Case Studies
J.S. Held Acquires Shechter & Everett to Expand Forensic Accounting Capabilities for Family Law Disputes in Florida
Read MoreJ.S. Held India was engaged by a global institutional investor to conduct a comprehensive due diligence investigation into a potential transaction with a leading waste management company in India. The promoter of the target company was identified as a politically exposed person (PEP), raising concerns about potential regulatory leniency and preferential treatment in contract awards.
The investor also sought a deeper understanding of the industrial and biomedical waste management landscape in India, with particular focus on regulatory fragmentation, bribery and corruption risks, ESG compliance, and controversies related to environmental violations and governance practices.
J.S. Held conducted discreet inquiries with over 20 well-placed sources across regulatory, industry, and political circles to gather nuanced insights. The team performed an in-depth sectoral analysis to contextualize the target company’s operations, evaluating infrastructure challenges, regulatory dynamics, and the role of political influence in project execution and compliance.
Litigation and adverse issue checks revealed historical allegations of procurement fraud, tax evasion, and environmental violations. However, post-2022, the company demonstrated a marked improvement in its compliance posture, with no new adverse findings in open media or source commentary.
Financially, the company underwent restructuring under private equity ownership, separating municipal and industrial waste operations and refocusing on high-margin segments. It maintains a professional and compliant relationship with regulators, supported by ESG audits, SAP systems, and a compliance-first culture.
Despite these improvements, the promoter’s continued informal control over strategic and financial decisions was flagged as a key risk. Their potential exit could trigger significant disruptions, including contract losses and executive attrition. These findings were delivered to the client in a concise, actionable report.
Nishant Singh
Associate
Global Investigations Practice
[email protected]
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