Lakhani & Co Merges with Baker Tilly
Tax firm Lakhani to join Baker Tilly along with its 10 partners and 80 tax experts
Mumbai: In yet another merger, Baker Tilly DHC, the Indian arm of Baker Tilly International, has taken one of the country’s reputed tax firms, Lakhani & Co LLP, into its fold. With this merger, Baker Tilly DHC hopes to expand its presence in the lucrative taxation consultancy, where some niche Indian firms and the Big Four dominate. Following this merger, Lakhani & Co would join the Baker Tilly DHC along with its 10 partners and 80 tax experts. Dilip V Lakhani, Managing Partner with the 40-year-old Mumbai firm, would also join Baker Tilly DHC as a senior partner. “We have seen tremendous growth of our services in the past few years and with this integration, we will be able to service a larger set of clients in the Baker Tilly network,” said Lakhani. Recently, Baker Tilly DHC also mer- ged with four other firms in a bid to scale up its operations. Baker Tilly DHC, which currently has about 1,300 people on board, including around 100 partners in India, would add 500 people after the integration of the firms. “We have a strong taxation practice but with this merger, our taxation practice will be one of the strongest in the co- untry,” said Dilip B Desai, chairman, Baker Tilly DHC.
Industry trackers said that professional services firms are witnessing a healthy growth in taxation consultancy after the new regulations have come into play. While the Big Four — EY, PwC, Deloitte and KPMG — have the biggest footprint in terms of the number of people and revenue, some of the niche Indian firms too have made a mark. Dhruva, founded by a wellknown tax expert Dinesh Kanabar, has set up a solid taxation practice outside of the Big Four. Similarly, Mumbai-based BMR Advisors has managed to carve out a niche for itself. Going ahead, some of the niche taxation consultancies could also see consolidation as many firms continue to remain personality driven ones, said industry trackers.