Years of

Leadership

w w w. r b s a . i n

Valuation
Investment Banking
Advisory Services
RBSA is a leading global independent
Valuation and Investment Banking
Advisory firm. RBSA with its own
offices in India, USA, Singapore and
Middle East and trusted WorldVal
affiliates across Australia, China, Africa,
Europe, Russia, UK, USA & Brazil
provides Clients with seamless &
Worldwide Valuation & Transaction
Advisory services.
 Years of
Leadership

Global Presence - RBSA

RBSA is a leading global independent Valuation and Investment Banking Advisory
firm.

RBSA delivers trusted advice, principally in the areas of Valuation, Investment

Banking and Advisory Services. The firm's world class capabilities and resources,
combined with an agile and responsive delivery, distinguishes the RBSA client
www.rbsa.in experience.

We serve Global clients, with an excellent local domain knowledge and expertise
across key geographies. We have service capabilities across the full spectrum of
Valuation including

• Business & Equity Valuation

• Financial Reporting & Tax Valuations
• Brand & Intangible Asset Valuation
• Industrial and Plant & Machinery Valuation
• Real Estate Valuation
• Mines & Mineral Reserve Valuation
• Specialized Asset and Infrastructure Valuations

Our Investment Banking practice, a SEBI Registered Category I Merchant Bank,

focuses on Fund Raising requirements for Mid-Market and Emerging Companies.
We also have an active and strong Fairness Opinion practice with an established
client base amongst large public listed and multinational companies.
We deliver trusted advice, principally in the areas of
Valuation, Investment Banking and Advisory Services.
Throughout the past four decades of our existence we
have been on a forefront in providing independent,
professional, ethical and high quality Services.
 We firmly believe that the best way to a secure future is to
continually improve and expand our services to our clients.
Making sure they are totally satisfied is paramount in all we
do which is why we place total emphasis on team work with
clients, tailoring each aspect of the project to their precise
requirements

Client Focus Clients rely upon RBSA for the right direction at right time
and for assistance needed to achieve identified goals.

We see more than Businesses and Assets. We see your

problems and understand your objectives, see the value
underlying your company and deliver the best solutions and
results.

We have consistently delivered high-class solutions and

results which are designed to meet each client's individual
needs. With our multidisciplinary expertise across various
industry segments we have brought clarity to difficult and
complex situations.

World Class Our team has excellent worldwide delivery capabilities

across various industry segments. In every area of our
operations we work hard to deliver the highest possible level
of customer care, the best value for money and the most
appropriate solutions all backed by the drive, innovative
imagination and resourcefulness that make RBSA a world class
company.

We firmly believe in the philosophy of ‘Our Asset Our People’.

We take pride in a team of highly qualified, skilled and

Our Asset motivated Professionals who are encouraged to lead,

innovate and excel. Our team consists of top professionals

‘Our People’ who share a common vision and passion, providing our
clients with critical insights and advise to succeed in today's
competitive environment.
Services
Valuation
Investment Banking
Advisory Services
Valuation Advisory
Business Valuation
Valuation of Brands, Intangible Assets & Intellectual Property
Valuation of Financial Securities, Instruments and Derivatives
Valuation of Industrial Assets, Plant & Machinery
Valuation of Real Estate
Valuation of Infrastructure Assets & Specialized Assets
Purchase Price Allocations for Mergers & Acquisitions
Impairment Studies for Tangible Assets
Impairment Studies for Intangible Assets & Goodwill
Mines, Mineral Advisory and Valuation
Valuation of ESOPs and Sweat Equity
Valuation for Tax, Transfer Pricing and Company Law Matters
Fairness Opinions

Investment Banking (SEBI Registered CAT I Merchant Bank)

Mergers & Acquisitions
Transaction Structuring & Advisory
Due Diligence - Financial, Tax and Business
Fairness Opinions
Corporate Finance & Advisory
Private Equity and Venture Capital
Debt Solutions and Syndications
Partner Search and Joint Ventures
Corporate Restructuring, Business Reorganization

Advisory Services
Financial Advisory for Dispute & Litigation
Valuation & Financial Advisory Services
Loss Assessment, Damages & Loss of Profit Analysis
Independent Expert testimony
Anti-trust & Competition Advisory
Post-Acquisition Disputes, Joint Venture & Shareholder Disputes
Civil & Construction Disputes, Real Estate Disputes
Environment Damage Assessment
Intellectual Property Rights Dispute
Forensic Audit
Strategic & Risk Advisory Services
Techno Economic Feasibility Studies
Economic Viability & Financial Appraisal
Business Plan Formulation
Real Estate Advisory Services
Financial Modelling, Highest & Best Use Studies
Investment Related Due-Diligence Exercises
Infrastructure Advisory Services
Bid Advisory and Bid Process Management
Preparation of Information Memorandums
Preparation of Detailed Project Reports
Technical Assurance Services
Technical Due Diligence Reviews for Mergers & Acquisition
Lender’s & Investor’s Engineer Services
Independent Engineer’s Services
Technical Opinion and Audits
Chartered Engineers Opinion and Certification
Project Cost Investigation and Forensic Advisory
Project Appraisal and Monitoring
Transfer Pricing
Cost Segregation Studies
RBSA is an international, independent
and full service Valuation firm. We are
an Internationally Recognized and
Respected Brand having leadership
position in Valuation Consulting.

