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Paritosh Chandra Basu

Dr. Paritosh Chandra Basu

Position - Senior Professor, SBM, NMIMS

Phone - 022  4235 5555

Email - paritosh.basu@nmims.edu

Academic and Professional Qualification

  • Ph.D., University of Calcutta, 1999.
    Major: Commerce (Transfer Pricing)
  • Diploma in Management Accounting (I), the Institute of Chartered Accountants of India, 1989.
  • Chartered Accountant from the Institute of Chartered Accountants of India, 1979
    (Secured 35th rank in all India intermediate examination)
  • Cost Accountant from the Institute of Cost & Works Accountants of India,1978
  • M.Com., University of Calcutta, 1975
  • B.Com. (Hons.), University of Calcutta, 1973

Major Achievements, Honors and Awards

  • IPO and FTSE 100 listing of Equity Shares for USD 1.92 Bln. of Essar Energy plc in London Stock Exchange. The second highest by any Indian Company in an overseas stock exchange.
  • Listing of equity shares of Reliance Communications Ltd. without IPO for more than 22 lakh shareholders post demerger from Reliance Industries Ltd.
  • Felicitation for ideating, inventing (Principal Inventor and team leader), innovating, architecting and designing a Software Solution for conversion of Financial Statements from one country's Generally Accepted Accounting Principles to that of other, particularly IFRS. This Solution has been accepted for further proceedings towards patent registration by the World Intellectual Property Organization, Switzerland under the international patent cooperation treaty by Indian and the USA Patent Registration Authorities (2012)
  • Establishment of Shared Services Centre (Financial Accounting and Reporting Services) for Essar Group. In this Centre about 450 employees work without handling any paper for accounting of all routine transactions conducted in more than one hundred entities of Essar Group spread over both in India and abroad. The integrated system, has received commendations from SAP, USA, Laserfiche, USA and Capgemini
  • 'Pinnacle Star' Award from Essar Group for two years' continued performance excellence in redefining organizational standards in leadership roles (2010)
  • Outstanding Performer’s Awards from Essar Group for four consecutive years.
  • Essar’s Gold Certified International Presenter (2011)
  • Accreditation from Laserfiche, USA and SAP, USA for innovations in software integrations and applications in establishing paperless transaction processing systems using SAP-DMS in Corporate Shared Service Centers (2012)
  • Member of Panel Discussion on ‘Employee Benefits’ in 15th Global Conference of Actuaries (2013)
  • Panel speaker in a Round Table with Ministerial Delegation from Australia to India on “Industry Training & Up-skilling” on behalf of Bombay Chamber of Commerce & Industry (1999)
  • Ph. D. Thesis, “A study of Transfer Pricing System practised in selected Multi-divisional Organizations in India” kept in the Central Library of The University of Calcutta, for reference.
  • Founder’s Memorial Merit Scholarship by Goenka College of Commerce, Kolkata during three years’ period of graduation (1970-1973)
  • Participated in many programmes in national television channels, viz., CNBC TV18, NDTV Profit,  Bloomberg, etc., as a Panellist, subject matter specialist on topics related to IFRS, Regulatory Environment, Corporate Governance, Indian Tax Accounting Standards, Transfer Pricing, Audit, Governance & Management, etc.
  • Personal Website – www.innoventionians.com

