System Ceramics India Private Limited
System SpA is a large and well-known Italian company having a commercial network in 25 countries around the world. The company is an international leader in the field of decoration and automation for ceramics. The company has been active in India in 2004.
In order to enforce some management and governance changes in their Indian subsidiary the company approached Octagona India for assistance. Octagona India, through its legal wing, created the foundation of the change of management and replaced it with a new board. Post this, Octagona took up the mandate of secretarial compliances of the Indian subsidiary; accounting and tax validation; streamlining the ECB (External Commercial Borrowing) reporting situation; shifting of registered office from New Delhi to Ahmedabad in Gujarat State; Transfer Pricing study reports on an annual basis. Currently, apart from all the above tasks, Octagona is also assisting the company in regularising the stamp duty payment on the shares allotted by the company and in manpower recruitment. Besides these, Octagona India has also assisted in the company in:
- successful completion of Income Tax Assessment proceedings for two consecutive financial years.
- Helping in budgeting of the company and check with actual result of the company.
- Preparation of the quarterly and yearly reports for parent company in the proprietary software used by the Parent Company
Helping in preparing transfer pricing documentation for the company as described under Income Tax Act