ReshaMandi, India's first and largest digital ecosystem for natural fibre supply chain, starting from farm-to-fashion has appointed Ritesh Kumar Talreja as the Chief Financial Officer effective March 21, 2022. In his new role, Ritesh will lead the company's finance function where he will manage Corporate Development from a debt raising and M&A standpoint.
Ritesh has a rich experience of over 14-plus years in advising businesses on matters pertaining to fundraising, mergers & acquisition, structuring private equity investments and other corporate transactional matters in public and private space. Previously, he was leading the IndusLaw's Tax practice group as its Executive Director. Prior to that, he spent 10 years at EY India, including advising clients in the areas of corporate governance, risk management and business performance improvement during this stint.
"We are thrilled to have Ritesh on board. His extensive experience in corporate law and financial control will enable us to chart a solid growth path. I am confident that his expertise will help our company grow by huge leaps. He complements our strong performance-oriented culture, and we believe his impressive track record of execution and achieving results qualifies him to lead our finance operations," said Mayank Tiwari, Founder & CEO, ReshaMandi.
Commenting on his appointment, Ritesh said, "I am excited by the opportunity and responsibility that comes with being the CFO of a fast-growing company such as ReshaMandi. Unlike a conventional CFO, a new-age finance leader has multiple roles, especially in a start-up ecosystem which is extremely dynamic. I will be working closely with the Founders on significant areas like establishing an effective financial infrastructure, ensuring compliance, leading fundraising conversations, financial planning and analysis, and cash flow tracking. I look forward to strengthening the leadership at ReshaMandi as the company embarks on its steep growth curve."
Being a Chartered Accountant, Ritesh is also a part of the Advocacy Committee with the Indian Association of Alternate Investment Funds. Over the years, he has also advised companies on international taxation matters, direct tax issues related to structuring cross-border transactions and identifying tax planning opportunities with an overall objective to achieve a tax-efficient structure in India. He has robust experience in handling direct tax litigation matters across Indian appellate tribunals (including being an advisor to clients in devising tax litigation strategy) and tax policy representations before the Central Board of Direct Taxes (CBDT), the apex direct tax administration body of India.
ReshaMandi is India's first and largest digital ecosystem for natural fiber supply chain, starting from farm to retail. ReshaMandi, via its business model, ensures that there is a significant social impact at the grassroots level and helps in improving crop utilization and revenue for farmers, reelers, weavers and retailers. We procure scientifically graded cocoons from farmers, supply them to reelers, make high-quality yarn accessible to weavers and connect them with numerous retailers. The company has recently also ventured into D2C with its e-commerce platform ReshaWeaves which caters to end consumers, bringing them exquisite sarees from different parts of India.
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( With inputs from ANI )
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