We provide . . .
“Worldwide Valuation Services”
Valuation
Business Valuation
Valuation of Brands, Intangible Assets & Intellectual Property
Valuation of Financial Securities, Instruments and Derivatives
Valuation of Industrial Assets, Plant & Machinery
Valuation of Real Estate
Valuation of Infrastructure Assets & Specialized Assets
Purchase Price Allocations for Mergers & Acquisitions
Impairment Studies for Tangible Assets
Impairment Studies for Intangible Assets & Goodwill
Mines, Mineral Advisory and Valuation
Valuation of ESOPs and Sweat Equity
Valuation for Tax, Transfer Pricing and Company Law matters
Fairness Opinions
 Valuation Advisory
The Valuation Advisory Services of RBSA cover the complete spectrum of purposes
for which valuation advice may be required, such as
Mergers & Acquisitions - Pre Deal Advisory & Valuation
Fairness Opinions
Financial Reporting under Indian GAAP, IFRS & US GAAP
Purchase Price Allocations for Mergers & Acquisitions
Fair Value Accounting
Portfolio Valuations for Private Equity & Real Estate Funds
Impairment Studies for Tangible Assets, Intangible Assets
Goodwill Impairment
Banking (Lending against Assets)
Distress Assets / Non Performing Assets
Courts & Litigation Support Proposed Acquisition of Ras Lanuf Refinery of Libya by Indian Oil
Management Information & Strategic Planning Corporation
Insurance
Taxation & Regulatory Affairs
Transfer Pricing
ESOPs & Sweat Equity
Initial Public Offerings
Securitization
Cost Investigations
Quantity Surveying and Estimation

Valuation of Fixed Assets of various Automobile companies for the

purpose of Acquisition / Financial Reporting
Business, Equity & Financial Valuations
Listed and Unlisted Companies
Closely Held Businesses
Portfolio Valuations
Securities and Fractional Business Interests
Professional Practices
Illiquid Debts and Equity Securities
Thinly Traded Stock of Publicly Listed Companies
Stock Options, Warrants, Grants and Rights
Liability Valuation
Valuation of Brands, Intangible Assets & Intellectual
Property
Goodwill, Brands, Trade Marks, Copyrights, Patents
Designs, Licenses Software and IT Products, Databases
Technological Know-how, Human Resources
Engineering Drawings, Industrial Designs
Customer Contracts & Relationship, Customer lists
Distribution Rights & Network
Franchises and Licensing Agreements
Non compete agreements
Valuation of Industrial Assets, Plant & Machinery
Automobile Plants, Cement, Ceramic Industries
Engineering, Steel Plants, Metal Smelters, Mining Assets
Fertilizer Plants
Petrochemical Complexes, Refineries
Pharmaceuticals and Chemical Companies
Power Generation and Transmission Companies
Information Technology, Telecom Assets etc
Valuation of Infrastructure Assets
Dams, Lakes, Water bodies
Industrial Water Rights
Hazardous Land Fills
Highway and BOT Projects, IT Parks
Telecom and Communication Infrastructure
Airport and Aviation Infrastructure
Railway line and Railway Infrastructure
Ports, Harbors etc
Mines, Mineral Advisory and Valuation
Due Diligence, Valuation & Advisory
Mining Feasibility Studies
Mineral Reserve Certifications
Review of Operations, Mining Leases
Technical Opinions
Stock and Inventory Valuations, Stock Audits
Valuation of ESOPs and Sweat Equity
Valuation of Specialized Assets
Fairness Opinions

Valuation of Real Estate

Residential, Commercial Real Estate
Retail Spaces, Shopping Malls, Multiplexes
IT Parks
Petrol Pumps
Hotels & Hospitality Properties
Industrial Properties etc.

- Valuation Advisors
Valuation for Financial
Reporting
RBSA specializes in Valuation and Advisory for Financial Reporting of large public
listed companies. We have performed numerous complex, domestic and
cross-border Financial Reporting engagements involving leading Corporates
across various industries. Our qualified and experienced professionals have
experience in a wide range of valuation and financial reporting issues.
Our skill and exposure to deliver unbiased fair value analysis in
the new financial reporting requirements brings the much
needed clarity to various stakeholders, auditors,
regulators, investors, etc.
• Fairness Opinions for Mergers & Acquisitions
• Business Combinations : Valuation for Purchase Price
Allocations under IFRS and US GAAP (IFRS 3 or SFAS
141/142) for Mergers & Acquisitions
• Valuation of Tangible and Intangible Assets, Goodwill for
First Time Adoption under IFRS
• Impairment Reviews and Valuation for Tangible and Valuation of entire Real Estate Portfolio of HDFC Bank for Basel II Capital
Intangible Assets, Goodwill under IAS 36 and AS 28 Adequacy
• Valuation of Tangible & Intangible Assets for Merger,
De-Merger & Reorganizations
• Share Based Payments
• Fair Value Accounting
• Valuation of Financial Instruments, Derivatives and
Securities under AS 30, 31 & 32
• Valuation of ESOPs and Sweat Equity
• Valuation for Tax, Transfer Pricing and Company Law
matters

Valuation of Generation Assets - Power Plants, Transmission Assets &

Distribution Assets of Reliance Infrastructure
Purchase Price Allocation Fair Value Accounting under IFRS
Purchase Price Allocation (PPA) poses a complex challenge The Fair Value Accounting norms provide guidance for
for the acquiring company. The process involves determination of fair value estimations for financial
determining the purchase price, identifying hidden reporting purposes and comparability among fair value
reserves and charges reflected in the assets and liabilities measurements thus eliminating inconsistencies in
shown in the acquiree’s balance sheet, as well as approaches. Stringent fair value measurement principles
identifying and valuing intangibles assets and liabilities necessitate market participant assumptions of highest and
previously not recognized in the acquiree’s balance sheet. best use regardless of the acquirer's intentions.
PPA requires companies to report the Fair Value of assets
and liabilities acquired in their financial statements.
We conduct an analysis of business plan which enables
identification of central value drivers of the acquired
company and provides an understanding of the amount
and composition of the purchase price paid, the fair values
of tangible and intangible assets acquired, the liabilities
assumed and the residual goodwill.

