Finance and Accounts Team - Elixir Strategic Management
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Finance and Accounts Team

Services

ESM has established and trained a dedicated team to handle various finance and accounts-related responsibilities during the Corporate Insolvency Resolution Process (CIRP) and Liquidation Process, with the objective of providing effective support to Insolvency Professionals who are partners of this Insolvency Professional Entity. The following are key functions performed by this finance and accounts team:

  • Assessment of Financial Position: To assess the financial status of the Corporate Debtor and prepare a comprehensive statement of assets and liabilities as on the date of commencement of CIRP or liquidation, and to present the same before the Committee of Creditors (CoC) or stakeholders, as applicable.
  • Financial and Document Analysis: To review and analyze the financial statements and other financial and legal documents of the Corporate Debtor to gain insight into its financial condition, causes of financial distress, potential remedial measures, fund and cash flows, and root causes contributing to the financial stress.
  • Supervision of Finance Functions: To oversee the finance and accounts operations of the Corporate Debtor, monitor cash flows from ongoing operations, and ensure the proper maintenance of records pertaining to CIRP costs and related expenditures.
  • Coordination with Auditors: To liaise with internal auditors, statutory auditors, and transaction auditors by providing requisite data and information in order to facilitate timely completion and submission of audit reports.

All the aforementioned tasks are also undertaken during the liquidation process in support of the Insolvency Professionals affiliated with ESM who are appointed as liquidators. Comparable financial and accounting services are likewise extended in the Insolvency Resolution Process and Bankruptcy Proceedings of individuals, proprietorship concerns, and partnership firms.