About Us

FinServe is a team of professionals who work together to design and implement comprehensive solutions for a sustainable credit rating.  Our solutions are a reflection of our emphasis on the evaluation and presentation of the operational, financial and competitive standing of our clients.


Our experience is manifested in a successful relationship with clients who have entrusted us with the rating services for over INR 15,000 crore of aggregate debt portfolio

Our Services


Our clients can expect in-depth analysis, detailed discussions, logical explanations/ reasoning, effective presentations and timely execution in each engagement

Initial Rating Engagements

Our initial rating engagements entail high level of involvement in understanding the business, operations, financials and management vision. The objective of this engagement is to achieve a sustainable rating aligned with the financial, operational and peer standing of the Corporate.

Surveillance Engagements

Our surveillance engagements involve understanding of the critical rating factors evaluated in the last rating engagement. We also stress on developments since last review across operations and financials.

Board Advisory Engagements

Our Board Advisory Engagements involve regular review and discussions on the Group/ Corporate with the intent to develop extensive documentation across segments for the purpose of review with the rating agency. These engagements also facilitate periodical in depth- discussions on all rating related matters. This helps in regularly updating the management and rating agency of key rating developments.

Rating Troubleshoot Engagements

Rating Troubleshoot engagements are short engagements with focus on specific issues/ concerns/ doubts of the management on rating related issues of the corporate. The focus of these engagements is to discuss and resolve issues around credit rating. These engagements are normally followed by surveillance/ initial rating engagements.

Client Relationship


Our values are reflected in our association with our clients for close to 5 years. Our client additions stem from our existing client references and references from close business associates


Clients that have been associated with us since our Inception


Relationship: 4-5 Years (inception)


Clients with association of more than two rating surveillance engagements


Relationship: 2-4 Years


Clients who have completed one surveillance engagement with us


Relationship: 1-2 Years


Clients that have initiated a relationship with us and have completed one review with us


Relationship: Less than 1 Year

Case Highlights

Group in the Transition Phase of their business and operations


A large group with long track record was undergoing an operational transition. The transition had inherent operational, financial and management risks. The group had a mid-level investment grade rating based on its existing operations. We, at FinServe, understood, compiled and presented all possible scenarios and gave a future perspective to the rating agency for understanding the transition. We highlighted the business prospects and asserted on the success and track record of management in past. We supported the group in retaining its previous rating; also successfully enhanced the rating of few group companies backed by the support of others.

Case 1:

 Group in the Transition 

Case 2:

 Unrated Corporate

Un-rated corporate with a well-established track record of operations


A well-established corporate operating in a capital intensive and debt heavy industry was enjoying a competitive pricing from the lenders. The corporate wanted an external credit rating that aligned with its debt pricing. The business exhibited numerous risks around debt obligations and off take with customers. FinServe spent around 3 months to understand and evaluate the business. We monetized the business and operational prospects and highlighted the liquidity position to validate it’s alignment with the debt obligations. We were instrumental in translating the operational strengths into numbers and a presenting a well-defined off-take strategy.


The Corporate enjoys a mid-level investment grade rating (well aligned with its debt pricing)

Corporate with unique business model


A corporate with a unique business model had high risk in the nature of work and its working was heavily dependent on performance of its counterparty. The corporate had a lower level investment grade rating. It wanted support to understand and guide in the process of rating. FinServe spent 6 months on board to understand the business model and address all risks of the rating agency. We also presented a detailed case with the rating agency by addressing all loose ends and measures in-built in the operational workings that countered the risks.The Corporate initially moved to a mid-level investment grade rating. Our association with the Corporate has been for more than 3 years and our joint efforts have placed the corporate at a very high level investment grade rating.

Case 3:

Unique Business Model

Case 4: 

Multi-business group 

Re-positioning stand-alone identities of a Multi Business Group to enhance ratings


A group with multiple businesses faced a risk of downgrade in its credit rating on account of deterioration in its financial profile. We repositioned the group by making clusters of companies based on their risk profile and nature of business. We focused on inherent strengths of each business and accordingly got rating of individual companies of the group. The ratings factor in the individual strengths of each business and also take positive implications of group support and synergies.

Our Cofounders

Our advisory embraces the experience of our founders in the fields of Credit Rating, Due Diligence, Debt Advisory and Audit.

Ayush Jain

Ayush Jain

Bcom (H), Chartered Accountant

A Chartered Accountant and commerce graduate from Shri Ram College of Commerce, Ayush has an experience of 10 years in Credit Rating, Debt Advisory, Financial Due Diligence and Internal Audit. He has been associated with Ernst & Young, PricewaterhouseCoopers and Grant Thornton in the past.

Pallavi Jain

Pallavi Jain

Bcom (H), Chartered Accountant

A Chartered Accountant and commerce graduate from Delhi University, Pallavi has an experience of 10 years in Credit Rating and Statutory Audit. She has been associated with CARE Ratings, Deloitte and KPMG in the past.

Our Advisors

Our advisors guide and direct us towards achieving long term sustainable solutions backed by their vast experience in the fields of Audit, Taxation, Corporate Finance, Secretarial & Legal, Corporate Governance and Corporate Compliances.

NK Jain

N K Jain


A graduate in law from Delhi University, Naresh is a fellow member of the Institute of Company Secretaries of India and an honorary fellow member of The Institute of Certified Public Secretaries – Kenya. He has industry experience of over 38 years which includes more than 29 years of managerial experience in senior positions. He is an expert in corporate law matters.

Ashok Rustagi

Ashok Rustagi


A practicing Chartered Accountant, Ashok has an experience of more than 40 years in auditing, taxation, financing and management consultancy. He has advised reputed corporates in their accounting, taxation and financial matters. He is the proprietor of M/s Ashok Rustagi & Associates and supports FinServe in planning and execution of engagements.

Contact Us


Corporate office

B-23, Sector 26

Noida – 201301


+91-9871 235 386