BDO International Ltd, the $6 billion Belgium-based auditing firm, has appointed MZSK & Associates as its new member firm in India. The registered entity is known as BDO India LLP.
VCCircle reported first that the deal is expected when BDO India’s four-year JV with Haribhakti Consulting ended in 2012. (SEE: Post Haribhakti split, BDO to form JV with MZS & Associates for India play).
The new partnership for BDO comes after its split with Haribhakti and another spilt in 2008 with Kolkata-based Lodha & Co owned by late RS Lodha.
BDO specialises in audit, tax and advisory services and MZSK specialises in providing services in tax, regulatory and audit assurance. The company’s offering also includes tax services, transaction advisory and business transformation services.
Milind Kothari, managing partner and head of the MZSK & Associates’ direct tax practice, said, "Our client-centric approach is exactly in tune with BDO’s vision to be the leader for exceptional client service".
Stephen Darley, CEO of BDO Asia Pacific region, said, "Their already-established reputation, together with their evident expertise, will ensure a strong and enthusiastic presence for us in this important market, at a time when the Indian sub-continent is inspiring more and more investment confidence from outside”.
MZSK & Associates was formed in 2011 when two firms in Mumbai and Pune merged to form MZSK & Associates. Mumbai-based partners Milind Kothari and Zulfiqar Shivji led their former firm for 10 years prior to the merger, while Ashish Khandelwal, Neelesh Khandelwal together with Sagar Shah and Nitin Shah, brought with them the experience and expertise of a Pune firm established some 40 years ago.
(Edited by Joby Puthuparampil Johnson)