IMPACT Lecture Series
Session 2 Lecture 2
Date : 9th July 2022
Speaker :- Mr. Pranav Khanvalkar, Partner,Khanvalkar Karwe & Associates
Time :- 10.40 am to 12.10 am
The second lecture of the session 2 of the Impact Lecture Series, was conducted by CA Pranav Khanvalkar who spoke extensively on the subject ‘Overview of applicable compliances & their management for start-up entities.’ He started the session by explaining a startup and its diverse definitions. He then went on to explain the various forms on entities available for startups in India like sole proprietorship, partnership, limited liability partnership and private company. He further illustrated the pros and cons of each type of entity and advised at what stage which entity should be selected. He also mentioned one entity can be converted into another if the situation calls for it. He also advised on what factors entrepreneurs should keep in mind while selecting the type of entity. Some of these factors were Nature of Business, Number of Promoters, and dispute redressal. He also listed down the various registrations which need to be completed after selecting a type of entity for startups. He then also stated the various compliances which are applicable under various laws. Some of the compliances include GST (Goods & Services Tax), customs and Shop act. He also explained how following the compliances would help a startup with cost saving. He also highlighted “effective fund management” and “financial discipline” as the key components of successful startups. Lastly, he also stated how outsourcing can help startups. They can outsource all the compliance-related work to a company which has been doing it for years.
At the end of the session, CA Pranav Khanvalkar answered the students’ and teachers’ questions while throwing light on his own professional journey and sharing his firsthand experiences.
Profile of Mr. Pranav Khanvalkar :-
Mr. Pranav Vinayak Khanvalkar is an alumni of Abhinava Vidyalaya English Medium School and and Brihan Maharashtra College of Commerce. During CA articleship he worked as part of the Statutory and Internal Audit teams of large Listed Companies. He also handled the BSE/NSE listing process of a Large Corporation in Pune. He qualified as a CA in 2011 passing all three examinations in the first attempt. He started his own practice in 2011 and founded the firm Khanvalkar Karwe & Associates in 2012 where he currently is a Partner. During his 10 years of practice, he has handled following work for various corporates like Statutory Audit, Audit ,Direct Tax Compliance, Corporate Law Reporting, Debt Syndication, M&A Advisory and Support. He has been working closely with startup entities from the early days of his practice and has consulted them on various issues such as selection of type of entity, obtaining registrations, compliance management, setup of various financial process (including documentation) and financial reporting. He briefly taught Accountancy to CS Executive students and has also been a faculty at various seminars. He is avid watercolor painter and scale modeler in his free time.