Forensic
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Assisting clients in achieving the highest levels of business integrity through the
prevention, detection, and investigation of fraud and misconduct.
The prevention, detection, and investigation of fraud and misconduct
How KPMG Forensic can help
KPMG Forensics over 3000-strong global network of experienced professionals use accounting, investigation, intelligence, technology, economics and deep industry skills
alongside consistent global methodologies to help reduce reputational risk and commercial loss, and to improve the value obtained from existing contracts.
The changing nature of business has created new opportunities, but also new risks and potential threats including:
the increasing sophistication of fraud, organized crime and terrorism more complex legislation and regulations, some with increasing extra-territorial reach
developing challenges around technology
complex cross-border disputes
pitfalls from expanding into emerging markets
dependencies on unfamiliar business partners more complex supply and distribution channels
theft and misuse of intellectual property.
Organizations that effectively monitor and swiftly respond to potentially damaging situations such as these are better placed to deal with them quickly and successfully, while
reducing adverse financial, reputational or operational impact.
We can also deploy technology tools to help clients deal effectively with large amounts of data and documentation, to manage and disclose important material or highlight fraud,
weaknesses and business opportunities from within corporate data.
KPMG Forensic aims to provide our firms' clients with the tools and services they need to keep on top of the major risks they face.
Our network of over 3000 forensic professionals work in 39 accredited practices within KPMG member firms around the world. The network brings a consistent global approach,
combined with a tailored local focus, to sensitive and complicated cross-border engagements.
KPMG Forensic is a trusted adviser to some of the world's leading enterprises. Our teams are located in the major developed markets as well as the key emerging economies in
Central and Eastern Europe, Russia, South America, Africa, The Middle East and Asia.
We can also deploy technology tools to help clients deal effectively with large amounts of data and documentation, to manage and disclose important material or highlight fraud,
weaknesses and business opportunities from within corporate data.
KPMG Forensic aims to provide our firms' clients with the tools and services they need to keep on top of the major risks they face.
Our network of over 3000 forensic professionals work in 39 accredited practices within KPMG member firms around the world. The network brings a consistent global approach,
combined with a tailored local focus, to sensitive and complicated cross-border engagements.
KPMG Forensic is a trusted adviser to some of the world's leading enterprises. Our teams are located in the major developed markets as well as the key emerging economies in
Central and Eastern Europe, Russia, South America, Africa, The Middle East and Asia.
KPMG Forensic offers robust, practical advice, helping our firms' clients deal with:
fraud, misconduct and corruption investigations
tracing funds, assets, companies and individuals
commercial disputes
regulatory compliance
managing risk on buying or selling a business
intellectual property and contract governance
preventing and detecting fraud or financial crime.
Vodafone was embroiled in a $2.5 billion tax dispute over its purchase of Hutchison Essar Telecom services in April 2007. The transaction involved purchase of
assets of an Indian Company, and therefore the transaction, or part thereof was liable to be taxed in India as per the allegations of tax department.
Vodafone Group entered India in 2007 through a subsidiary based in the Netherlands, which acquired Hutchison Telecommunications International Ltds (HTIL)
stake in Hutchison Essar Ltd (HEL)the joint venture that held and operated telecom licences in India. This agreement gave Vodafone control over 67% of HEL
and extinguished Hong Kong-based Hutchisons rights of control in India, a deal that cost the worlds largest telco $11.2 billion at the time.
The crux of the dispute had been whether or not the Indian Income Tax Department has jurisdiction over the transaction.
In January 2012, the Supreme Court passed the judgement in favour of Vodafone, saying that the Indian Income tax department had "no jurisdiction" to levy tax
on overseas transaction between companies incorporated outside India.
Government changed its Income Tax Act retrospectively and made sure that any company, in similar circumstances, is not able to avoid tax by operating out of tax-
havens like Cayman Islands or Lichtenstein. In May 2012, Indian authorities confirmed that they were going to charge Vodafone about
20000 crore (US $4.5 billion) in tax and fines.
On 12 January 1998 CGP Investments (Holdings) Ltd., (CGP) was incorporated in Cayman Islands by the Hutchison Group.
HTL Hong Kong was the sole shareholder of CGP and in September 2004, it came to be transferred to/acquired by HTI BVI.
On 11 February 2007, a Sale Purchase Agreement (SPA) was entered into between the Petitioner and HTIL under which HTIL agreed to procure and
transfer to the Petitioner the entire issued share capital of CGP, by HTI BVI free from all encumbrances together with all rights attaching or accruing,
and together with assignment of loan interests. This was followed by announcement by HTIL and Vodafone of 12 February 2007, the latter stating that
