Alvarez & Marsal (A&M), a US-based advisory firm known for its turnaround and restructuring related practices, has launched the global forensic and dispute services practice in India to expand its operations, the company said in a release.
It has appointed Dhruv Phophalia as MD of the company to lead the new unit. Phophalia joins the firm from Deloitte where he most recently served as senior director (partner) and led the firm’s anti-bribery and corruption consulting service in India. Phophalia also spent over a decade in Deloitte’s US office and also played an instrumental role in establishing Deloitte’s forensic and dispute services practice in India.
He has more than one-and-half decades of experience and specialises in areas such as anti-bribery and corruption consulting, fraud investigations, dispute consulting and expert witness engagements, anti-fraud programes and controls, regulatory compliance and bankruptcy matters.
“Our forensic, dispute resolution and investigation services complement our core competencies of turnaround management, performance enhancement and transaction advisory. We are confident that Dhruv will be a valuable asset to our growing team given his vast global expertise and proven track record in India and beyond,” said Sankar Krishnan, MD and co-head of Alvarez & Marsal India.
While globally Alvarez & Marsal has worked on high-profile distress situations like Lehman Brothers’ bankruptcy, in India it has been focusing on helping private equity firms improve operating efficiencies of their portfolio companies.
The firm set up operations in India around five years ago and has worked with companies like textile firm OCM India, which is owned by WL Ross & Co.
In March this year, the firm launched the corporate finance and commercial due diligence practices in India and also appointed Vikram Utamsingh as co-head of Indian business. Nandini Chopra and Manish Saigal were appointed as MDs of corporate finance and commercial due diligence units, respectively.
(Edited by Joby Puthuparampil Johnson)