Broad Range of Business Advisory Services

Mr. Durgesh Shankar studied at the Modern School, New Delhi, St. Stephens College [BA (Hons.) Maths], Delhi, Faculty of Law (LLB), Delhi, University College of Wales Swansea, (M.Sc Economics–Development Policy & Planning) (UK) and the JF Kennedy School of Governance, Harvard (USA).  He resides permanently in New Delhi.

Durgesh is a former IRS officer (Income Tax – 1973 batch) who superannuated in 2011 as Member (Revenue), Central Board of Direct Taxes and Special Secretary to the Government of India. During his service with the GoI, he held senior posts across the Ministry of Railways (1988-90), Ministry of Science & Technology (1991-93), Ministry of Information & Broadcasting (93-94) and Ministry of Textile (where he was Managing Director, Central Cottage Industries Corporation (2000-04) while concurrently holding charge as Senior Director of the National Handicrafts & Handlooms Museum (Crafts Museum) (2002-03). 

Post retirement he is rendering legal consultancy & advice and representation on issues relating to domestic and international taxation, India market penetration, incorporations, strategic long-term planning, wealth planning, prevention of money laundering, Black Money Act etc. and is appearing before various High Courts, Income Tax Appellate Tribunals, etc. He has given lectures at various Institutes of repute viz. IIMs Bangalore & Indore, and also appears as expert in Finance & Tax matters on various TV channels. He has authored several articles and papers.

He is presently on the Board of Governing Directors, Sri Sharda Institute of Indian Management-Research, New Delhi.

His interests include the fine arts & crafts and Hindustani classical music. He is also the author of a coffee table book and continues to have a considerable interest in global economy and current political developments.

Mr. Navneet Singh had a distinguished career of over 40 years by working in leading organisations in banking and finance in India and abroad.  A Chartered Accountant by profession, he moved into banking early in his career. Subsequently, held Senior Leadership positions in reputable organisations including ANZ Grindlays Bank, ANZ Bank, Standard Chartered Bank and Bank of New York Mellon. Worked in multiple geographies including India, SE Asia and Australia. Since returning to Delhi he has held several board positions as Independent Director of large public companies including a listed company. His strengths include his knowledge and experience in Finance, Banking, Corporate Advisory, Regulatory Compliance, Operational Risk Management and Corporate Governance.

Did his initial schooling and college in Doon School Dehradun and St. Stephens College Delhi after which he qualified as a Chartered Accountant in UK before embarking on his career in banking.  

In his spare time he enjoys playing golf, reading and listening to music. He is a member of The Delhi Golf Club, and Delhi Gymkhana Club.

FCA, ICAI

Member at the International Ethics Standards Board for Accountants (IESBA), New York, USA since January, 2019. Re-appointed in January 2022.
He has more than 39 years of professional experience in domestic and international tax advisory and consulting.

He was elected in 2013 as a member, Central Council of ICAI from the Northern Region for 2013-16. Re-elected in 2016 as a member Central Council of ICAI from Northern Region for 2016-19.

He has served as a member of various committees of ICAI such as Expert Advisory Committee, Research Committee, Accounting Standard Board, Corporate Law & Corporate Governance Committee, Board of Studies, etc.

He has a vast knowledge & experience in handling complex tax issues including those relating to domestic/international tax, transfer pricing & taxation of cross-border transactions. Regulatory represents clients before various tax authorities including Appellate Forum & Competent Authority of India on complex tax issues.

He works very closely with Senior legal counsel for matters in Supreme Court & High Court in relation to case preparation/strategy formulation etc for tax matters.

He has been the member of FICCI’s Taxation Committee Since 2015.
He is the Chairman of the Delhi Chapter of Chamber of Tax Consultants since July 2021.
He is also the Chairman of Tax & Tariff Committee of the American Chamber of Commerce and member of Direct Tax Committee of ASSOCHAM, PHD Chamber of Commerce, FICCI, etc.

He is an Advisor to Income Tax Appellate Tribunal Bar Association, New Delhi
He is the member of the Direct Taxes Committee of the Indian Merchants Chamber (IMC), Mumbai for the year 2020-21 and 2021-22
He had been given the responsibility by International Tax Committee of ICAI to revise the publication “Basics of International Taxation”. The fourth edition was published/released by ICAI in October, 2020. Was also responsible for preparing the basic draft of this publication in 2006 and its revisions in 2012 & 2016.

He is a regular contributor to the tax journals and has been writing a column called “Tax Talk” in The Hindu Business Line for the last more than 10 years (approx.)

Honorary Counsel of Georgia since 2018

• From 2009 to Date: Director Essar Capital (Mauritius) Limited
• From 1994 to 2008: Multiconsult limited, Director and CEO subsidiary of De Chazal Du Mee & Co.
• From 1981 to 2014: De Chazal du Mee, Chartered Accountants (DCDM) (representatives of Arthur Andersen), Mauritius Partner as from 1988, and Senior Partner 1995.
• From 1978 to 1981: Mann Judd-Touche Ross, Chartered Accountants, London Multiconsult ( top 2 ) & DCDM ( number1 ) were top firms in their field in Mauritius.

Board member of Essar Capital Limited, Investment Manager to Essar Global Fund, a Fund with investments worldwide. Responsible for Governance and strategy of companies engaged in the Oil & Gas, Metal & Mining, Infrastructure Services sector based in Mauritius.

He also Serve as an Independent Non-Executive Director of companies including Investment funds and entities listed on the Mauritius Stock Exchange and act as Chairman of Audit & Risk Committees and Chairman of Corporate Governance Committees.

He was a Board member of Global Finance Mauritius, a company regrouping various stakeholders in the Financial Services Industry.

Currently an Independent Director of The Mauritius Commercial Bank Limited a leading Bank in Mauritius and the African Region, Chairs the Audit & Risk Committee of the Bank.

Professional with 40+ years’ experience in the field of auditing, taxation, consulting and structuring.

He has been involved in advising both local and international firms in various business sectors including investment funds seeking listing on the Mauritius Stock Exchange. Has carried out various audits of Companies and projects financed by World Bank/African Development Bank on the African continent namely Rwanda, Burundi, Madagascar, Togo & Mali for De Chazal Du Mee, a lead Regional Audit & Advisory firm.

He was the CEO, Director and Shareholder of a major Trust and Fiduciary company in Mauritius until its divestment to a Major conglomerate creating a significant shareholder value. Has participated and spoken in several International Tax and Offshore conferences.

He was appointed a member of the Consultative committee set up by the Government of Mauritius to advise on the reforms to the Non-banking financial services sector in 2000 which led to the setting up of the Financial Services Commission and the enactment of a new legal and regulatory framework in 2001.

Past President of Association of Trust and Management Companies -(ATMC) Founder member of the International Fiscal Association IFA, Mauritius Branch. Its President for 2004-2010.

He is a member of the Institute of Directors -IOD, UK and a Fellow of the Mauritius Institute of Directors-MIOD.

Active member of the Rotary Club of Port Louis and a Past President of the Club.