Memberships

Professional

  • Fellow-The Institute of Chartered Accountants of India (membership since 1979)
  • Fellow-The Institute of Cost & Works Accountants of India (membership since 1978)
  • Trustee of the Board of Trustees of VSO India Trust, the Indian NGO Unit of Voluntary Services Overseas International with headquarter in London.
  • Member of the Board of Directors, as nominated by the National Skill Development Corporation, Ministry of Finance, Government of India for Future Sharp Skills Ltd. (A Public-Private Partnership Venture between NSDC and Future Group) (July 2010-present)
  • Member – Gerson Lehman Council (GLG) , USA from October 2015 till date and AlphaSights, Hong Kong from January, 2016 for providing consulting and advisory services.
  • Associate-All India Management Association, New Delhi-Bombay Management Association, Bombay (1982 – present)
  • Life Member-Indian Accounting Association Research Foundation
  • Member-Bombay Chartered Accountants’ Society-The Chamber of Tax Consultants, Mumbai
  • Member, Academic Advisory Board, ‘International School of Entrepreneurship Education and Development’ iseed, Delhi, India (May 2014 – present)
  • Member, Academic Advisory Board, ‘Acharya School of Management’ Bangalore, India (2012 - present)
  • Member-Research Committee of the Central Council of the Institute of Chartered Accountants of India, (ICAI) (2010-11 and 2012-13)
  • Member - Shield Panel for Selection of Best Presented Annual Accounts of the Central Council of the Institute of Chartered Accountants of India, (ICAI) (2010-11 and 2012-13)
  • Member Board of Juries - Selection of the Best Chartered Accountants of the year, 2012 under seven categories for award to be conferred by the Institute of Chartered Accountants of India under the Chairmanship of the reputed industrialist Mr. Rahul Bajaj  
  • Member-HR Committee and Programme Director–Management Development Programme and Master Classes of the Bombay Chamber of Commerce & Industries (Dec 2013-present)
  • Ex-corporate Representative and In-charge for conducting Sr. Executive Development Programme for Banking & Finance Committee and Indirect Taxation Committee of Bombay Chamber of Commerce & Industries (1999-2000)
  • Faculty Member – Balmer Lawrie Staff Training Center, Delhi from 1988 to 2002.

Editorial Boards 

Member, Advisory Board, of ‘The Global Analyst’ a monthly Business Magazine, published from Hyderabad India (Jan 2013 - present)

Courses Taught

Alternate Investment Funds – Angel, Venture Capital and Private Equity Funds, Mergers, Acquisitions and Corporate Restructuring, Corporate Reporting, Financial Accounting and Analysis, Equity Research-Fundamental & Technical, Corporate Finance, Behavioral Finance, Strategic Financial Management, Management Planning & Control, Management Accounting and Control, Treasury and Operational Risk Management.

Teaching Experience - 28 Years

Teaching and Pedagogical Innovations 

  • Self-created teaching notes presented through ppt.
  • Management Films to facilitate observations, interpretations and application orientation.
  • Audio-visual lectures of celebrated academicians, including Nobel Laurates.
  • Case Studies from world’s top five case Libraries, including discussions of similar issues in Indian environment with contemporary examples.
  • Selected high end research papers of scholars and practitioners with international reputation and picking up learning points from there, through discussions and analyses.
  • Research Reports from Global consulting houses like McKInsey, EY, PwC, BCG, COSO, ISACA etc.
  • Self-created case lets to drive more points.

Industry Experience - 34 years

  • Commencing as a qualified Audit Executive with the then Price Waterhouse & Coopers from September 1979 till June 2013 as the Group Controller of Essar Group, an Indian MNC.
  • Independent non-executive Director of The Future Sharp Skills Ltd. (of Future Group promoted by Mr. Kishore Biyani), nominated by National Skill Development Corporation, Ministry of Finance, Government of India (July 2012 – present)
  • Group Controller - Essar Group, (Employer, Essar Investments Ltd., from August 12, 2008 - June 30, 2013).
  • Joint President and Chief Financial Officer, Reliance Communication Ltd. (RCOM), (June 26, 2005 - August 12, 2008).
  • Head - Management Audit, Infocomm Operations, Reliance Infocomm Ltd. (March 2005 - June 2005).
  • Head - Group Accounting - Infocomm Operation, Reliance Infocomm Ltd. (July 7, 2002 - February 28, 2005).
  • Dy. General Manager (Fin), Balmer Lawrie & Co. Ltd. (March 1988 - July 2002).

