The expert witness function is where financial analysis enters the courtroom. Indian courts — the High Courts, the NCLT, and the Supreme Court — increasingly rely on expert evidence in complex commercial disputes, insolvency proceedings, and fraud cases. Arbitral tribunals — domestic and international — routinely receive expert reports on quantum, on accounting treatment, and on the financial consequences of a breach of contract. The expert report, and the expert's ability to defend it under cross-examination, can determine the outcome of a case that has already been decided on liability.
GP's forensic accountants prepare expert reports that are designed to withstand cross-examination — not just to advance a client's position. The distinction matters. An expert report that overstates a conclusion will be exposed under cross-examination and will damage the client's case more than no expert evidence at all. GP prepares reports that are defensible, that acknowledge the limits of the analysis, and that present the financial evidence in a way that the tribunal can rely on. The same forensic accountants who prepare the report appear as expert witnesses — there is no handoff between the analyst and the witness.
Forensic analysis of financial statements — balance sheets, profit and loss accounts, cash flow statements, and schedules — in the context of a live dispute. GP's forensic accountants examine financial statements to identify revenue manipulation, profit diversion to related parties, suppression of liabilities, inflation of assets, and the concealment of transactions through off-balance-sheet arrangements. The analysis is prepared for use in litigation, arbitration, or regulatory proceedings — not as an audit opinion but as forensic evidence that can be placed before a court or tribunal.
Quantification of financial losses in commercial disputes, fraud matters, and breach of contract claims — for use in litigation, arbitration, or settlement negotiations. GP prepares loss quantification analyses covering lost profits, diminution in value, wasted expenditure, and the financial consequences of a counterparty's breach or fraud. The analysis is prepared using the methodology appropriate to the forum — ITAT disputes require different loss quantification approaches from international arbitration under ICC or SIAC Rules, and GP adapts accordingly.
Investigation of suspected accounting irregularities — whether identified through an internal audit, a whistleblower complaint, a regulatory inquiry, or a due diligence finding. GP's forensic accountants examine the accounting records, identify the transactions or entries that are irregular, trace the flow of funds, and prepare a report that documents the irregularity and its financial consequences. The investigation report is prepared for use in disciplinary proceedings, regulatory submissions, criminal complaints, or civil recovery actions — depending on what the irregularity reveals.
Preparation of expert witness reports for use before the High Courts, NCLT, ITAT, and domestic and international arbitral tribunals. GP's expert reports comply with the procedural requirements of each forum — the form and content requirements for expert evidence before the Bombay High Court differ from those of an ICC arbitration under the IBA Rules on the Taking of Evidence. GP prepares reports that meet the specific forum's requirements, disclose the expert's methodology transparently, and state the expert's conclusions in terms that the decision-maker can rely on. The expert who prepares the report also appears at the hearing to be cross-examined.
Forensic analysis of related party transactions — to identify whether transactions between connected parties have been conducted at arm's length, whether value has been diverted from a company to its promoters or affiliates, and whether the disclosures made in the financial statements and to the stock exchange comply with the Companies Act 2013 and SEBI (LODR) Regulations 2015. Related party transaction analysis is used in minority shareholder disputes, NCLT oppression and mismanagement petitions, SEBI investigations, and tax disputes involving transfer pricing between connected entities.
Independent computation of net worth and asset valuation in matrimonial disputes, succession proceedings, and HUF partition matters — where one party disputes the other's declared financial position. GP's forensic accountants examine bank statements, investment records, property documents, business accounts, and shareholding records to construct an independent picture of the disputed party's financial position — identifying assets that have been concealed, undervalued, or transferred to connected parties to reduce the apparent estate. The net worth analysis is prepared as expert evidence for use in Family Court, the High Court, or in mediation.
A statutory audit checks whether accounts comply with accounting standards and give a true and fair view. A forensic analysis asks a different question — whether the accounts have been used to conceal, misrepresent, or manipulate. The forensic accountant approaches the same financial statements with a different lens, different questions, and different techniques — including transaction tracing, ratio analysis, and comparison with industry benchmarks.
Indian courts and arbitral tribunals require expert reports to disclose the expert's qualifications, the instructions received, the documents reviewed, the methodology applied, and the basis for each conclusion. A report that overstates certainty or fails to disclose the limits of the analysis will be challenged — and a successful challenge to the expert's methodology can destroy the evidentiary value of the entire report.
