Practus’ assisted the family office in creating a framework of movement of funds within the 40 odd entities to ensure statutory compliances.

Client NameIndustryOwnershipManagementNo. of EmployeesROI On FeeSizeProject Duration
The Family OfficeFamily OfficePrivateProfessional~1004.8x> $100 million18 months

About The Company

 MFTL Group is a conglomerate with an aggregate turnover of ~$300 million. The family office consisted of more than 60 legal entities with total assets under management of > $100 million. The chairman of the family office is a second-generation businessman of high repute and social standing in the country. 

Practus’ Role

  • Mapped the existing cross-holding structures within the group as a reference point for all future transactions. Also advised and executed on rationalizing the family office entities.​
  • Monthly MIS reporting of 40 legal entities: Undertook clean-up of all the family office entities. Ensured hard close of books every month and owned up and delivered on an aggressive due date for monthly MIS presentations for ~40 legal entities. Standardized month close activities across all entities.​
  • Dividend/Other income reconciliation introduced a framework of tracking dividends and other receivables from group companies wherein the family members were shareholders or held positions that entailed professional payouts. ​
  • Cashflow management: Day-to-day cashflow management and regular reporting to the chairman. 12-month cashflow forecasted were included as part of the monthly MIS deck.​
  • Family partition settlements: Assisted in forecasting outflows, inflows and asset positions arising out of the settlement transactions.​

Impact Role

  • Clean-up of all the legal entities was achieved in 3 months.​
  • Delivered monthly MIS on the agreed date of 10th starting from the 3rd month of engagement.​
  • Created a framework of movement of funds within the 40 odd entities to ensure statutory compliances as per Indian income tax and company laws are not breached. ​
  • Water-tight forecasting and monitoring of cashflows created a path for the wealth management service providers to achieve a better ROI on treasury to extent of 1%.​