Case Studies

Due Diligence Investigation

J.S. Held Acquires Stapleton Group & Launches Strategic Advisory Practice

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The Situation

J.S. Held was retained by a US-based global investment firm to conduct a discreet due diligence investigation into the subjects with a focus on any current and past reputational issues, including backgrounds, business activities, reputations (corruption and bribery-related matters), regulatory and compliance issues, and any significant ‘red flag’ issues that could affect their evaluation of the subjects, including any litigation or involvement in government investigations.

How We Advised

J.S. Held undertook investigative research into the subjects using media and online sources for publicly and semi-publicly available information on them. Our team investigated Quest Global (limited to the US Department of Justice’s investigation) and Quest India, Ajit, discreetly assessing reputations and risks. We summarized the findings and prepared a report based on the research and discreet inquiries conducted.

Key Findings

  • Focused research in US identified that the US District Court in Connecticut consolidated all civil lawsuits initiated against the indicted individuals and their companies into a single class action lawsuit. Industry sources opined that a study of past judgments on class action lawsuits and criminal investigations by the DOJ under the Sherman Antitrust Act of 1890, where the accused were found guilty, suggests that only pecuniary fines are usually levied. No criminal penalties are levied against the companies involved. 
  • Our review of Quest India’s standalone financial statements for the Financial Year 2020-2021 found that the company has multiple outstanding income tax and service tax disputes with various authorities for a cumulative amount of INR 880.48 million (USD 10.87 million).
  • The KMPs of the target companies had a positive reputation in the market for their management style.
  • No other adverse issues or ‘red flags’ were identified for the subjects.

Key Takeaway
The success of this investigation is a testament that J.S. Held is a global consulting firm with footprints and capabilities across the globe

Key Contacts

Aditya Dhand
Managing Director,
Global Investigations
+91 88790 71568
[email protected]
 

Vrinda Thakore
Senior Associate,
Global Investigations
[email protected]

 

Rajat Khandelwal
Senior Associate,
Global Investigations
[email protected]

 

Nishtha Pandey
Associate,
Global Investigations
[email protected]

Related Practice Areas

> Investigative Due Diligence
Our multidisciplinary approach to due diligence assignments ensures that every investigation is approached in a way designed to get our clients the answers they need to make the most informed decisions. Corporations, investment banks, private equity firms, and hedge funds look to J.S. Held experts to develop critical reputational and operational information in connection with mergers and acquisitions, joint ventures, strategic alliances, franchise and license arrangements, and the retention of key suppliers and distributors.

> Business Intelligence
Our multidisciplinary team of experts deliver unbiased, actionable, and timely insights that help our clients make well-informed business decisions. Our team provides critical reputational and operational information to clients regarding mergers and acquisitions, joint ventures, strategic alliances, franchise and license arrangements, intellectual property management, market entry, high-risk client onboarding, counterparty research, vendor selection, supply chain integrity, and the retention of key suppliers and distributors.

Our Experts