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A favorable business environment is a prerequisite for the economic growth of a nation. A country like India which is among the fastest developing countries in the world has the potential to surpass the leading countries in terms of business. The Make in India initiative which has been launched by the government in 2014 with a vision of transforming India into a manufacturing hub has made efforts to enhance the Ease of Doing Business (EODB) in India by attracting more domestic and international companies to invest and do business in India. India’s progress towards jumping 79 spots in the rankings to 63rd place out of 190 countries is a result of the government’s consistent efforts over the past few years and its endeavor to strengthen its position as a preferred place to do business.

Due to the circumstances which existed before, there was a time when it was asked – Why India? Now after looking at the impact of the reforms that have taken place in the country, it is being asked –‘Why not India’?


It is an initiative launched by Prime Minister Narendra Modi on 25 September 2014 to encourage national, as well as multi-national companies to manufacture their products in India. The main aim is to raise the contribution of the manufacturing sector by 25% of the GDP by the year 2025. It targets 25 sectors of the economy which ranges from Information technology (IT), Business Process Management (BPM), automobile, etc. with the main objective of job creation, fostering innovation, enhancing skill development, and protecting intellectual property.


MCA 21The MCA 21 project is instrumental in the incorporation process. It impacts the starting a business parameter in ease of doing scores. With this project in place, the ministry of corporate Affairs offers a broad bouquet of e-services to corporate citizens.   The MCA 21 project is also instrumental in ensuring processes for greater transparency in the conduct of a corporate entity.
GSTThe multiplicity of indirect taxes and multiplicity of institutions managing & collecting indirect taxes will be history. GST would club all the indirect taxes into one and there would be uniform and easy procedures of payment.
Taxpayers’ services and TRACES by Income Tax DepartmentCorporate Income Tax is adding value to the score of EODB. Through multiple projects, the Income Tax Department has facilitated various e-services to the individuals as well as the corporate citizens. These services include e-filing of income tax returns, online payment of taxes, e-TDS reconciliation etc.
The Insolvency and Bankruptcy Code, (2016)The Insolvency and Bankruptcy Code, (2016) is a big statutory reform on bankruptcy. The code brings about an amendment to the existing 11 laws to offer a consolidated law that defines a time limit to resolve insolvency and has a provision for a regulator to oversee the process. This will have a big implication on the EODB score.
e-biz portalThe e-biz portal provides various services to entrepreneurs in starting and running a business. The entrepreneur can create an account and avail of the industry-specific services at one location.
e-CourtsAutomation of courts through e-courts which allow the complainants to file cases electronically. There are many sub-parameters on which a lot remains, e.g. improving the quality of judicial processes, automation of courts, creation of alternative dispute resolution agencies, creation of more commercial courts, and bringing about judicial sector reforms.
e-ProcurementSelling to the government has become easier after the launch of the e-procurement module in various government departments. The tendering process has become online and transparent.
Land records and property registrationDigitization of land records and property registration helps businesses to have a seamless experience. Digital records are less prone to forgery and hence offer better enforceability.
e-MunicipalityThough e-Municipality is one of the Mission Mode Projects, a lot remains to be done in terms of simplifying the processes.
Pradhan Mantri Mudra YojanaThe government’s efforts to provide loans to the Micro, Small and Medium enterprises through Pradhan Mantri Mudra Yojna (PMMY) are paying off by making it easy for the MSMEs to obtain institutional loans from banks at very competitive rates.
Power Sector ReformsIndia’s score on getting an electricity connection is good for the EODB ranking. This can be attributed to the power sector reforms in general and the digitalization of the application process in particular.
Shram Suvidha PortalShram Suvida Portal is a one-stop shop for Labour Laws compliance. It consolidates information on labour inspection and its enforcement. It promotes the use of a common Labour Identification Number (LIN) to comply with more than 40 labor laws.



Macro economically a large population and a big market without borders with generally established logistics to do business are one of the major advantages of starting a business in India. India’s young population and growing economic power promise to be a magnet for foreign companies for decades to come.