Impairment Reviews
Impairment Analysis addresses financial accounting and
Valuation for Merger of JSW Steel & Ispat Steel
reporting for the impairment of Tangible Assets, Intangible
Assets and Goodwill. It requires recognition of an
Impairment Loss if the carrying amount of the asset is not
recoverable from its cash flow and requires the
measurement of this loss as the difference between the
carrying amount and fair value of the asset (IAS 36 and AS
28). Impairment Analysis provides useful guidance and
insights into an unexpected or sudden decline in the
service utility of a Tangible or an Intangible Asset. Goodwill
Impairment could occur when the current and projected
performance of the acquired entity is below what was
estimated at the time of acquisition.

- Valuation Advisors
Mines & Mineral Reserves,
Oil & Gas Reserves Valuation,
Due Diligence and Advisory
RBSA has acted as a Financial Advisor to BP for Valuation of Oil
& Gas Reserve & Resources of Reliance Industries Ltd. in the
KG basin (including the well known KGD6 block).

RBSA as a part of their Extractive Industries and Natural

Resources Practice, has also carried out Valuation, Due
Diligence and Financial Analysis of Mines and deposits
representing more than 90% Copper Reserves, more than
90% of Zinc Reserves and more than 85% of Lead Reserves of
the Country (India).
Valuation of Mines and Mineral Reserves of Hindustan Zinc Ltd. and
The main services include Due Diligence, Valuation and Hindustan Copper Ltd.
Advisory, Feasibility Studies, Review of Operations, Mining
Leases and Technical Opinions.

We have performed Mining Valuation for major crude oil &

natural gas reserves, metals & minerals like coal, Iron ore,
copper, zinc, lead, potash, limestone, chrome, rock
phosphate etc.

Our expertise extends to Fully Developed and Operational

Mines, Partly Explored Deposits, Exploration properties,
Major and Minor Minerals, Metallic (Ferrous & Non ferrous),
and Non Metallic Minerals, Fuel Minerals, Open Pit as well as Valuation of Petroleum, Oil & Gas Reserves
Underground Mines.
Valuation of Brands,
Intangible Assets &
Intellectual Property
Banking and Finance
Increasingly companies are realizing that the majority of
their value lies in intangible assets like brands, copyrights
or patents. More and more bankers and financial
institutions are agreeing to securitize and fund against
reputed brands and strong intangibles as collateral
security.
RBSA provides a number of related services, including:
Brand & Intangible Due Diligence
Securitization & Leveraging of Brands & Intangible Assets
Financial Reporting and Valuation
Valuations are required for:
Purchase Price Allocations & Impairment Reviews
Tax planning
Transactions and Dispute Resolution
With the spate of recent M&A activity, there is an increased
need for intangible asset valuations for International
Financial Reporting Standards (IFRS), US GAAP and Indian
GAAP.
Valuations also form the basis for risk and performance
management.
Transaction Support
We help our clients leverage the value of their intangibles
through acquisitions, tax planning, selling/mortgaging etc.
We ensure that the intangible assets are utilized to their
full extent along with tangible assets.
The transaction support services that we provide for
brands and intangibles are:
Brand Due Diligence for acquisitions & disposals
Royalty Rate determination
- Valuation Advisors
BP (British Petroleum) and Reliance Industries have entered into a Strategic Partnership, whereby BP
acquired a 30% participating interest in 21 Oil & Gas Blocks - Production Sharing Contracts that Reliance
operates in India at a price of USD 7.02 Billion.

RBSA has acted as a Financial Advisor to BP for Valuation of Oil & Gas Reserve & Resources of Reliance
Industries Ltd. in the KG basin (including the well known KGD6 block).

Financial Advisor to BP for

Valuation of Oil & Gas Reserve
& Resources of Reliance
Industries in the KG basin
(including the well known
KGD6 block)

Valuation Advisors

Government of India, Department of Disinvestment, has appointed RBSA Advisors as a Financial Advisor
& Merchant Banker for Valuation of Equity Shares of Hindustan Zinc Ltd. (HZL) for potential stake sale.
HZL has a Market Capitalization of more than USD 12 Billion as on the date and Government holds 29.54 %
stake in the company – the residual stake sale is expected to fetch more than USD 4 Billion.

HINDUSTAN ZINC LIMITED

Financial Advisor to the Govt of

India, Ministry of Finance
(Department of Disinvestment)
for the proposed USD 4 Billion
residual stake sale in Hindustan
Zinc Ltd.

Valuation Advisors
GAIL Gas Ltd., a subsidiary of GAIL (India) Ltd. has formed Joint Venture with Vadodara Municipal
Corporation for City Gas Distribution Business.

