Chartered Accountants · FRN 302186E

Sixty-three years of ledger discipline,
now built for builders, boards & balance sheets.

M Choudhury & Co. has audited public sector banks and PSUs since 1962. Today, the same rigor backs founders, developers, and growing businesses across Odisha and West Bengal — from statutory compliance to RERA advisory and CFO-level financial strategy.

63Years in practice
04Partners
02Offices — Bhubaneswar & Kolkata
20+PSU & listed entities audited
Firm Registration
MC
  • FRN302186E
  • Established05 June 1962
  • ConstitutionPartnership, since 1974
  • Head OfficeKolkata
  • Branch OfficeBhubaneswar
  • Peer ReviewValid, since 2018

This website is intended solely to provide factual information about our firm and is not a solicitation of professional engagement, in accordance with the ICAI Code of Ethics.

Why Choose Us

What sixty-three years
actually buys you.

Not promises — a working track record across audit, advisory, and the kind of compliance that survives scrutiny.

01

Three generations of practice

Founded in 1962, continuously operating as a partnership since 1974 — not a firm rebuilt from scratch.

02

Direct partner involvement

Every engagement is reviewed by a partner. No work is fully delegated down an unsupervised chain.

03

PSU & banking-grade rigor

Audit standards built auditing RBI, SBI, and Indian Oil carry over to every engagement, regardless of size.

04

Valid peer review, every year since 2018

Our audit quality is independently reviewed under ICAI's peer review mechanism — a verifiable, factual credential.

05

Real estate & RERA depth

Active advisory work across hotel, residential, and land-parcel projects — not a generic add-on service.

06

Two-city presence

Kolkata head office and Bhubaneswar branch give us reach across West Bengal and Odisha without losing personal contact.

07

Beyond compliance

CFO-as-a-service, MIS systems, and project finance — built for clients who need a financial partner, not just a return filer.

08

Straightforward communication

You deal with the partner handling your matter directly — not a rotating cast of executives or call-centre support.

What We Do

From statutory compliance to
boardroom-level financial strategy.

A full-spectrum practice covering audit & assurance, tax, company law, and high-value advisory — built for both traditional compliance clients and growth-stage builders.

Advisory

RERA Compliance & Advisory

End-to-end RERA registration strategy, phasing structures, and compliance for developers across Odisha.

Advisory

CFO-as-a-Service

Outsourced financial controllership for growing businesses that need CFO-level oversight without a full-time hire.

Advisory

Project Finance — DPR & CMA

Bankable detailed project reports and CMA data for term loans, working capital, and project funding.

Assurance

Statutory & Internal Audit

Statutory, internal, and concurrent audit for PSUs, banks, NBFCs, and private companies.

Tax

Tax & GST Advisory

Tax planning, statutory filings, assessments, GST audit, and advisory across direct and indirect tax.

Systems

MIS & Dashboard Development

Custom MIS systems and reporting dashboards that give management real-time visibility into the business.

View All Services
Track Record

Audit experience that spans
PSUs, banks, and listed entities.

Indian Oil Corporation
State Bank of India
Reserve Bank of India
(Eastern Zone)
Eastern Coalfields Ltd
National Insurance Co.
Haldia Petrochemicals
Bharat Coking Coal Ltd
UCO Bank
Bank of Baroda
Maithan Alloys Ltd
Canara Bank
Heavy Engineering Corp.
Industries We Serve

Sector experience across
ten distinct industries.

Banking & NBFC
Public Sector Undertakings
Real Estate & Construction
Manufacturing
Insurance
Healthcare
Trusts & Societies
Energy
Consumer Goods
Logistics
How We Work

A straightforward process,
start to finish.

01

Initial Conversation

Tell us what you need — a quick call or message to understand your situation and timeline.

02

Scope & Proposal

We outline exactly what's covered, the documentation required from you, and our fee structure upfront.

03

Engagement & Execution

The assigned partner leads the work directly, with clear timelines and regular progress updates.

04

Delivery & Ongoing Support

You receive the final deliverable, with continued support for any follow-up queries or compliance needs.

