Date:08/05/2006 URL: http://www.thehindubusinessline.com/2006/05/08/stories/2006050802720200.htm

Back SHCIL takes stake in GKM

L.N. Revathy

Coimbatore , May 7

Stock Holding Corporation of India (SHCIL) has taken a stake in the Coimbatore-based G K Management Services India Ltd, a business process outsourcing company.

GKM does back-office operations in the areas of finance, accounting and insurance claim processing. The company has a US-subsidiary, responsible for its front-end operations.

The Founder Director of GKM, Mr Karthikeyan, did not disclose SHCIL's stake details, but told Business Line that the six-year old company witnessed growth in tax preparation and financial accounting not just in the US but also in UK and Australia. `The scope for back-office support, especially in the areas of tax preparation, accounting and claim processing, is on the rise in the US and our presence in that country has helped us achieve significant growth,' Ms Viji Sudhakar, President GKM, said.

She disclosed that the company had a strategic relationship with the US-based RIA Thomson, a $7.8 billion company for tax preparation services of US based clients.

The company is planning to expand operations in the UK and Australia by opening branches. `The synergy of GKM and SHCIL services would help ramp up our operations and offer a bouquet of services,' Mr Karthikeyan said.