RBSA has acted as an Exclusive Transaction Advisor for the said engagement.

Acted as Exclusive Advisors for

Joint Venture / Merger of City
Gas Distribution Business of
Gail, Gail Gas and VMSS at
Vadodara City

GAIL(India)Limited

Exclusive Transaction Advisors

Alliance Tire Group is a leading manufacturer of Off-Highway Tires globally. Warburg Pincus, A Private
Equity Fund has sold its majority stake in ATG B. V. Netherlands to Kohlberg Kravis Roberts & Co.

RBSA acted as Financial Advisor to Warburg / ATG for Valuation of ATG Group transaction. The deal was
Valued at over USD 650 Million.

Financial Advisory Services for

Valuation of Equity shares of
Alliance Tire Group B. V.
Netherlands, Israel Business
and US Business for Management
Review and Tax purposes

Valuation Advisors
Global Alliances
RBSA is a founder member of WorldVal International, a network of leading
Valuation firms across Australia, ASEAN, China & Hong Kong, India, Middle East,
Africa, Europe, Russia, UK, US, Brazil & South America, providing International
Clients with seamless & Worldwide Valuation services.

WorldVal has full service Valuation capabilities across Business & Financial Valuation, Industrial and
Plant & Machinery Valuation, Real Estate Valuation etc.

WorldVal serves Global clients, with an excellent local domain knowledge and expertise across key
geographies.
 Our US Affiliate, SRR is a global financial advisory firm specializing in
Investment Banking, Valuation & Financial Opinions and Dispute
Advisory & Forensic Services. They serve range of clients from
Fortune 500 corporations to privately held companies in numerous
industries around the world. Their clients rely on SRR’s premier
expertise, deep industry knowledge, and unparalleled
responsiveness on complex financial matters.

SRR has been ranked the #1 Fairness Opinion Advisor in the United States and #1 globally in the Thomson
Reuters M&A Financial Advisory Review (Full Year 2014). The rankings are based on the number of
transactions for which the firm served as advisor.

Advisor Rank Advisor Rank

Stout Risius Ross, Inc. 1 Duff and Phelps 1
Duff and Phelps 2 JP Morgan 2
Stifel / KBW 3 Stout Risius Ross, Inc. 3
Houlihan Lokey 4 Stifel / KBW 4
JP Morgan 5 Sandler O’Neill Partners 5
Morgan Stanley 6 Houlihan Lokey 6*
Sandler O’Neill Partners 7 Bank of America Merrill Lynch 6*
Goldman Sachs & Co 8 Goldman Sachs & Co 6*
Barclays 9 Morgan Stanley 9
Bank of America Merrill Lynch 10 Evercore Partners 10

Source : Thomson Reuters (2014) Source : Thomson Reuters (2013)

Our Investment Banking practice, a
SEBI Registered Category I Merchant
Bank, focuses on Fund Raising
requirements for Mid-Market and
Emerging Companies. We also have
an active and strong Fairness Opinion
practice with an established clientele
amongst large public listed and
multinational companies.
Investment
Banking
(SEBI Registered CAT I Merchant Banker)
Mergers & Acquisitions
Transaction Structuring & Advisory
Due Diligence - Financial, Tax and Business
Fairness Opinions
Corporate Finance & Advisory
Private Equity and Venture Capital
Debt Solutions and Syndications
Partner Search and Joint Ventures
Corporate Restructuring, Business Reorganization
 Investment Banking
RBSA Capital Advisors LLP, a group company, a SEBI Registered Category I
Merchant Bank, focuses on Fund Raising requirements for Mid-Market and
Emerging Companies.

RBSA Capital Advisors also has an active and strong Fairness Opinion practice,
with an established client base amongst large public listed companies.
The assortment of services spans across :
• Mergers, Acquisitions, Joint Venture and Strategic
Transactions
• Fairness Opinions
• Capital Issues Management - Initial Public Offers, Follow-
on Public Offers, Rights Issues, Qualified Institutional
Placements
ž’’ Open Offer Management
ž’’ De-Listing and Buyback
ž’’ Private Equity Syndication

Arrangement of Consortium Finance and External Commercial Borrowing
for Industry
ž’’ Debt Syndication and Placement
Project Finance - Term & Working Capital Finance
Financing of Infrastructure Projects
Debentures, Commercial Paper & Other Securitized
Debts
Overseas Debt Funding in the form of ECB’s
ž’’ Corporate Restructuring / Business Reorganization
ž’’ Other Capital Market / Merchant Banking Services -
Valuers and Advisors for ESOPs, Sweat Equity
ž’’ Due Diligence - Financial, Tax and Business
Fairness Opinion & Due Diligence
Fairness Opinions
A fairness opinion is a financial advisor's opinion and an
independent objective analysis from a financial point of view;
as to the fairness of the financial terms of a Business
Combination or a Corporate Transaction. There are many
reasons for fairness opinions, most of which deal with
transactions (business combinations) involving publicly
listed and closely-held companies. An independent opinion
of fairness relative to the exchange of values can provide
substantial support for such transactions. Furthermore,
independent fairness opinions are useful as a defense against
Merger / Joint venture of City Gas Distribution business for GAIL & VMSS
dissident shareholder claims.

Due Diligence – Financial, Tax and Business.

