Tuesday, October 21, 2008

Karti P. Chidambaram, B. Sai Chandravadhan



Be the change you want to be. I think we all feel passionately about how the society in India must be, but we now need to walk the talk.

October 21, 1.15 pm

Karti P. Chidambaram, Founder director, and B. Sai Chandravadhan, Vice President, Chess Management Services Private Limited, Chennai









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Founder-director of Chess Management Services Private Limited, Mr Karti P Chidambaram, is the son of Finance Minister P Chidambaram. A multi-faceted personality like his father, Karti is a politician based in Chennai and is also a member of the All India Congress Committee. He was selected by the American Council of Young Political Leaders (ACYPL) to observe the U.S. Presidential Elections, 2004.

Karti has been politically and socially active in his home state of Tamil Nadu. He is a Trustee of Palani Devasthanam, which administers Palani Dhandayuthapani Temple, one of the largest religious institutions of Tamil Nadu. He has played an active and crucial role as a campaigner in all state & national general elections since 1996. He is an eloquent speaker in English and Tamil.

He plays an active role in the development of sports and participates in select Management Committees of Cricket, Tennis & Athletics. He is the Chairman of Commonwealth Games Preparation Committee of the All India Tennis Association and and Vice President All India tennis Association AITA. He is one of the founders of the Chennai chapter of Young Entrepreneurs Organization, a worldwide association of young entrepreneurs. Karti has co-founded an online social forum, “Karuthu” (Opinion), which promotes freedom of speech.

He is a Fellow of the inaugural class of the Aspen Institute, Washington in their India Leadership Initiative Programme. He holds a Business Degree from the University of Texas, Austin and a Law degree from Cambridge University, England.
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Mr. B. Sai Chandravadhan is a law graduate from the Dr. Ambedkar Madras Law College and has 10 years of rich experience in Civil and constitutional litigation with specialization in Constitutional Laws. He was working in the law offices of Mrs. Nalini Chidambaram and Mr. P. Chidambaram prior to joining Chess Management Services.


He has been involved with Legal Compliance Management Services since the inception of Chess seven years ago and is currently the company Vice President. He has wide exposure in legal compliance management and has been instrumental in designing, implementing and marketing the service.


He has dealt with various laws including environmental, labour, contracts and constitutional disciplines and has interacted with a cross-section of industries including pharma, carbon, non-ferrous metal, media, health care, FMCG, energy and power, construction and infrastructure development and ITES industries. He has exposure in understanding the law and structuring the legal function in several jurisdictions including India, England, Malaysia, Indonesia, Zambia, Kazakhstan and Singapore to name a few.
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Chess Management Services Private Limited


Profile


Chess Management Services Private Limited is India’s first and most comprehensive legal audit and compliance services consultancy company. Since its inception in 2000, Chess has acquired vast knowledge and experience in auditing legal and statutory compliances applicable to large and multi-location businesses and building Legal Compliance Management (LCM) Systems.

Corporate Governance in general and SEBI’s Clause 49 in particular have brought legal compliance into sharp focus. The growing demands from regulatory agencies, institutions, investors and other stakeholders have placed a huge responsibility and fiduciary liability on Directors and top Management to fulfill all legal compliances. However, the complexities of statutory and regulatory compliances often become a stumbling block for companies to carry on their businesses.

Chess enables organisations to create streamlined, standardised processes to manage legal and regulatory compliances. Chess has built expertise in analysing legal compliance requirements by carrying out detailed, in-plant audits of all business operations and in designing and documenting Legal Compliance Management and Risk mitigation systems. Chess adopts a holistic approach in creating business processes to reliably and accurately address all legal compliance needs which enhance business performance.

Chess designs, builds and deploys powerful yet easy to use solutions for corporates in a variety of industries. These solutions enable organisations to prioritise on critical areas in legal compliances and focus on designing a management system that keeps a continuous check on risks arising out of non-compliances.

Core Values


Vision Statement: Chess is dedicated to enabling organizations institutionalise legal compliance management and mitigate risks through its comprehensive services.

Mission Statement: Chess constantly adds value to its clients by providing client-specific solutions through a team of high caliber professionals.


