“Growth is never by mere chance; it is the result of forces working together.” The statement suitably defines the core reason that stands firmly behind every successful business. And similar is the story of Hemant Arora & Co. LLP, a CA firm founded in 1983. Initially established by Hemant K. Arora as an extension to his father’s law firm in Roorkee, the firm has grown from being a sole proprietary firm to later evolve as a partnership firm in 1992 with Jeetan Nagpal joining the team and then as a limited liability partnership firm (LLP) in 2015. At present, the HAC is backed by six partners and an adept team of hardworking and thoughtful professionals working towards the firm’s continuous growth in the accounting, taxation and transfer pricing segment. Hemant Arora & Co. capably handles the accounting, auditing, and taxation needs of mid-sized and large domestic and multinational firms.
The firm offers advisory and representation services in the domestic and international taxation segment where in it represents clients starting from first level assessment officers to appellate levels ranging from CIT’s/DRP and going right upto the Supreme Court. HAC has developed expertise in transfer pricing including advisory, formulating acceptable TP methodology for the clients, research of data bases, industry specifics, client specifics, statutory TP audits, TP filings, and so on. Jeetan adds, “We have the unique distinction of being the first accounting firm outside of Big 4 and two other very large domestic accounting firms to have advised and successfully represented clients before the Advance Pricing Agreement Authority, a new body set up by the Government of India to arrive at an advance agreement on transfer pricing and methodology between the taxpayer and tax authority.”
For over three decades,the firm has maintained lasting partnership with
its clients living up to their expectations with changing times
The right people, the right effort and the right vision are the three essential ingredients for success and Hemant Arora & Co. has it all. However, in its initial years of operations, these remained the major obstacles for the company. “Both in terms of getting work from MNCs was difficult as in most cases the Big 4 accounting firms would have global mandate from the parent companies abroad, which is quite understandable and then there was a difficulty in getting decent talent to serve clients,” elaborates Jeetan. With time, the HAC team dealt with all the hurdles paving way for a fulfilling future.
For over three decades, the firm has maintained lasting partnership with its clients living up to their expectations with changing times. With its consistent efforts and a vast satisfied client base, the HAC team has grown exponentially both in terms of geographical expansion and an extensive client base. The firm now has presence in Roorkee, Dehradun, Delhi and Mumbai.
The firm carries the experience of having served Maharatana/Navratana companies, Fortune 500 companies and some of the biggest MNCs besides numerous domestic companies and high net worth individuals. HAC’s vision for future is to double its workforce within next two years. The firm aims to evolve and operate as a more broad-based firm with more specialist partners and teams of professionals providing the best in class services to clients from various offices. Over the years HAC has evolved from being a sole proprietorship firm with solo office to one with a national reputation.