India has a comprehensive network of tax treaties. Moreover, recently Indian tax system has been modified by the Direct Taxes Code as well as the Goods and Service Tax (GST) to provide ease of doing business.


In recent years, several important bills that are beneficial for most industrial sectors have been passed in the Indian Parliament. The Goods and Services Tax Bill has increased efficiency in the movement of products across India. The Direct Taxes Code Bill has cleaned up tax laws. But the most important (and most controversial) law will be the Land Acquisition Bill. The Companies Bill, which updates India’s corporate law for the 21st century, has also been passed. Such business-friendly laws make it easy for international players to actualize their plans of entering India.


There is a noticeable Low cost of operation possible from infrastructures to phones to the internet to labour to salaries to anything required to set up a business. Moreover, workers are ready to work at a low cost. Not only this but the tax strategies of India compared to other countries are very moderate and hence could cut the cost of operation of the business.


India has a well-regulated financial system that has access to developed markets all over the world and can be financed through multiple sources restricted to some rules and regulations of RBI etc.


India boasts a vast network of technical and management institutions that are of the highest international standards backed by regional and bilateral free trade agreements. In addition to that, there are numerous trading partners to trade with. These institutions develop excellent human resources.


India has a strong base of an English-speaking population for business purposes. The historical relationship between the UK and India means that Indians have a high level of English. Although the accent and vocabulary of Indian English are slightly different from that of British or American English, international organizations will benefit immensely from graduates’ ability to speak English fluently, as well as their command of the many local Indian languages. The relatively few language barriers make doing business in India quite attractive for international organizations.


Indians are known for their work ethics all over the world. The blend of hardworking nature with the willingness to learn and never say no attitude is what sets Indians apart from their South Asian counterparts. Moreover, the huge no. of the Indian population falls under the working-age group i.e. 18 to 65 adds more years to service availability in the Indian Market. The youth has come out of the closet and now looking for opportunities. Businesses can leverage this opportunity by generating employment and increasing productivity.


The government of India has taken several initiatives to attract foreign investments in India’s diverse sectors. It has announced a number of attractive schemes and policies from time to time to lure investments. The individual ministries of different industries have made special attempts to ease the rules and regulations related to foreign investment in the industry. 


Under the head of the ‘Start-up India Movement’ the government is introducing several reforms to create possibilities for getting Foreign Direct Investment (FDI) and foster business partnerships. Some initiatives have already been undertaken to alleviate the business environment from outdated policies and regulations. This reform is also aligned with the parameters of the World Bank’s ‘Ease of Doing Business’ index to improve India’s ranking on it.

India is well endowed with mineral and agricultural resources, and it has seen a significant increase in offshore outsourcing and manufacturing over the last couple of decades, which has helped India’s economy grow at a tremendous rate. It is very interesting how foreign companies and foreign investors are benefited from doing business in India. 


The World Bank’s Ease of Doing Business Project is the key driver of regulatory reforms. It ranks 190 economies on various parameters from cradle to grave of a business cycle on a set methodology which indicates how easy it is to do business in the country. These parameters are as under:


The introduction of SPICe+ and AGILE PRO form by the Ministry of Corporate Affairs (MCA) saves the time and effort required for a nascent Company Incorporation.

SPICE+ (Simplified Performa for Incorporating Company Electronically (Plus) is an integrated Web Form.

  • Five-page form and other attachments for reserving the name of the Company with the Ministry of Corporate Affairs have been simplified into a simple web service with only three fields to be filled.
  • Incorporation, DIN allotment, Mandatory issue of PAN, Mandatory issue of TAN, Mandatory issue of EPFO registration, Mandatory issue of ESIC registration, Mandatory issue of Profession Tax registration (Maharashtra), Mandatory Opening of Bank Account for the Company, and Allotment of GSTIN (if so applied for).
  • Elimination of incorporation fee for companies with an authorized capital of up to Rs. 15 Lakh.
  • No requirement of inspection before registration under the Shops & Establishment Act in Mumbai and Delhi.