A due diligence is an essential part of the review and
assessment of any investment opportunity, disposal,
reorganization, listing and especially required for Merger
and Acquisition purposes. The scope of the due diligence will
depend on the size and scale of the transaction and the
surrounding risks. The key findings of the due diligence
review would include factors that will impact the pricing of
the transaction, possible warranties that should be sought
by the buyer/seller and potential post acquisition integration
issues. RBSA has an extensive experience in all aspects of due Acquisition of Port & Warehousing Facilities in UAE on behalf of an Indian
diligence and has served several corporate firms and Group
investors.

- Investment Banking
Advisory Services
Our Advisory Services have consistently delivered
high-class solutions and results which are designed to
meet each client's individual needs. With our
multidisciplinary expertise across various industry
segments we have brought clarity to difficult and
complex situations.

Financial Advisory for Dispute & Litigation

Valuation & Financial Advisory Services
Loss Assessment, Damages & Loss of Profit Analysis
Independent Expert testimony
Anti-trust & Competition Advisory
Post-Acquisition Disputes, Joint Venture & Shareholder Disputes
Civil & Construction Disputes, Real Estate Disputes
Environment Damage Assessment
Intellectual Property Rights dispute
Forensic Audit
Strategic & Risk Advisory Services
Techno Economic Feasibility Studies
Economic Viability & Financial Appraisal
Business Plan Preparation
Real Estate Advisory Services
Financial Modelling, Highest & Best Use Studies
Investment Related Due-Diligence Exercises
Infrastructure Advisory Services
Bid Advisory and Bid Process Management
Preparation of Information Memorandums
Preparation of Detailed Project Reports
Technical Assurance Services
Technical Due Diligence Reviews for Mergers & Acquisition
Lender’s & Investor’s Engineer Services
Independent Engineer’s Services
Technical Opinion and Audits
Chartered Engineers Opinion and Certification
Project Cost Investigation and Forensic Advisory
Project Appraisal and Monitoring
Transfer Pricing
Cost Segregation Studies
Independent Engineer and
Technical Due Diligence
Independent Engineer’s Services (IE)
An Independent, Lender’s or Investor’s Engineer in any
Industrial, Real Estate or Infrastructure project principally
assures and ensures the correctness of the project
execution and its periodic reporting / monitoring to the
lenders / investors. This may also be extended to
verification of the completion of project and commissioning
of any Industry. The Role of an IE may differ from project to
project; however, the primary role remains risk mitigation
with technical & commercial assurance.
Independent Engineer’s Services for Gujarat International Finance Tech
City (GIFT) project at Gandhinagar, Gujarat on behalf of consortium of
banks and Financial Institutions.
Technical Due Diligence
Technical Due Diligence forms a vital part of the services
offered by us. We review the technical and commercial
robustness of the Manufacturing facilities, Infrastructure
and critical Project contracts to support the financing of
the project or a target Due Diligence.
We perform Technical Due Diligence on the target
company for the acquirer / investor to make informed
and diligent acquisition decisions and understand risks
inherent in the deal.
Technical Due Diligence across Industries for various purposes like M & A,
Investment, Restructuring, Financing etc.
- Advisory Services
Strategic & Risk Advisory Services
Strategic Advisory

Our Strategic Advisory practice positions risk as a strategic imperative given today's world of greater complexities, uncertainties
and accelerating change. RBSA supports clients in defining their strategy, formulating business objectives and managing
performance while achieving a striking balance between risk and reward. An organisation's ability to effectively mitigate risk and
capitalise on the opportunity is its growth differentiator in the market. Our teams work cross-functionally with the client to
identify risk in strategy, finance, operations and compliance, while distinctively integrating the traditional disciplines of risk
management.

Techno Economic Feasibility Studies

Our multidisciplinary Strategic & Risk Advisory team conducts

Technical, Commercial & Financial Appraisal of proposed projects
& existing businesses.

We work with Lenders, Investors & Governments and provide

independent expert opinions on Techno Economic Viability of
Green Field/ Expansion Projects and Restructuring proposals. Our
team of experts assesses the risks associated with the investment
and advice on its mitigation strategy.