Insolvency proceedings under the IBC 2016 frequently require expert financial evidence — particularly in avoidance applications (preferential transactions under Section 43, undervalued transactions under Section 45, fraudulent transactions under Section 66), where the Resolution Professional or a creditor must demonstrate the financial impact of the impugned transaction on the corporate debtor's estate.
Most firms that offer expert witness services outsource the financial analysis to a CA firm and then brief an external expert to present the findings. GP does not. The forensic accountant who conducts the analysis prepares the expert report and appears in the witness box. This means the expert knows every number in the report, can explain every assumption, and cannot be caught out by cross-examination on methodology or on details that someone else prepared. The coherence between analysis and testimony is total.
GP's forensic accountants sit within the firm — not in a separate entity that is briefed and debriefed. This means the financial analysis is developed alongside the legal strategy from the first case review. The lawyers know what the numbers say before they frame the legal argument. The forensic accountants know what legal conclusions the financial evidence needs to support before they finalise the analysis. This integration produces stronger expert reports and more coherent litigation strategy than a model where financial analysis and legal advice are developed separately and then reconciled.
GP prepares expert reports that disclose the limits of the analysis, acknowledge alternative interpretations where they exist, and state conclusions in terms that the expert can defend under the most aggressive cross-examination. A report that overstates certainty will be exposed — and a successful attack on the expert's methodology destroys the entire report's evidential value. GP's approach produces reports that may be less aggressive on paper but that survive the tribunal process and are ultimately more persuasive precisely because they are honest about what the analysis does and does not show.
Acted as financial expert witness in a SIAC arbitration between parties to a technology joint venture, where the claimant alleged that the respondent's breach of the joint venture agreement had caused it to lose anticipated profits from a product that was never successfully launched. GP's forensic accountants prepared an expert report quantifying the lost profits at USD 34 million — using a DCF model calibrated to the specific product's market and the joint venture's own financial projections. The respondent retained a competing expert who challenged the assumptions underpinning the DCF model. GP's expert was cross-examined for two days on the model's assumptions and defended each one with reference to the underlying financial data and market evidence. The tribunal accepted GP's quantification in full and awarded the claimant USD 34 million plus interest.
Retained by a minority shareholder of a listed company who alleged that the company's promoters had diverted funds from the company to promoter-controlled entities through a series of related party transactions. GP's forensic accountants analysed five years of financial statements, identified 23 related party transactions that had not been disclosed in accordance with the Companies Act 2013 and SEBI (LODR) Regulations, and traced ₹180 crore in payments to promoter entities at below-market prices or without commercial justification. The analysis was prepared as an expert report and filed before the NCLT Mumbai in support of the minority shareholder's oppression and mismanagement petition under Section 241-242 of the Companies Act 2013. The NCLT ordered a special audit of the company's accounts based in part on GP's expert evidence.
Retained on behalf of a wife in contested divorce proceedings where the husband — a promoter of a privately held group — had declared a net worth of ₹8 crore in his affidavit of assets and income. GP's forensic accountants conducted an independent net worth analysis using publicly available information (MCA filings, property registrations, income tax returns) and financial documents obtained through disclosure applications — identifying shareholdings, property holdings, and transactions that the husband had not disclosed. The analysis identified ₹42 crore in assets that had been transferred to overseas entities and to family members in the period following the breakdown of the marriage. The net worth analysis was filed as expert evidence and was central to the Family Court's determination of permanent alimony.
The practice sits within GP's Forensic Accounting hub — which means the same team that investigates a fraud also quantifies the loss, prepares the expert report, and appears in court. For matters that require both forensic investigation and expert evidence — which most serious fraud and commercial disputes do — this integration means the evidentiary chain from investigation to courtroom is managed by one team without gaps.
For international arbitration, GP's experts are familiar with the IBA Rules on the Taking of Evidence, the specific expert evidence requirements of the ICC, SIAC, and LCIA Rules, and the expectations of international arbitral tribunals on expert methodology, disclosure, and cross-examination conduct.
The requirements for expert financial evidence differ significantly between the High Courts, the NCLT, and international arbitral tribunals. GP's guide to what each forum requires and how to prepare expert reports that will survive scrutiny.
Read Guide →The discounted cash flow method is the most widely used loss quantification tool in international arbitration — and the most frequently attacked. GP's analysis of the key assumptions that opposing experts challenge and how to defend them.
Read Guide →Whether you need a financial statement analysis for litigation, a loss quantification for arbitration, an accounting irregularity investigated, or a net worth analysis for matrimonial or succession proceedings — speak to us today.
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