Builder & Developer Advisory

We've structured the finance behind
real construction projects.

See Full Case Studies
₹15 Cr Hotel & commercial project cost
Hospitality · Project Finance

36-room hotel, term loan structuring

Built the full CMA data and DPR for a hospitality project, structuring a DSCR-compliant term loan across multiple revenue streams.

1.34x–3.13xDSCR range
11 periodsBalance sheet modelled
₹272 Cr Residential & commercial inventory value
Real Estate · RERA & Finance

Twin-tower residential development

Built collection models, POC-based financial models, and investor pitch materials across multiple loan-size scenarios for a RERA-registered project.

173 unitsResidential + commercial
2 structures₹50 Cr & ₹100 Cr scenarios
3 parcels Land holdings under advisory
Real Estate · RERA Strategy

Sub-8-unit phasing & RERA structuring

Advised a developer on RERA exemption strategy through phased unit structuring, plus registered development agreement drafting.

5 modulesScope of work delivered
3 sitesAcross Odisha
Our People

Four partners. One standard of work.

Meet the Partners
MC

Mahitosh Choudhury

Founding Partner · FCA

Founding partner since the firm's inception in 1962. Deep expertise in bank audits, business strategy consultancy, and board-level advisory.

DC

Debashis Choudhury

Partner · FCA

Over two decades in audit and assurance, with extensive experience auditing PSUs, banks, and listed manufacturing companies.

AJ

Aakash Jhunjhunwala

Partner · ACA · Bhubaneswar

Leads the Bhubaneswar branch, specializing in statutory audit, RERA advisory, project finance, and CFO advisory for builders and growing businesses.

SJ

Shubham Jhunjhunwala

Partner · ACA

Focused on Ind AS implementation and direct tax compliance, supporting companies through first-time adoption and complex reporting.

Client Enquiry Process

From your first message
to a confirmed engagement.

01

Submit an Enquiry

Use the contact form, WhatsApp, or call either office directly with a short description of what you need.

02

We Respond Within 1 Business Day

A partner reviews your enquiry directly and reaches out — no intermediary call centre or sales team.

03

Scoping Call

A short call to understand your requirement in detail and confirm whether we're the right fit.

04

Fee Confirmation & Kickoff

Once terms are agreed, we begin work immediately — with clear timelines set from day one.

From Our Insights

Recent notes on tax,
audit, and compliance.

View All Insights

Does your project actually need RERA registration?

A walk-through of the unit-count and area thresholds that determine RERA applicability in Odisha.

What a bank actually checks in your DPR

DSCR, sensitivity analysis, and the line items that most often get a report sent back for revision.

When does a growing business actually need a CFO?

Signs that financial complexity has outgrown bookkeeping, and what outsourced CFO support looks like.

Frequently Asked Questions

Common questions,
answered directly.

It depends on unit count and area thresholds under the Odisha RERA rules. Some projects can be structured through legitimate phasing to manage applicability. We assess this as part of our initial RERA advisory consultation.

Typically 1–3 weeks depending on project complexity and how quickly we receive supporting documentation from you. We build the model to DSCR standards banks and NBFCs expect, reducing back-and-forth during underwriting.

Statutory audit is a mandatory, regulator-facing review of financial statements. Internal audit is an operational review we conduct to identify control gaps, process inefficiencies, and financial leakage — useful even when not legally required.

Yes. While our offices are in Kolkata and Bhubaneswar, much of our advisory work — RERA structuring, CFO services, MIS systems — is delivered remotely, with site visits arranged as needed.

Regular accounting and bookkeeping records transactions. CFO-as-a-service adds financial strategy on top — cash flow planning, lender relationships, board-level MIS, and decision support — without the cost of hiring a full-time CFO.

Eligibility depends on your industry, investment size, and business structure. We review your specific situation against current Odisha and central government schemes and tell you exactly what you qualify for before any application work begins.

Have a compliance deadline or a project that needs structuring?

Reach out to discuss your statutory, tax, or advisory requirement. We respond personally — no call centres, no templates.