RBSA has the capability to undertake Financial and Economic

appraisal studies for complex projects and restructuring
situations.
Financial Advisory
for Dispute & Litigation
Our multidisciplinary team of professionals advise clients and
their legal counsel as they address challenging financial and
economic aspects of today's complex disputes. We seek to
understand the unique aspects of each case and its underlying
issues and facts to assist our clients determine an effective
approach. We articulate our findings in an organized and
persuasive manner, whether in the form of a written report or
testimony in court as an Expert Witness & undergo effective
cross examination, if necessary.
The core services offered by us includes :
Service Offerings:
Ÿ Valuation & Financial Advisory Services
Ÿ Loss Assessment, Damages & Loss of Profit Analysis
Ÿ Independent Expert testimony
Ÿ Anti-trust & Competition Advisory
Ÿ Post-Acquisition Disputes, Joint Venture
& Shareholder Disputes
We identify and analyze Valuation, Economic, Financial, Business
& Technical issues that are in dispute. We serve as Valuation
consultants, Financial consultants, Independent Expert
witnesses and Arbitrators. We support parties in negotiations
and mediations and help clients resolve commercial disputes
using our financial, technical, industry, data analytics and
technological skills.
Ÿ Civil & Construction Disputes, Real Estate Disputes
Ÿ Environment Damage Assessment
Ÿ Intellectual Property Rights dispute
Ÿ Forensic Audit
- Advisory Services
Clients
Automobile UCO Bank Government of Uttar Pradesh
Alliance Tire Group B. V Oriental Bank of Commerce Life Insurance Corporation of India
Maruti Suzuki Allahabad Bank Unit Trust of India
Punjab Tractors Indian Bank Air India
Ashok Leyland Corporation Bank National Insurance Company
Tata Motors Andhra Bank New India Assurance Co.
Ficosa International Vijaya Bank Food Corporation of India
Minda Industries Bank of Maharashtra
Volvo State Bank of Travancore
Hotel, Hospitality & Entertainment
MICO - BOSCH Dena Bank
Taj Group of Hotels (Indian Hotels)
Swaraj Mazda State Bank of Bikaner and Jaipur
Le Meridien
Eicher Motors State Bank of Mysore
The Jammu & Kashmir Bank India Tourism Development Corporation
Royal Enfield
Kotak Mahindra Bank Marriott Hotel
Tata Holset
Indusind Bank Highstreet Cruises and Entertainment
ArvinMeritor
Cummins Citi Bank Aamby Valley
Mahindra Ugine Yes Bank Duet India Hotels
Development Credit Bank Fort of Bundi
Standard Chartered Bank Sambhar Lake (270 Sq Kms Salt Producing Lake)
Chemicals & Fertilizers Punjab & Sind Bank Reliance Big Entertainment
Henkel CAC IFCI Cineline Entertainment (CineMax)
CABB, GmbH SIDBI Adlabs Films
GNFC State Bank of Patiala SAMHI Group
Rashtriya Chemicals and Fertilizers State Bank of Indore Deccan Chargers
ICI India United Bank of India Cavalli Club
United Phosphorus LIC Housing Finance Deccan Chronicle
Nagarjuna Fertilizer & Chemicals Bombay Mercantile Co-op Bank SkyGourmet Catering
Clariant Chemicals Woori Bank LSG Skychef
Chambal Fertilizers & Chemicals DBS Gate Gourmet
Kiri Dyes & Chemicals Ratnakar Bank
Dharma Productions
SPIC ARCIL
The Lalit
Vertellus Specialties
Anil Starch
Cement Infrastructure
Tuticorin Alkali Chemicals & Fertilizers
ACC Air India (Indian Airlines)
Gujarat State Fertilizers and Chemicals
Brahmaputra Valley Fertilizer Corporation Lafarge Reliance Infrastructure
Birla Cement Reliance Energy
Consultants Binani Cement Kandla Port Trust
KPMG Sanghi Cement Hindustan Shipyard
PriceWaterHouse Coopers Grasim Industries GMR Group
Deloitte Aditya Cement Sembawang
BNP Paribas J. K. Cement NCC Infrastructure Holdings
BDO Dalmia Cement Sambhar Lake, Dam, Salt Water Bodies
SBI Capital Markets Shree Cements Container & Warehousing Corp.
Grant Thornton Mangalam Cement Ahmedabad Urban Development Authority
Baker Tilly Sagar Cements IFFCO
Teba Cement Factory L & T Infrastructure Finance Co.
Banking & Financial Institutions National Highway Projects on BOT Basis.
Reserve Bank of India ONYX Asia Services
State Bank of India FMCG Gujarat International Finance Tec-City (GIFT)
ICICI Bank ITC Ranjit Buildcon
Punjab National Bank Coca Cola Shapporji Pallonji
Bank of India Allanasons
Canara Bank KS Oils
Iron & Steel
Bank of Baroda Cargill
Café Coffee Day Stemcor
IDBI Bank
Bunge India Essar Steel
HDFC Bank
Godrej Beverages & Foods (Nutrine) JSW Steel
Deutsche Bank
Unit Trust of India Modern Foods Jindal SAW
Asset Reconstruction Company of India Esveegee Breweries (Gujarat Ambuja) Bhushan Steel & Strips
Pegasus Asset Reconstruction Jyothy Consumer Products Bhushan Power & Steel
Union Bank BSN Medical (Nivea) Severfield Rowens PLC
Central Bank of India Tata Steel & Strips
Axis Bank Government & Public Sector Steelcast
Syndicate Bank Government of India Ratnamani Metal & Tubes
Indian Overseas Bank Government of United States JSW Ispat Steel
Edelweiss Government of Rajasthan Jindal Stainless Ltd.
L & T Infrastructure Finance Co. Government of Punjab