The Executive Committee comprises Mr. A. Palaniappan, Managing Director and Mr. Karti P. Chidambaram, Joint Managing Director, while the Operational Team includes Mr. B. Sai Chandravadhan, Vice President and Mr. K.R. Siva Kumar, GM Operations.


Currently, Chess has a 56-member strong team of legal professionals including lawyers, chartered accountants, company secretaries, cost accountants, management executives and industrial, environmental and software engineers.

The team provides legal and industry expertise to a range of organisations covering statutory, regulatory, transactional, contractual and corporate governance triggered compliance requirements and audits.


Legal Compliance Management Service


Chess offers customised solution to its client. At every step, the solutions are configured to map client’s business needs and enhance business management process.

Legal Compliance Management (LCM) transcends the conventional traditional approach of handling compliances and goes beyond a mere checklist approach for filing of forms, submission of returns and maintenance of registers as required by law. Legal Compliance Management addresses the need of developing systems and business processes within organisations to ensure compliance at all time. Chess adopts a proactive approach through systematic identification of risk, understanding risk and implementing measures that counter risks arising out of non-compliances.

Chess gives clients the driver that enables companies to reposition themselves continually to match business requirements and compliance with legal statutory and regulatory laws as well as Corporate Governance requirements.


Chess is providing its services to a broad range of industry sectors, including:


Steel Industries
Energy & Utilities
Health Care
Tobacco
Insurance
Chemicals
Fertilisers and Pesticides
Pharmaceuticals
Petroleum
Textile
Consumer Goods & Retail
Engineering
Silicone Industries
Manufacturing & Resources





Need for the Service


Legal Compliance Management is not about managing compliances, it is about using compliances as a yardstick to measure and manage business risks.

The pressure keeps growing for organisations to tackle a range of governance issues. The compliance audits provide an in-depth overview of compliance level, critical risks and makes specific recommendations on how to address them.

Improving effectiveness in terms of Key Responsibility Areas, Performance Indicators and develop processes to continuously monitor critical compliance areas has become a priority for organisations.


The Board and senior management would require clarity in terms of information to cultivate the most robust line of defence.


Legal Compliance Management provides a tool to set standards and accountability in the performance of compliance tasks. It replaces the reliance placed on individuals to reliance on systems.


Services Offered


Chess provides services to the India's leading organisations across a wide variety of industry verticals. Chess’s major areas of expertise include:


Legal Compliance Management

Risk analysis

Systems implementation

Consulting


Corporate Advisory Services

Legal Due Diligence
Contractual Risk Analysis Services
Advisory to foreign companies on legal framework for setting up business in India


Chess’ expertise spans across all areas of law including Environmental Regulations, Laws on Industrial Relations, Licenses, Taxation Issues, Contracts & Agreements and Companies Act and Corporate Governance. The emphasis of the delivery lies in managing projects strictly on a measurement matrix of high quality, timely delivery and cost controls mechanisms.


Chess continuously innovates upon its processes and capabilities, aimed at identifying and implementing streamlined internal processes systems to reduce cost, time and spatially efficient delivery mechanisms to ensure the satisfaction of our clients.


LCM Risk Analysis


This component of the service conducts an audit of legal compliances and risk analysis of impact of legal non-compliances. Chess reviews compliances and a system through a unique process developed in house and submits its observations on compliance performance including compliances and non-compliances.

Chess highlights the faults and the risk events through an audit of compliances, the resultant risk and provides solutions for correcting the faults.


System Analysis


Legal Compliance management is a continuous process; thus implementing a robust system requires more permanent and reliable solutions.


Chess studies in detail, the existing procedures and general practices of the organisation to meet its statutory obligations.


Chess works along with the client’s management and business managers to define and implement systems and management review mechanisms to the desired level to improve performance


Training


The key to Legal Compliance Management is to recognise client’s needs and provide a simple streamlined process that an organisation can understand and act upon. Thus the training modules address various aspects of compliance management systems.