Reduction of corporate tax from 30% to 25% for mid-sized companies. Domestic companies can opt for concessional tax regime @ 22% (effective tax rate: 25.17% inclusive of surcharge and cess). Such a company cannot claim any income tax incentive or exemption. Such companies are not liable to pay the Minimum Alternate Tax (MAT).

Robust IT infrastructure of online return filing for Indian taxpayers.

The Goods and Service Tax came into effect on 01 July 2017. It subsumes eight taxes at the Central and nine taxes at the State level.

The Employee State Insurance Corporation (ESIC) has developed a fully online module for electronic return filing with online payment. This has substantially reduced the time to prepare and file returns.

With the introduction of the e-verification system, there remains no physical touchpoint for document submission to income tax authorities.

Instead of filing 3 GST returns, the taxpayer has to now file only 2 returns.


The Insolvency and Bankruptcy Code of 2016 has introduced new dimensions in resolving insolvency in India. It is India’s first comprehensive legislation on corporate insolvency. The objective of the Code is the maximization of the value of assets by aiming at reorganization rather than the liquidation of the Corporate Debtor. The Code has seen success as the creditor is in charge rather than the debtor in charge. The increase in recovery rate to 71 % is evidence of its success. This law is evolving and once a long drawn and painful process, of closure of a business is now a faster and more efficient process. Under Fast-track Corporate Insolvency Resolution Process (CIRP) for mid-sized companies, the process for insolvency shall be completed within 90 days with a maximum grace period of another 45 days.

Key Benefits

  • Free up Resources of the Economy
  • Resolve a Viable Company
  • Better Realization by the Creditors
  • Liquidation of Unviable Business
  • Preserve Jobs


This indicator is concerned with measuring the protection of minority interests from conflict of interest and shareholders’ rights in corporate governance. Many amendments have been made to the Companies Act which has strengthened the minority investor protection in India.

Major improvements:

  • Claims against defaulting directors can be claimed now.
  • The constitution of the National Company Law Tribunal ensures greater shareholder protection.
  • Full Shareholder protection has been provided against defaulting directors and claims for damages.


Central Registry of Securitization Asset Reconstruction and Security Interest (CERSAI) is a geographically unified electronic registry that provides for registration by asset type. Since 2017, CERSAI also provided a search through the debtor’s name.

Priority is given to secured creditors over government dues for recovery of their dues.

Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) (Central Registry) Rules, 2011 was amended to include additional types of charges, including a security interest in – immovable property by the mortgage, hypothecation of plant and machinery, stocks, debt including book debt or receivables, intangible assets, patent, copyright, trademark, under-construction building.

The definition of property, which now includes immovable as well as intangible, allows CERSAI to register these additional charges.


Faster resolution of commercial disputes is pivotal to boosting investor confidence in the dispute resolution mechanism of the country. The adoption of technology for case management by lawyers and judicial officers is leading to speedier dispute resolution. e-filing of cases has been introduced in district courts of Delhi and Mumbai.

eCourts Services Portal

The app and portal offer the following case-related services for litigants and lawyers.

  • To access the laws, regulations, and case law.
  • To access the forms/documents to be submitted to the court.
  • To receive the notifications on emails/SMS.
  • To track the status of the case.
  • To view and manage the case documents.
  • To view court order decisions in a particular case.


Time and cost to export and import have been considerably reduced by electronic sealing of containers, up-gradation of port infrastructure, and allowing electronic submission of supporting documents with digital signatures.

India Customs Electronic Gateway (ICEGATE) allows traders the facility to lodge their clearance documents online at a single point.

