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Most businesses control how a vendor enters the supply base but never design how one leaves. A practical look at vendor performance evaluation and de-listing.

Vendor empanelment decides quality, price and risk long before a purchase order is raised. What to verify, the conflict of interest test to run, and what to ask your CFO.

Freight, packing, detention and demurrage rarely get negotiated or audited. A freight cost audit shows where procurement spend leaks after the price is agreed.

Routine buying is controlled. Capex is not. A capex procurement audit shows where sanctioned cost quietly becomes final cost in Indian owner-managed businesses.

Approval limits are written for raising a purchase order and rarely for revising one. How purchase order amendments erode authority, and the exceptions to test for.

Input tax credit leakage is decided in procurement, not in accounts. The reports to pull, the vendors to test and the purchase order terms that protect the credit.

One vendor, four purchase orders, none large enough to need your signature. Split purchase orders are how approval limits quietly stop working - and they are detectable in a day.

Three quotations look like a control until the three vendors have already spoken to each other. How bid rigging shows up in an Indian company's tender records, and what a promoter should test for.

Vendor advances are unsecured lending to your suppliers. What an owner should test in the ageing, and the CARO, GST and Schedule III consequences of getting it wrong.

The 45-day MSMED clock, compound interest under Section 16 and the Section 43B(h) disallowance all turn on one thing your ERP probably gets wrong: whether the vendor master knows who is micro or small.

Manpower, security, AMC and transport spend arrives without a goods receipt note. Here is how a services procurement audit finds the leakage and the compliance risk sitting inside it.

The three-way match is the core preventive control in procurement. Where it breaks in practice, and the exception reports an owner should actually ask for.

A vendor master data audit is the fastest route to a real procurement finding: duplicate bank accounts, dormant codes, and missing Udyam and GSTIN fields that quietly cost tax deductions and input credit.

ESOPs before an IPO sit across company law, SEBI regulation, accounting and personal tax. What SEBI's 2025 amendments changed for founder grants, and the clean-up promoters should finish before the DRHP.

SME IPOs require a compulsory three-year market maker under SEBI's Regulation 261. What the obligation involves, its inventory limits, and what promoters and CFOs should plan for before listing.

SEBI's 2025 merchant banker amendment splits lead managers into two capital-based categories and bans outsourcing of core due diligence. What promoters and CFOs should check before signing a mandate.

A pre-IPO placement can de-risk an Indian IPO or quietly reprice it. The caps, the 24-hour reporting rule, lock-in, and who is allowed to subscribe.

Migration from BSE SME or NSE Emerge to the mainboard is now a second eligibility test, not a formality. What the 2025 rules demand of promoters and CFOs.

A CFO's guide to what changes under SEBI LODR the day a company lists: reporting timelines, SME exemptions and governance duties that differ from the mainboard.

Appointing independent directors before an IPO is a twelve-month exercise. Rule 4 thresholds, SME platform exemptions, mainboard composition and databank requirements explained.