Consulting Experience (since June 2013)

  • Senior Advisor (External) Radisson Consulting LLP.
  • Consulting and advisory services to one of the large FMCG Companies in India regarding in areas like Internal Business Policies and Governance Framework, Risk Enabled Performance Management, Financial Controls for Corporate Reporting and Operations, Extensive IT Enablement of SOPs, automated model for Budgeting and Budgetary Control, etc.
  • Consulting and advisory services to Sannam S4 Consulting Pvt. Ltd. in connection with the professional education project of Association of Corporate Treasurers, London.
  • Consulting and advisory services to Association of Corporate Treasurers, London for promoting professional education on Corporate Treasury Functions and conducting a training session.
  • Designing and discharging the roles and responsibilities of a Director for the Master Class Event titled “The Changing Role of Internal Auditors & New Strategies.” on behalf of Global Landmark Media.
  • Designing and discharging the roles and responsibility of a Director for conducting the Master Classes titled “The Changing Role of Financial Controller & New Strategies.” on behalf of Global Landmark Media.
  • Ideating, designing and directing modular management training and development programme titled “Advanced Finance for Middle and Senior Level Business Managers on behalf of Bombay Chamber of Commerce & Industries” in the form of master class series.
  • Corporate Management Development & Training Programmes for large listed corporates and consulting service companies - Corporate Finance, Business Strategies and Performance Management, Governance, Risk and Compliance Management, IFRS and Ind AS, IFC for FR and OFC with IT enablement, etc.

Service to the University

Chairperson, MBA Law Program

Member, Ph.D. committee

Service to the School

  • Guided and helped students in their presentation of Research Papers and Case Studies in all India Competitions amongst premier B-Schools. Four such presentations have received first and second prizes including rewards in cash.
  • Chairman and Moderator for Panel Discussion sessions on:
    • ‘Will Liberalization 2.0 be the way forward’ at Bank-On-It, the NMIMS 6th Annual Banking Conference 2013.
    • ‘The Changing Dynamics of Indian Capital Markets’ at the NMIMS-BSE Investocraft-2014, Annual Event of MBA-Capital Market Group.
    • ‘India Vision 2020-Did we go wrong’ at the Annual Corporate Seminar of MBA students Paragana-2013.
    • ‘India holds all the promises for Young Entrepreneurs–Let the first foot be put forward’, at ECube Vantage Point 2014, Annual Event of Entrepreneurship Cell of SBM.

Ph.D. Topic

“A study of Transfer Pricing System practiced in selected Multi-divisional Organizations in India”

Research Interest

Transnational Transfer Pricing, Disruptive Business Modelling, Fundamental Research on Equity, Sustainability Management, Macro-economical Aspects of BFSI Sector.

Recent Publications 

Conference Proceedings

  • Dr. Paritosh Basu, Mr. Aman Jain and Mr. Vaibhav Singhal (2016), Offer for Sale -An Alternative Mechanism for Price Discovery of Equity Share: An Empirical Study in Indian Context presented at National Seminar on Capital Markets, organized by Institute of Cost Accountants of India and The National Institute of Securities Management, India, ICAI Auditorium, Kolkata, published in the Research Bulletin, Vol. 42, Issue 1 (PRJ) of ICAI.
  • Basu P. (2016), Strategic Cost Management for Value Creation in Startups Startup, presented at the World Startup Expo 2016, organized by Trescon Global and Cocoon Ventures, Bangalore International Exhibition Centre, Bangalore.
  • Basu P. (2016), Expectations of Corporate from Chartered Accountants presented at the Campus Placement Programme for Newly Qualified Chartered Accountants organized by The Institute of Cost Accountants of India, Gujrajti Sabha Gruha, Mumbai.
  • Basu Paritosh (2016). ‘Continuous Skilling and Critical Thinking’ - National Conference’, Institute of Internal Auditors India, New Delhi, India
  • Basu Paritosh (2016). ‘Digital Transformation in BFSI Sector through Technological Innovation’–Trescon Global BFSI Conclave, Goa, India
  • Basu Paritosh (2016). ‘Lending Risk Management – The Clarion Call’, Mysis India Lending Debate, India
  • Basu Paritosh (2016). ‘Audit in Motion with a 7200 Approach for Continuous Monitoring’ – Joint Audit Conclave, Institute of Internal Auditors, Kolkata, India.
  • Basu Paritosh (2016). “You and Your MSMEs - Operational and Financial Activisms” at the 57th National Convention of the Institute of Cost Accountants of India, Vigyan Bhavan, New Delhi. The President of ICAI has quoted one key message from the speech in his monthly message through the Journal ‘Management Accountant’.
  • Basu Paritosh (2016). “Internal Financial Control for Financial Reporting and Operations” at the Continued Education Programme of the Institute of Chartered Accountants of India.
  • Basu Paritosh (2015). “Business Information Security-Certain imperatives for a Pervasive Approach”, International Conference of the Institute of Chartered Accountants of India (Also published in the conference Journal)
  • Basu Paritosh (2015). “IT and Business Information in India 2020 - Challenges and Innovations” at the Late Shri S. R. Thakore Memorial Series Lecture at Computer Society of India.
  • Basu Paritosh (2015). “Changing Dimensions of Corporate Governance in India” at the Business Conference of Bombay Chamber of Commerce & Industry.
  • Basu Paritosh (2015). “Benchmarking Information Security Audit with a 3600 Approach” at the Joint Audit Conclave of the Institute of Internal Auditors, Kolkata.

