Keval Sheth

Forensic Accounting & Commercial Damages Expert


Quantum & Forensic Accounting


  • Chartered Accountant ICAI
  • Member CIARB
  • Certified Fraud Examiner
  • IBBI Trained Valuer
  • Bachelor of Commerce

Specialisms / Skills

  • Forensic Accounting
  • Commercial Damages
  • Dispute Advisory Services
  • Damage Quantification
  • Ethics & Compliance
  • Risk & Corporate Governance
  • Forensic Investigation
  • Valuation of Securities & Financial Assets

Keval is a Forensic Accounting and Commercial Damages Expert. He has serviced clients based in India, US, UK, Canada, Russia, Australia, Singapore, Africa and the Middle East. His post qualification experience in risk, forensics and dispute advisory means that he regularly advises clients on various requirements of corporate governance, investigations, regulatory issues and  disputes and conducts damage quantification for business disruptions, loss of profits, operational losses, and delay demurrage losses.

He undertakes expert advisory and expert witness works producing expert reports on commercial disputes and testifies as an expert witness in dispute cases.
Keval is  a Chartered Accountant and a Certified Fraud Examiner by qualification and  trained valuer of Securities Financial Assets from IBBI.

As an Arbitrator, he is empaneled with CORD, Presolv 360 and SAMA and focuses on Contractual, Shareholder, Anti trust, Banking and Maritime cases.

Dispute Advisory Valuation, Damage Quantification, Business Interruption Claims

Keval supports international and domestic dispute cases for valuation, damage quantification, expert report and testimony, investigations and managed document review

Currently acting as a commercial expert in a large Contractual Dispute under AAA Rules, he has shared Expert Report and a Rebuttal Report He is also appointed as an Expert to testify

He led a large Arbitration case filed in LCIA AAA both, on a project involving financial misrepresentation by an Indian Real Estate Co to USA UK investors helped give an
expert opinion clarifying law misrepresentation by Co fraud amounting to 300 mn

He is currently supporting on a Dispute case involving misappropriation of profits assets by erstwhile management fact finding, quantifying losses and expert witness testimony

He is also leading a large dispute of a US based client and its Indian owned subsidiary of alleged business mismanagement and fraud He has also written a report on quantified
business losses to the tune of 73 mln

Recently helped an Indian investor (non contentious matter) as regards investment exit from Singapore restaurant business giving indicative valuation range 116 mn 148 mn

Led disputes in multiple cases of business interruption due to catastrophe losses to ascertain and quantify business losses to help the client claim for loss of profits

Forensic Investigations

Keval  supports general counsels of the corporates and lawyers on banking frauds, white collar crimes, employee frauds, bid rigging, bribery and corruption cases, data theft cases, etc.

He has led two of India’s largest ever banking fraud investigations frauds amounting to 1.7 bn and 2.2 bn, where he also supported Central Bureau of Investigations ( Serious
Fraud Investigation Office ( in investigation and his team for testifying as expert witness in US court of law to stop the bankruptcy proceedings of related entities

He has led shell companies’ investigations on behalf of two of India’s largest Stock Exchanges

He has helped a French multinational to review SAPIN II compliance and subsequently unearthed multiple level employee frauds in the Indian business

Currently conducting a large investigation involving forging of Co’s financial statements

He has conducted various ABAC related investigations, webinars and trainings

Risk Corporate Governance

Keval has led multiple assignments in Corporate Governance Risk, IA Effectiveness study, Finance transformation, SOX, IFC, SOP, Data Analytics, etc He has over 7 years of
experience in serving clients in the FMCG, Retail Consumer Products sectors He has helped develop Client Maturity Models and Benchmarking Tool in the area of risk controls
and implemented the same for multiple clients

He has led multiple risk advisory and corporate governance projects for large MNCs

He has led a large global audit across 7 countries for a leading Indian beverage company

He has developed SOPs for various Consumer Products sector clients across geographies

He has led internal audit for India’s largest conglomerate in India, Kenya and Tanzania

He has advised multiple boards on corporate governance and risk framework