Financial & Tax Due Diligence

Any organization as a part of its strategic growth shall undertake acquiring and selling; investing and divesting in the businesses. This can be one of the most crucial and vital financial propositions for any organization as judgment and/or assessment errors can cause havoc for a business. There is a high risk of making errors while handling the complexities of the buy/sale transactions due to the demand for speed in turnaround time and/or limited resources at your disposal.


RBSA Advisors provide Transaction Services to assist clients in their growth, investment, and divestment strategy right from strategic assessment at initial levels through to the closing of the transaction.

Our Services

Buy side due diligence and Closing due diligence

Buy side due diligence and Closing due diligence

Vendor assistance and Vendor due diligence

Vendor assistance and Vendor due diligence

Advice on sale and purchase agreements (SPA) and business transfer agreements (BTA)

Advice on sale and purchase agreements (SPA) and business transfer agreements (BTA)

Assistance in deal negotiations

Assistance in deal negotiations

Project business risk assessment which includes review of key technical aspects of the project business

Project business / risk assessment which includes a review of key technical aspects of the project / business

Setting up and managing the data room

Setting up and managing the data room

Our Expertise


Our expertise includes transaction support by performing financial and tax due diligence and technical due diligence for inbound and outbound transactions:

RBSA Advisors - Mergers Acquisitions min

Mergers & Acquisitions
(M&A) transactions

RBSA Advisors - Private Equity PE min

Private Equity (PE)

RBSA Advisors - Debt transactions min

Debt transactions

RBSA Advisors - Transactions under min

Transactions under Insolvency
& Bankruptcy Code,
2016 (IBC)

Our purpose is to assist clients

Assess potential values and risks associated with a transaction

Create value in terms of identifying key deal drivers, synergies, mitigate risks and challenge assumptions about future performance of the business

Improve negotiating position and identify risks in the transaction to enable to take an informed decision with confidence

We have deep sector / industry understanding and local market knowledge with focused Transaction Services team. We provide attention to your needs with high level of senior personnel involvement. Our integrated deal advisory service offerings provide best possible advice to our clients in the timely manner.     Our technical experts have experience of verifying technical and physical aspects of a project and can help safeguard client’s potential investment by identifying and mitigating risks.   RBSA places emphasis on adapting to, and respecting a client’s management culture, as we have found this to be a key element in ensuring that clients receive the service, which they want. This would be central to our provision of services to you.

Our approach to the due diligence

  • We perform independent and impartial due diligence reviews
  • We have differentiated approaches for buy side & closing due diligences and vendor assistance & vendor due diligences for M&A, strategic and private equity transactions
  • Our style is to have open, proactive and frequent interaction with our clients to discuss all material issues as they affect the transaction. Regular, open and informal communication helps to deal with issues before they become problems and ensure that there are no surprises
  • We bring in our expertise in M&A / PE transactions coupled with our understanding of the due diligence issues in providing inputs on the transaction agreements and assist the clients in their negotiation
  • We bring in integrated approach by involving relevant transaction tax, valuation, technical and business experts in the transaction

Our deliverables

RBSA Advisors - Our reports are concise

Our reports are concise,
and issues focused

RBSA Advisors - We highlight the financial

We highlight the financial, tax,
operational and strategic
aspects impacting the transaction

RBSA Advisors - We perform detailed financial and

We perform detailed financial
and operation analyses, yielding
in depth picture of the business operations, key business drivers, KPIs and factual commentaries on the state of the affairs of the business

We focus on the issues that affect investment risks and return, such as:

  • Quality of earnings / normalized earnings / sustainable EBIDTA level
  • Potential standalone costs of the business after the carve-out, in case of a carve-out transaction
  • Net assets adjustments
  • Cash flows
  • Related party transactions
  • Contingent liabilities and capital commitments impacting valuation
  • Direct and indirect taxes (tax) impacting valuation, pending tax assessments, litigations and any tax leakages
  • Potential impact on transaction agreements
  • Representations, indemnities and warranties
  • Inputs to assess assumptions in business model / projections
  • Go forward issues

We help our clients who want to “acquire / invest in” business achieve quantifiable benefits:

  • Early identification of potential deal issues and their way forward
  • Issues that provide direct adjustments, negotiating points and significant modification to proposed valuation
  • Material modifications to transaction agreements
  • Materially improved client’s initial deal structure and optimal transaction structure

We help our clients who want to “sell” their business achieve quantifiable benefits:

  • Identifying potential deal issues impacting valuation and highlighting them in the early stages
  • Proactively providing solutions to issues and acquainting the vendors / sellers with best practices
  • Materially improved initial deal structure and optimal transaction structure
  • Giving constructive feedback regarding accounting best practices
  • Factual confirmations with the management of Company to avoid unpleasant surprises
  • Opportunity to review and address concerns in the form of management comments
  • Ensure security of information and maintain confidentiality of information
  • Buyers get an independent and impartial due diligence review



More Services


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Chetan Khandhadia

Managing Director & Head (Transaction Services)


Chetan heads the Due Diligence & Transaction Services practice of RBSA Advisors. Prior to joining RBSA in December 2019, Chetan spent 20 years with PricewaterhouseCoopers (PwC) and 4 years with Grant Thornton (GT). Chetan was due diligence partner with PwC for 10 years and headed due diligence practice of GT. He was office managing partner of PwC Ahmedabad for 3 years. He worked with Capital Market magazine and Hinduja Finance Corporation for 3 years as Research Analyst before joining PwC.


Chetan comes with more than 27 years of experience and deep understanding of mergers and acquisitions (M&A), private equity (PE) and IBC transaction process. Chetan’s expertise includes transaction support by performing financial due diligences, buy side and vendor side, inbound and outbound transactions. He brings in business, commercial, valuation and tax aspects related to the transaction. He provides inputs on the transaction closing, business and share purchase agreements. He has worked on several marquee and big transactions and have worked on companies across various sectors.


Chetan is 1992 batch Chartered Accountant from the Institute of Chartered Accountants of India, a ranker in CA Intermediate exam, and is a commerce graduate from R. A. Podar College of Commerce and Economics.


Chetan studies BhagavadGeeta and at Brahma Kumaris World Spiritual University. He did his Masters (MA) in Yoga Shastra and Diploma in yoga education – Teacher’s course in yoga. As a part of community service and spread spiritual and yoga awareness, he conducts yoga sessions regularly and has led yoga camps for the international yoga day celebrations.


Mumbai Office:

1121, Building No. 11, 2nd Floor, Solitaire Corporate Park, Chakala, Andheri Kurla Road, Andheri (E), Mumbai – 400 093, INDIA

Sachin Shah

Managing Director (Transaction Services)

Sachin Shah

Sachin Shah is an Executive Director with the Due Diligence & Transaction Advisory practice of RBSA Advisors in Mumbai.


Sachin has about 20 years of Mergers and Acquisitions (M&A) and Financial Due Diligence experience. Prior to joining RBSA Advisors, Sachin worked with PwC as a Director and with Alvarez & Marsal as a Senior Director in the Transaction Services team.


Sachin has provided a broad range of M&A services including Business and Asset Valuations, Negotiation Support and Review of Transaction Agreements with a primary focus on Financial Due Diligence. He has been involved in more than 250 transactions across industry sectors including several large and complex transactions.


Sachin is a Chartered Accountant by profession and is a Commerce Graduate from Narsee Monjee College of Commerce and Economics, Mumbai.

Sachin Shah

Mumbai Office:

1121, Building No. 11, 2nd Floor, Solitaire Corporate Park, Chakala, Andheri Kurla Road, Andheri (E), Mumbai – 400 093, INDIA