Logistics Adani Gas National Textile Corporation
Bluedart Express Prize Petroleum Company Tata Housing
APL Logistics Hindustan Oil Exploration Company National Buildings Construction Corporation
CMA CGM Oil Field Instrumentation Construction Products International Co.
DHL Worldwide Bongaigaon Refinery & Petrochemicals
Balmer Lawrie & Co. Numaligarh Refinery Telecom, Information Technology &
Maersk India Greater Calcutta Gas Supply Corp. Electronics
Ameya Logistics Tide Water Oil Company Tata Consulting Services
Deccan Cargo & Express Logistics Bharti Airtel
Stolt Tank Containers BV Pharmaceuticals Reliance Communications
UPS Group Companies Glenmark Pharmaceuticals WNS Holdings
Fourcee Infrastructure Hospira Hutchison Essar
Ranbaxy FLAG Telecom
Metals & Mining Industry Torrent Pharmaceuticals Cognizant Technologies
Hindustan Zinc Aventis Pharma Tata Teleservices
Hindustan Copper Oman Chemicals & Pharmaceuticals Reliance Globalcom
Manganese Ore Aurobindo Pharma Collabera
JSW Mining Merck BPL Mobile
Indian Rare Earths Orchid Chemicals & Pharmaceuticals VANCO PLC
Sociedade De Fomento International Matrix Laboratories IBM Daksh e-Services
Binani Group Dishman Pharmaceuticals E Funds International
Industrial Development Corporation of Trident Life Sciences Alcatel
Orissa Emmellen Biotech Nokia India
Kudremukh Iron Ore Co. Piramal Enterprises CMC
Ashapura Minechem EISAI Foxconn India
Stemcor Daichi Sankyo
Capita Offshore Business Services
Alkem Laboratories
Aksh Optifibre
Manufacturing & Engineering Mastek
BHEL Power
CNO
Eaton Corporation Bharat Heavy Electricals
Sembawang Engineers and Constructors Gujarat Industrial Power Corporation
Goldline Group Himachal Pradesh State Electricity Board Textile & Leather
Senaat Group CESC Eland
Richardson & Cruddas Reliance Energy Oswal Woollen Mills (Monte Carlo)
Hilti Damodar Valley Corporation National Textile Corporation (NTC)
Kirloskar Oil Engines Torrent Power Nandan Exim (Chiripal Group)
HMT Jyoti Structures Tommy Hilfiger
Voltas Suzlon Energy Mudra Lifestyle
Flat Products Equipment Schneider Electric Amitara Industries
National Engineering Industries KEC International Krishna Knitwear
Tata Power Mayur Uniquoters
Private Equity / Venture Capital Reliance Power Himatsingka Seide
Warburg Pincus ABB Power Raymond
Kohlberg Kravis Roberts Bombay Rayons Fashions
Bennett Coleman & Co. Real Estate Spykar
Indian Hospitality Corporation Shapoorji Pallonji & Co.
Kshitij Venture Capital Fund Tata Realty & Infrastructure
Others Industries
Horizon Realty Fund IREO
Pantaloons
Evolvence India Emaar MGF
Saint Gobain
Navis Capital Shantigram Adani Township
Anchor
Duet India Hotels Raheja Group
Orix Auto Infrastructure Services
IHHR Hospitality Kshitij
Bell Ceramics
DLF
J P Infrastructure Formica
Petroleum, Petrochemicals, Oil and Gas
Emerald Island Pacific Pipe Systems (Doshion)
British Petroleum
Reliance Industries Aamby Valley Triveni Bialetti Industries
Gas Authority of India (GAIL) Horizon Realty Trust Paper Products
Shaleem Petroleum Co SAOC IHHR Hospitality Yatra
Oil & Natural Gas Corporation (ONGC) Orchid Infrastructure Developers P & S Jewellery
Indian Oil Corporation (IOCL) Wadia Group Asian Granito
Hindustan Petroleum Corporation Lodha Group White Horse Ceramics
Bharat Petroleum Corporation Prestige Ravin Cables
Ras Lanuf Refinery, Libya Mantri Group Ballarpur Industries
Manipal Group
Credentials
RBSA has advised leading companies on Mergers & Acquisitions
and Financial Reporting matters. We have also acted as domain
experts and valuation advisors on several transactions. Some
of the main transactions and other instances where our
services have been utilized are:
Merger of Air India and Indian
Airlines
Valuation Advisors
Demerger and Restructuring of
Reliance Infrastructure Ltd. into
various Business Groups
Valuation Advisors
Impairment Review of
Essar Steel Ltd.
Impairment Review
Due Diligence and Valuation of
Land & Real Estate for acquisition
by Maruti Suzuki across India
Advisory Services
Proposed Acquisition of Ras Lanuf
Refinery of Libya by
Indian oil Corporation Ltd.
Valuation Advisors
Valuation of Tangible Fixed Assets
of JSW Steel Ltd. & Ispat Steel Ltd.
for the Purpose of Merger
ISPAT
Valuation Advisors
E xc l u s i ve A d v i s o r s fo r D u e
Diligence and Valuation of Portfolio
of Real Estate Assets of various
Banks & Asset Reconstruction
Companies for Acquisition Purposes
Valuation Advisors
CEMENT
Valuation of Mines & Mineral
Reserves and Fixed Assets of
Binani Cement Ltd. Binani Zinc
Ltd., Goa Glass Fibre Ltd. BT
Composites & Binani Industries
Ltd. for IFRS 1 Purposes
Valuation Advisors
Valuation of KEL for proposed
Joint Venture with Bharat Heavy
Electricals Ltd.
Transaction Advisors
Valuation of Assets of Strategic
Electronics Division (SED) for
F i n a n c i a l Re p o r t i n g a n d
Management Review
Valuation Advisors
LAFARGE
CEMENT
Acquisition of L & T's Ready
Mix Concrete Business by Lafarge
Valuation & Purchase Price Allocation
Valuation of Gail Assets across