ICEGATE offers a host of services:

  • Electronic filing of Bill of Entry
  • Shipping bill
  • E-payment of custom duty
  • Web-based Common Signer utility for signing all the Customs Documents
  • Facility to file online supporting documents through e-Sanchit
  • End-to-end electronic IGST Refund
  • 24X7 helpdesk facility for its trading partners
  • e-payment of Central Excise and Service Tax
  • online registration for Intellectual Property Rights (IPR)
  • Document Tracking status at Customs Electronic Data Interchange (EDI)
  • online verification of DEPB/DES/EPCG licenses
  • IE code status
  • PAN-based Customs House Agent (CHA) data,
  • IGST Refund Status and
  • links to other important websites/information related to EXIM Trade


India will now be counted among the top nations in the world where it is easiest to obtain all permits related to construction. Online Building Permission System (OBPS) is an online Single Window for obtaining all building permissions. In Delhi and Mumbai, all relevant agencies have been brought on board this single window system thereby eliminating the requirement on the part of the applicant to engage with each agency individually.

  • Municipal Corporations of Delhi, as well as Municipal Corporation of Greater Mumbai, have introduced fast track approval system for issuing building permits with features such as Common Application Form (CAF), provision of using digital signature, and online scrutiny of building plans.
  • Implementation of Risk-Based Classification of buildings helped in strengthening building regulations considerably.
  • Application for Joint Site Inspection which essentially stipulates all inspections with regards to Fire, Water, Sewage, Environment, Archaeological etc. be conducted simultaneously. This ensures transparency and efficiency in obtaining the required No Objection Certificates (NOC).
  • 2056 Urban Local Bodies across the country have replicated this Online Building Permission System.
  • Cost of obtaining construction permits reduced from 23.2% to 5.4% of the economy’s per capita income.


Digitization of land records has been one of the top priorities to bring efficiency and transparency in property-related transactions. It allows citizens to view property transaction records in a digital mode.

  • You can access all the property maps on a portal for free.
  • View & Download Obtain Property cards by clicking on the property map.
  • View & Download Detailed Plot Report can be seen just by entering the plot number

Benefits of Digitized Cadastral Maps in Delhi & Mumbai:

  • No need to physically visit government departments for obtaining maps.
  • Anytime, anywhere access to maps.
  • No hassle of handling bulky hard copies.


In 2016 India was at the 130th rank in the World Bank’s Ease of Doing Business Index. Within a few years, India has climbed up to the 63rd place which indicates an improvement of 67 ranks as a result of the improvement made by the Government in its policies launched under the Make in India campaign that targets creating more than 100 million jobs by the year 2022, making India a manufacturing hub and raising the contribution of manufacturing sector’s share to GDP to 25%. In a nutshell, the Government has been initiating significant reforms to improve the ease of doing business in India. Several initiatives have been taken by the Government across different parameters to support the growth of ease of doing business environment in the country. Consistent progress made across different parameters is likely to expedite India’s ranking in the top 50 countries in ease of doing business in years ahead.

We say this with full confidence this is the best time to be in India! In today’s India, many things are rising and many are falling. ‘Ease of Doing Business’ is rising and so is ‘Ease of Living.

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  • 01

    Valuation opinion requires the right blend of analysis, experience and professional judgement. Our team has a Registered Valuer as required under

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    Due Diligence

    We provide financial, tax and corporate law due diligence support to our clients for inbound and outbound transactions.

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    ESOPs are one of the important tools to attract and retain employees and have long term career with the organization.

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    There are several compliances specified under FEMA for Indian Companies having FDI and ODI (Indian entities having investments in overseas Joint Venture

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    NBFC Registration and Compliances

    We carry experience of 15 years for registration of the NBCF with the RBI or carry out the process for change in management and control of the NBFC.

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    FinTech Companies are broadly categorized into digital payments or digital lending Companies. At Affluence,

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    India has emerged as one of the most attractive destinations not only for investments

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    We provide the entire gamut of Corporate Law Services, essential in rapidly changing regulatory and corporate environment.

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    SEBI Registration and Compliances

    SEBI plays an important role in regulating all the players operating in the Indian capital markets. It attempts to protect the interest of investors and aims at

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    Stressed Asset Resolution under IBC

    We provide advisory and support services to the corporates/other entities, devising and structuring solutions for stress mitigation in their enterprises/units.

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    Initial Public Offer

    On the journey of transformation of a private company into a public company, success depends a great deal on a coordinated team

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    Direct Tax

    The efforts of any management in modern business environment are towards enhancing a shareholder’s value. The taxes (both direct and indirect) and

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    Indirect Tax

    We at Affluence, adopt a comprehensive approach for implementation and compliances related to the GST and with an object to offer seamless services to our clients listed below.

