Arise Times
As Indian businesses adapt to an increasingly complex regulatory environment, corporate advisory firms have become indispensable partners in ensuring smooth operations and long-term growth. Among them, Prashasthi Corporate Advisors, based in Bengaluru, has established itself as a prominent name in the field, offering over 11 years of expertise in corporate compliance, taxation, and advisory services.
Since its founding in 2014, the firm has steadily expanded its service portfolio, helping startups, small and medium enterprises (SMEs), and established corporations navigate the maze of compliance obligations. Over time, Prashasthi has evolved beyond being a compliance facilitator, emerging as a strategic growth advisor for businesses across diverse sectors.
Addressing the Rising Burden of Regulations
For many Indian enterprises, especially new-age startups and SMEs, compliance remains a significant challenge. With frequent amendments to tax rules, labor laws, and corporate governance frameworks, non-compliance often leads to hefty penalties and operational setbacks.
To address these hurdles, Prashasthi’s founders, Arun Bhandary and Babu P Jain, envisioned a firm that would act as both a compliance shield and a strategic advisor. “Our primary goal has been to simplify compliance, reduce risks, and free entrepreneurs to focus on building their businesses,” Mr. Bhandary noted.
This client-centric approach has resonated strongly in the marketplace. In 2024 alone, the company successfully handled more than 80 audits, highlighting both its technical expertise and the trust it commands.
A Comprehensive Suite of Services
Prashasthi offers a wide spectrum of solutions designed to cover every stage of a company’s compliance journey. Among its core services are:
● Business Registrations – Assisting entrepreneurs in forming entities such as Private Limited Companies, LLPs, and OPCs.
● Taxation and Advisory – Offering expert-led tax planning and regulatory guidance to strengthen financial credibility.
● Audit and Assurance – Providing independent assessments by professionals with over a decade of audit experience.
● Business Advisory – Equipping leaders with insights for better decision-making and sustainable growth.
● Statutory Compliances – Ensuring businesses remain fully aligned with filing and reporting requirements.
● Payroll and Reporting – Managing payroll structures efficiently while companies concentrate on core operations.
Unlike many service providers that rely on standardized templates, Prashasthi emphasizes tailored solutions. Each engagement begins with a thorough consultation to understand the client’s industry, structure, and compliance needs. This is followed by a customized execution plan and ongoing support to ensure consistency.
The firm’s reputation rests heavily on its team of seasoned professionals. Apart from its co-founders, the core team includes:
● Mithun Shettigar – Internal Audit Specialist
● Balakrishna K Shibaraya – Expert in ESI, PF, and labor-related compliances
● Vinay Pai – Specialist in statutory and internal audit practices
Together, they bring a depth of knowledge that enables clients not only to remain compliant but also to optimize costs and enhance profitability.
Client Relationships and Measurable Impact
Prashasthi’s client list spans technology firms, consulting companies, and niche businesses like aquatic system providers. Long-standing partnerships with organizations such as Jovas Tech Solutions and Living Aquatic Systemz reflect the trust it has built over time.
The company maintains that its proactive compliance management has helped clients double their profitability by avoiding unnecessary fines and hidden costs. Transparency, according to the firm, remains a defining element of its engagement model.
Knowledge Sharing for Entrepreneurs
Beyond direct services, Prashasthi positions itself as a knowledge hub for business leaders. Through regular updates and blog posts, the firm provides insights on issues like common mistakes during company registration in Bengaluru and the pros and cons of setting up an LLP in India. These resources serve as practical guides for entrepreneurs navigating the intricacies of corporate law.
Looking Ahead: Technology-Driven Compliance
With India continuing to witness rapid business expansion, compliance demands are expected to grow in complexity. Prashasthi is preparing for this future by investing in digital compliance tracking tools that will offer clients automated reminders, streamlined reporting, and data-backed advisory solutions.
The firm also intends to extend its presence beyond Bengaluru and Mangaluru to other urban centers, particularly in industries like fintech, healthcare, and manufacturing, where compliance challenges are often more layered.
A defining feature of Prashasthi has been its unwavering commitment to transparency and precision. “Our association with a client does not end once the paperwork is complete. We remain engaged throughout their journey to ensure continuous clarity and compliance confidence,” said co-founder Babu P Jain.
This philosophy has distinguished the firm in an industry where many advisors limit themselves to transactional filings. Prashasthi, instead, prioritizes long-term partnerships rooted in reliability and value addition.
Shaping the Future of Business Advisory
With India’s entrepreneurial momentum showing no signs of slowing, firms like Prashasthi Corporate Advisors are expected to remain at the forefront of enabling growth. By positioning compliance not as a burden but as a strategic advantage, the company is redefining how businesses perceive regulatory frameworks.
As it enters its second decade, Prashasthi is poised to continue empowering Indian businesseswhether startups or established enterprises by combining compliance precision with advisory excellence.