Read More...

Research Papers

  • Dr. Paritosh Basu and Ms. Lasya Priya Desiraju (2017), Enhancing Effectiveness of OFC and IFC FR by Integration of COSO and CMMI, The Management Accountant, The Institute of Cost Accountants of India.
  • Basu, Paritosh C., Aman Jain, Vaibhav Singhal (2016). ‘Offer for Sale – An Alternative Mechanism for Price Discovery of Equity Share: An Empirical Study from Indian Context’. Research Bulletin, Volume 42, No. 1, April 2016, ISSN 2230 9241 of the Institute of Cost Accountants of India.
  • Basu, P. (2014). Diversification of Revenue with Fee Based Services – A Study of Indian Banks in Comparison to Global Peers (4th ed., vol. II). The Indian Banker, Indian Banks’ Association.
  • Basu Paritosh. (2004). Goal Congruence through Transfer Pricing System, The Management Accountant - The Institute of Cost Accountants of India
  • Basu Paritosh. (2002). Transfer Pricing System for Multidivisional Organizations – A Survey of Literature, Management & Accounting Research – The Institute of Chartered Accountants of India
  • Basu Paritosh. (2000). Moving Ahead with Innovation – Volume I & II, ePublicaiton by Business Management Library of IndiaInfoline.com

Monographs

  • Basu Paritosh. (2013). Business Briefing Series - 20 Issues on the Increasing Significance of Corporate Treasury. London: Association of Corporate Treasurers, London. http://www.scribd.com/doc/201634986/ACT-20-Issues-for-India-Newsletter2
  • Basu Paritosh. (2014). Indian Banking Renaissance – Interview in NMIMS BANKAGE Volume 7

Case Studies

  • Basu Paritosh. (2013). Essar Energy: Indian GAAP, U. S. GAAP or IFRS? (Case A), Ivey Publishing, Ontario, Canada, 9B13B014, jointly with Prof. David Sharp, Prof. S. Kuntluru and Mr. S. Chauhan
  • Basu Paritosh. (2013). Essar Energy: Indian GAAP, U. S. GAAP or IFRS? (Case B), Ivey Publishing, Ontario, Canada, 9B13B015, jointly with Prof. David Sharp, Prof. S. Kuntluru and Mr. S. Chauhan

Interviews

  • Basu Paritosh. (2014). In Anuradha Subramanian (Ed.), International Financing Review Roundtable on Indian Off-shore Financing (vol. February, 2014, pp. 12 with six comments of Dr. Paritosh Basu). London: Thomson Reuters. http://www.innoventionians.com/ifr-special-report/
  • Basu Paritosh. (2013). In Managing Editor - Janardhan Rao (Ed.), Is India Inc. Facing A Leadership Crisis - Interview (July, 2013 ed., vol. July, 2013, pp. 3). Hyderabad: The Global Analyst. V. L. Mehta Road
  • Basu Paritosh. (2013). In Managing Editor - Janardhan Rao (Ed.), Managing in Challenging Times (Jan, 2013 ed,). Hyderabad: The Global Analyst. V. L. Mehta Road
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