to grapple with; and help our clients untangle the complexities that underlie the sector. We have been regularly assisting our clients in the sector with the tax, accounting, valuation and other sectoral issues.
There is a substantial movement in the energy sector with a focus on green energy. As India is reducing carbon footprint, a tall target has been set for this sector. The sector has seen many acquisitions and restructurings. The unreliability of electricity supply has prompted manufacturing companies to develop captive power plants (CPPs) to cater to their manufacturing units. The setting up of CPPs has raised several accounting queries. As providers of accounting and advisory services to such clients, we have undertaken a thorough study of the industry and have designed solutions for our clients to address the sector-specific challenges such as those regarding CPPs. We have carried out several valuations for power companies, for both, renewable and non-renewable energy. We have worked for some of the largest green energy players of India for their M&A and valuation requirements.
India is witnessing major activities in the infrastructure sector. There is continuous expansion and betterment of roads, bridges, railways, metros, etc. We have been servicing clients’ accounting, taxation and restructuring requirements in this sector. We work to resolve these questions by providing relevant advisory on tax, mergers and acquisitions, Ind AS and accounting matters. We have carried out various valuations in the infrastructure space.
Many companies have set up operations across the country that are at a distance from their consumers and sources of raw materials. This has paved the way for the logistics sector in India which supports the transportation of raw materials and finished goods to manufacturing industries and customer bases respectively. Our extensive work in this sector has helped us gain a deeper understanding of the tax and accounting systems followed in this industry, allowing us to provide our clients with relevant accounting and advisory services.
India’s media and entertainment industry’s rapid growth is due to a combination of a large, historically under-served rural population and a strong demand for local and sports content. With the nationwide rollout of 5G capability, estimated to be completed by the end of 2024, and with smartphone ownership in India set to grow at record pace, there is a huge opportunity in this industry. The modern media and entertainment industry of streaming, video games, e-sports and podcasts have completely revolutionised this industry. The traditional media and entertainment industry of Cinema, TV, music and radio has recovered from the pandemic slowdown and is showing a good potential of growth. We have been regularly assisting our clients in this sector with tax, accounting, valuation and other sectoral issues.
India has established a global reputation for manufacturing low-cost, high-quality, generic pharmaceuticals. Our firm has deep knowledge of the pharmaceutical industry. As the pharmaceutical industry is heavily regulated, there are several compliances, including accounting, that companies must adhere to and there often arise uncertainties in the due process. We help our clients understand the ambiguities and provide them with well-thought through, industry-specific and structured solutions. We have also played a role in many restructuring exercises in this sector.
India is one of the most promising and developing marketplaces in the world. With the gradual de-regularisation of the single brand and multi brand retail trading in India, various international companies have also been investing in this sector. Online retail trade has been one of the fastest growing sectors. With evolving business complexities and the global reach of online trading platforms, the tax legislation and policies have also seen various reforms in the past few years. We, at Bansi S. Mehta & Co., are regularly assisting our clients in this sector with tax, accounting, valuation and other issues that are being faced due to the evolving legislation involving this sector.
The sports industry is a sector that encompasses unique and novel business arrangements. Recently, various innovative types of agreements have been witnessed in the sports sector, which bring with it their own unique tax and accounting issues. We, at Bansi S. Mehta & Co., have helped our clients deal with the complexities attached to this ever-evolving sector by providing unique and out-of-the-box solutions.
Since the beginning of the telecom industry in the early 1990s, Bansi S. Mehta & Co. has been serving clients in this sector. We have closely dealt with the unique and peculiar issues that exist in this highly regulated business. We have addressed every major direct tax issue that has emerged and successfully advised and represented our clients before various income tax authorities and appellate levels. In addition, we are also part of the team for assistance for representation before various High Courts and the Supreme Court.
Bansi S. Mehta & Co. has provided a whole gamut of advisory and audit services to companies in the textiles industry. During our engagements with our clients, we came across several sector-specific challenges for which we developed unique and innovative solutions. We have carried out various valuations for companies in the textile space.