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    Accounts Outsourcing

    In the fast-changing environment, procuring and retaining skilled staff is a challenge. Specially in the case of SMEs, in the absence of accounting manual

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    Risk Advisory

    Today’s businesses across the globe increasingly seek better decision-making and stronger internal controls in order to attain greater shareholder value.

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    Startup and MSME Advisory

    ‘Startup India’ is a flagship initiative of the Government of India, intended to catalyze startup culture and build a strong and inclusive ecosystem for innovation and

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    Assurance and accounting services are directed towards supporting stakeholders such as lenders and investors. Our standardized

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    Directors Due Diligence

    Director stand in a fiduciary position with the Company and Director will be held liable if Director do not act diligently in discharging his/her duties.

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Our Team

People are our greatest asset and we believe in our people. Our multi disciplinary team would always go that extra mile to ensure that all the client deliverables are prepared within agreed time frame to technical standards and presentational quality. Our success is greatly dependent on quality and performance of our people.

  • CA Nimish Khakhar

    Nimish Khakhar

    He is a fellow member of the Institute of Chartered Accountants of India. He has over 23 years of experience in Transaction (M &A) and Transaction Support Services (Vendor and Buyer side Due Diligence). His Portfolio includes both Brick and Mortar and Modern Trade Businesses. He has played key roles in a few large M & A transactions and is also been actively involved in advising Unicorns since the commencement of operations.

  • CS S. N. Baheti

    S. N. Baheti

    He is an Associate Member of the Institute of Company Secretaries of India. He has 42 years of work experience in banking and financial services (including 34 years in IDBI group), with a diversified work profile having all-round exposure to activities of Development Financial Institutions, Infrastructure Debt Fund (NBFC), Mutual Funds, Commercial Banking, NBFC-HFC, and Company Boards including MD and CEO positions and Directorships in large corporates. Presently handling assignments as Insolvency Professional. He has played a key role as RBI representative in the resolution of one of the largest NBFC transaction.

  • Sanjiv Kumar Sachdev

    Sanjiv Kumar Sachdev

    Banking professional with more than 36 years of experience in Bank and more than 25 years of experience in Project Evaluation and financing, Financial Restructuring, Resolution of Stress Accounts, Debt Syndication, Infrastructure projects, Relationship management & networking, Business development, Legal and contractual Documentation and Business Planning. During his tenure with the Bank, he had held important portfolio’s and was heading Large Corporate Group of the Bank. He also worked in Infrastructure Corporate Group for Northern Region. He was involved in various policy meetings for development of Infrastructure Projects organised by various Govt agencies and Indian Banks’ Association. He has been Chairing many consortium meetings of Lenders for Debt Syndication as well as Resolution of Stress Assets.

  • CA Dwiresh Oza

    Dwiresh Oza

    He is having 27 years of extensive professional experience in Corporate Finance, Project Finance, Private Equity, Public/Rights Issues, Due Diligence, Corporate Debt Restructuring (CDR), ERP implementation, 50:50 International Joint Venture, Closely held as well as Listed Manufacturing Accounting, Statutory/Internal/Tax Audit and knowledge of IFRS. Have worked for more than 10 years in Infrastructure, viz. Ports and roads. Have demonstrated the ability to work across teams and with the senior management and Board of Directors in achieving various strategic initiatives on a time-bound and structured approach.

  • CA Payal Gada

    Payal Gada

    She is a fellow member of the Institute of Chartered Accountants of India and has 18 years of post-qualification experience. She is a registered valuer with IBBI as Valuation Professional and for the last 8 years, she is working on financial modeling and fair value analysis across different industries for diverse purposes, including regulatory/compliance, investment, and financial reporting. Fair valuation across asset classes including but not limited to business valuation, intangible, ESOPs, convertible instruments, and other complex instruments.