India having asset base of
more than Rs. 57000 Crores
for Insurance Purpose
Valuation Advisors
HINDUSTAN ZINC LIMITED
Financial Advisor to the Govt of
India, Ministry of Finance
(Department of Disinvestment)
for the proposed USD 4 Billion
residual stake sale in Hindustan
Zinc Ltd.
Valuation Advisors
Valuation of Tangible Assets,
Intangible Assets and Investments
of Voltas ltd. for Financial Reporting
under IFRS 1
Valuation Advisors
Financial Advisory Services for
Valuation of Equity shares of
Alliance Tire Group B. V.
Netherlands, Israel Business and
US Business for Management
Review and Tax purposes
Valuation Advisors
Valuation of Power Plants,
Transmission Assets & Distribution
Assets of Torrent Power AEC
Ltd. and Torrent Power SEC Ltd.
Valuation Advisors
Financial Advisor to BP for
Valuation of Oil & Gas Reserve
& Resources of Reliance
Industries in the KG basin
(including the well known
KGD6 block)
Valuation Advisors
Independent Engineer Services
for GIFT City Project at Gandhinagar,
Gujarat on behalf of a Consortium of
Banks & Financial Institutions
Technical Assurance Services
Acted as Exclusive Advisors for Joint
Venture / Merger of City Gas
Distribution Business of Gail, Gail Gas
and VMSS at Vadodara City
GAIL(India)Limited
Exclusive Transaction Advisors
Fairness Opinion on Acquisition
of Decision Resources Group, USA
for Acquisition Financing Purposes
Fairness Opinion
Acquisition of Orchid Chemicals
& Pharmaceuticals Ltd. by
Hospira, USA
Valuation & Purchase Price Allocation
Valuation of Coal Blocks / Mines
for the Schedule II and
Schedule III Coal Blocks which
have been Auctioned by
Nominated Authority of
Government of India
Valuation Advisors
Disinvestment of Stake in Bharti
Hexacom Ltd. by TCIL
Valuation & Transaction Advisors
Valuation of Mines & Mineral
Reserves and Tangible Fixed
Assets & Intangible Assets of
Cement Business of Dalmia
Cement (Bharat) Ltd. for
Restructuring Purposes
Valuation Advisors
Valuation of Intangible associated
with Tommy Hilfiger Brand
Valuation Advisors
Financial Advisory Services for
Fair Valuation of Equity Shares
of Glenmark Pharmaceuticals Ltd.
& Glenmark Generics Ltd. to
determine Stock Swap Ratio for
Merger/Amalgamation purposes.
Valuation Advisors
Technical Due Diligence of Assets
of VE Commercial Vehicles
Technical Assurance Services
Valuation of Land Concession at
Hyderabad Airport and Delhi
Airport for the purpose of
Financial Reporting under
IFRIC 12 for GMR Group
Valuation Advisors
Valuation of Telecom Network
and Tower Assets of Hutchison
Essar (now Vodafone) for
Financial Reporting purposes
Valuation Advisors
Fairness Opinion for Acquisition of
Grain Silos and Port Infrastructure
at Hamriyah Port, Sharjah by
Allanasons
Fairness Opinion
Valuation of Matrix Laboratories
Limited and its various Global
Business Units for restructuring
by Mylan
Valuation & Fairness Opinion
Valuation of Fixed Assets including
its plants at Hisar & Jaipur and
other Assets of Jindal Stainless Ltd.
Valuation Advisors
Valuation of Business, Tangible
and Intangible Assets of Reliance
Globalcom Limited for the purpose
of Purchase Price Allocation for
Singapore Listing of Global
Telecommunication Infrastructure
Trust (GTIL)
Valuation Advisors
Valuation of Well Servicing
Rig – Marmul & NIMR, Oman of
Shaleem Petroleum Co SAOC
Valuation Advisors
Valuation of Plant & Machinery
of Oman Chemicals and
Pharmaceuticals LLC, Oman for
Internal Management Review
and Restructuring
Valuation Advisors
Techno Economic Assessment
and Valuation of Khopoli Unit of
Shapoorji Pallonji Construction
Management Group for the
proposed Joint Venture
Technical Assurance Services
Technical Due Diligence of Maher
Capacitor Pvt. Ltd. for the
proposed acquisition by
Schneider Electric
Technical Assurance Services
Acquisition of New Drug Discovery
Unit of Ranbaxy by Daiichi-Sankyo
Valuation Advisors
Financial Advisory Services
fo r p rov i d i n g Fa i r n e s s
Opinion / Valuation of Equity
of Stemcor India Business
for a proposed Transaction
Valuation Advisors
Valuation of Telkom Kenya for
the proposed Acquisition by a
Major Indian Telecom Co.
Valuation Advisors
Valuation of Equity Shares of
Karnalyte Resources Inc., Canada
for proposed Investment by
Gujarat State Fertilizers &
Chemicals Ltd.
Fairness Opinion
Valuation of Sezal Glass, Jhagadia,
Gujarat for its acquisition by Saint
Gobain. Valuation included Fixed
Assets, Intangible Assets, for
IFRS, Indian GAAP & Tax Purposes
Valuation & Transaction Advisors
Brand Valuation of BILT for
Securitization and Fund Raising
purposes from International
Banks
Valuation Advisors
Technical Due Diligence for
Construction Products
International Co. (CPC), UAE for
its proposed Acquisition
Technical Assurance Services
Acted as Co-Advisors for Valuation
of Equity Stake of The Investment
Dar, Kuwait in various Portfolio
Companies for Restructuring
purposes
Valuation Advisors
Valuation of Equity Shares of
Diligenta, UK for acquisition by
Tata Consultancy Service
Fairness Opinion