These modules have been designed with the view to prepare and equip business managers to understand and operate compliance management systems without pressure on meeting core objectives.


eLCM™ Overview


eLCM™ is a flexible web-based platform that automates your compliance management process. It lets you deliver role-specific information across organisation in a closed loop system to reduce risk arising out of non-compliances. It is comprehensive online legal compliance scheduling and management software which helps you assess, monitor, track and report on compliance efforts with unprecedented ease and efficiency. It enables business managers to plan and monitor all compliance related activities.


eLCM™ is easy to use software that allows an organisation to meet enterprise scalable compliance regulations. The standalone software automates the tedious task of identifying, assessing, tracking and auditing compliance to many regulations. Management reports and dashboards give a clear view of the organisation's compliance efforts. It offers extensive scalability and adaptability to your organisation's specific needs.


eLCM™ offers a more proactive solution to planning compliances so that the risk of non-compliances is greatly controlled. eLCM™ takes advantage of the latest technology to fully secure the data with maximum confidentiality.


eLCM™ is an intuitive web-based software which requires minimum training and external support. And it's easy to install, administer and maintain.


Advantages of eLCM™


eLCM™ provides following utilities:


Generates reports for the Audit Committee, Board of Directors and Independent Directors to facilitate audit of compliance
Provides effective control tool for senior managers and board of directors
Generates awareness of status of compliance based on risk
Automates centralised control of legal compliance management
Strengthens areas of weakness in compliances based on business impact
Provides a central repository of documents related to legal compliances
Enables event based monitoring of compliance requirements

Certification - LexCertificare™


Chess has instituted certification of compliance management systems in an organisation under LexCertificare™. It has established 5 levels of compliance systems standards based on internationally recognised business practices.


These standards enable a consistent and an objective comparison of companies and help communicate the organisation’s functional capabilities.


LexCertificare™ serves as recognition of management’s fulfillment of its Corporate Governance responsibilities.


At Chess, we adopt a holistic approach in legal compliance management through establishing standards for systems that ensure compliances. Once appropriately implemented the system will:


Provides a complete understanding of its entire legal and corporate obligations and allow monitoring of compliance with those obligations
Identifies gaps in current compliance verification methods
Provides consistent compliance verification
Identifies compliance trends and issues whilst planning improvements
Facilitates continuous improvement





Corporate Advisory Services


Legal Due Diligence


As a part of Legal Due Diligence exercise Chess explores merger compatibility, or feasibility of proposed acquisition. It assesses all benefits and liabilities by assessing all legal aspects of the past, present and predictable future of the target company.


Chess highlights the target company’s strength and weakness, relevant risks, liabilities and commitments of the target company that reduce its value or use of those assets.


Contractual Risk Analysis Services


Contractual Risk Analysis is an innovative and critical service provided by Chess. Businesses regularly enter into written contracts based on certain assumptions. Since these contracts bind the organisation to specific obligations, Chess revaluates each party’s liability and determines if it is favorable to the organisation or not. This exercise may result in a contract being renegotiated or other actions being taken to limit the liability.


Advisory


Chess has considerable experience in cross border transactions in the areas of joint ventures, foreign collaborations, technology transfer, mergers and acquisitions, as well as in assisting its clients in establishing wholly owned subsidiaries/ branch offices/liaison offices in India. Agreements for this purpose shall include the following:


Technical Assistance
Franchise
Procurement of technical know-how
Trademarks
Supply of equipment (Plant & Machinery)




The intellectual property advisory comprises of both contentious as well as non-contentious matters in the areas of designs, trademark, copyright and patents.

Chess has issued advisories pertaining to various matters including tax planning, regulatory approvals from governmental authorities such as Foreign Investment Promotion Board and Reserve Bank of India, litigation, domestic and international arbitration, labour and employment and real estate.
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Source:
Sangita Thakur Varma
Consultant
Lexicon Public Relations & Corporate Consultants Limited.
(A Fleishman-Hillard International Communications Affiliate)
14, Community Centre, East of Kailash
New Delhi 110065, India
Ph: + 91 11 26234726, 26223099, 26236603, 26224879
Fax: + 91 11 26234725
Website:- www.lexicon.in
Email:- sangita@lexicon.in

Murali said...

A podcast of interest...

http://ram.viswanathan.in/2006/08/podcast-chat-with-karti-p-chidambaram_28.html