  • CA Rashmi Dubey

    Rashmi Dubey

    She is an associate member of the Institute of Chartered Accountants of India. Over 6 years of post-qualification experience she has specialized in Risk Advisory. Her Risk Advisory experience includes internal audit, ICFR, designing of SOPs, corporate governance, enterprise risk management, internal audits.

  • CS Sachin Kotian

    Sachin Kotian

    He is a fellow member of the Institute of Company Secretaries of India. Over 15 years of experience, he has expanded his advisory and compliance services in respect of Companies Act/ SEBI / RBI / FEMA /NBFC and other Corporate Laws. Further, Research is his area of interest.

  • CS Rajeshri Kanojia

    Rajeshri Kanojia

    She is an associate member of the Institute of Company Secretaries of India with 10 years of experience in secretarial compliance and legal matters. Her forte is RBI and FEMA compliances and she is leading advisory and compliances practice of financial services which includes NBFC and Fintech Companies. Her LLB qualification gives her an edge to attend Corporate agreements and Corporate Laws.

  • CS Vinesh Mestry

    Vinesh Mestry

    He is an associated member of the Institute of Company Secretaries of India. His horizon for more than 7 years in the field of Corporate Law and adjudication-related matters before Regional Directors, NCLT. His LLB qualification gives an additional advantage in matters relating to Compounding, Mergers & Amalgamations before Regional Directors, NCLT & Other Regulatory Authorities.

  • CS Bhavesh Chheda

    Bhavesh Chheda

    He is an associated member of the Institute of Company Secretaries of India. He has experience of more than 8 years and focuses on BSE and NSE Listed Companies and SEBI and Corporate Governance related matters. He also supports the compliance team in respect of Companies Act / RBI / FEMA / Corporate law.

  • CS Tanvi Shah

    Tanvi Shah

    She is an associate member of the Institute of Company Secretaries of India. Over 5 years of post-qualification experience, she focuses on Compliances of Companies Act/RBI/ and NBFC.

  • CS Karishma Parmar

    Karishma Parmar

    She is an associate member of the Institute of Company Secretaries of India. Her interest is in Compliances of Company Law/RBI and NBFC.

  • CA Ambarish Sodha

    Ambarish Sodha

    He is a fellow member of the Institute of Chartered Accountants of India. Over 43 years in direct tax litigation and tax advisory services, he appears before first and second appellate authorities. Over and above Profession, he is actively engaged in several social causes including promoting girls’ education in rural areas.

  • CA Payal Khakhar

    Payal Khakhar

    She is a fellow member of the Institute of Chartered Accountants of India. She has experience with over two decades. She heads indirect tax practice that covers regular GST compliances, GST reviews, and advisory services across different sectors.

  • CA Tejas Sodha

    Tejas Sodha

    He is a fellow member of the Institute of Chartered Accountants of India. He handles Direct tax litigation and compliance for over 12 years and regularly appears before first and second appellate authorities. He advises NRI on direct tax and withholding tax matters. His involvement in complex tax structuring has been appreciated by the Clients.

  • CA Dipesh Sangoi

    Dipesh Sangoi

    He is a fellow member of the Institute of Chartered Accountants of India. He heads Assurance practice and handles listed as well as unlisted companies and MNCs over the last 15 years. He manages Statutory Audits, Bank Audits - Central Statutory and Branch Audits, and Certification work for obtaining Bank Finance and certificates required for Public Issues.

  • CA Payal Doshi

    Payal Doshi

    She is a member of the Institute of Chartered Accountants of India. Her 10 years of experience is channelized towards Statutory Audits of Listed as well as unlisted entities and Tax Audits and Certification work.

  • CA Viral Shah

    Viral Shah

    He is a member of the Institute of Chartered Accountants of India. He has experience of more than 7 years and he is involved in Statutory Audits of Listed as well as Unlisted entities and Tax Audits and Bank Audits.

  • CA Ritesh Jain

    Ritesh Jain

    He is a member of the Institute of Chartered Accountants of India. He is engaged in compliance and management support functions. His industry experience contributes significantly to his delivery.

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