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OUR TEAM

CA LOKESWAR NAGELLA B.com., MBA., FCA., FAFD - Designated Partner

Managing and Founding Partner of NAGELLA & Company LLP, CA LOKESWAR NAGELLA brings over 17 years of diverse experience in the field of Chartered Accountancy. A Fellow Member of the ICAI, he is also a Certified Forensic Auditor (FAFD) and a Certified Concurrent Auditor of Banks, with a strong focus on forensic audits, internal controls, and risk mitigation.

Professional Background

NAGELLA & COMPANY LLP is a distinguished Chartered Accountancy firm known for delivering high-quality, diversified professional services to businesses, trusts, and high-net-worth individuals—all under one roof. Our unwavering commitment to excellence is reflected in the trust and credibility we’ve built over the years.

Our Practice

We specialize in supporting clients across a wide spectrum—ranging from private enterprises and institutions to individuals with international interests. With a deep understanding of regulatory frameworks and financial intricacies, we provide end-to-end services tailored to the unique needs of every client.

Our operations are based in a partner-owned, fully equipped office located in the heart of the city Anandnagar, Khairatabad, Hyderabad, featuring a 20-seat capacity and state-of-the-art systems designed for speed, accuracy, and productivity.

We are also proud to be Empanelled Stock Auditors with the State Bank of India, a reflection of our trusted standing in the financial ecosystem.

Before founding NAGELLA & Company LLP, he was a Partner at M V NARAYANA REDDY & Co., Chartered Accountants for over 8 years, managing audits for more than 200 clients across industries such as:

Pharma
Construction
IT/Software
Banking and NBFCs
Healthcare & Hospitals
Educational Institutions
Trusts & NGOs
Government Entities
High Net Worth Individuals
Professional Associations

He began his career with J B REDDY & Co., where he completed his articleship and continued as Audit Manager for 5 years, gaining deep practical experience in audit, controls, and investigation.

Fraud Detection Highlights

1. GST Input Fraud & Vendor Collusion

Identified a large-scale GST evasion scheme where suppliers were:

Charging GST but not filing returns, or
Reporting supplies under incorrect tariff heads

The client, engaged in non-GST supplies, was unable to claim ITC, and staff failed to reconcile GSTR-2A/2B with purchases. A detailed investigation exposed collusion between internal staff and vendors, saving the client from significant exposure.

2. Internet Banking Misuse

Discovered unauthorized fund transfers by a finance manager using unrestricted net banking access in the pre-OTP era. The fraud came to light during bank reconciliation, enabling the client to initiate legal action and recover funds.

3. Dummy Suppliers with Valid GST Invoices

Identified multiple dummy suppliers issuing valid GST invoices for materials that were never actually delivered. Despite GST filings appearing compliant, no goods movement records (GRNs, e-way bills, inventory logs) were found. These fake purchases were used to inflate expenses and siphon funds. The case was classified as a deliberate fraud and led to blacklisting of multiple vendors.

4. Fixed Asset Capitalization Fraud

During an internal audit at a manufacturing company, it was identified that the capital work-in-progress account was inflated by booking duplicate and fictitious asset entries. These were done to justify inflated valuations for borrowing purposes. The issue was escalated to the Board, leading to internal restructuring and system tightening.

5. Employee Payroll Manipulation

At an educational institution, CA LOKESWAR NAGELLA detected ghost employees on the payroll. Cross-verification of HR data, PF filings, and attendance records revealed salaries being siphoned by administrative staff through fake employee codes.

6. Misuse of Reimbursements & Procurement Cards

In a healthcare organization, internal audit revealed misuse of procurement cards and medical reimbursements. Employees were submitting duplicate bills and routing purchases through known vendors for kickbacks. This resulted in a full revamp of the reimbursement and vendor vetting policies.

7. Loan Against Fictitious Receivables

In a private company, it was identified that receivables were being inflated by routing fictitious sales through shell customers to obtain working capital loans. A forensic audit confirmed that many of the “debtors” had no contact details or GST trail. The report helped the bank restrict further exposure.

Strengths & Skills

Forensic Analysis & Fraud Detection
GST & Indirect Tax Compliance
Internal Audit & Risk Management
Statutory and Bank Audits
Process Reviews & Internal Control Implementation
Expertise in Education, Pharma, Infra, and IT sectors

CA LOKESWAR NAGELLA is widely respected for his investigative mindset, practical approach, and ability to see beyond numbers. His cases have led to systemic improvements, fraud prevention policies, and board-level strategic interventions for clients across sectors.

CA VISWESWAR NAGELLA B.com., FCA. - Designated Partner

Mr VISWESWAR is the Joint Partner of NAGELLA & COMPANY LLP with 14+ years of experience in the profession of Chartered Accountancy and Corporate Sector. He is currently based in London, UK working with a Swiss based multi-national Investment Bank. He is acting as point of contact for the prospective overseas clients of Nagella & Company.

He did his Articleship in M V Narayana Reddy & Co. He worked with T R Chadha & Co, one of the leading Chartered Accountancy firms in India and involved in various Audit and Investigation works in IT, Shipping, Electronics, Mobile Industries.