The Supreme Court’s affirmation of the Delhi High Court ruling in the Progress Rail case provides important clarity on Permanent Establishment standards in India.
The decision reinforces key principles on control, core functions, agency thresholds, and profit attribution.
It further underscores that arm’s-length remuneration to Indian subsidiaries precludes additional attribution.
A significant development for multinational enterprises evaluating their India-linked operating models.

The Managing Director, based in Barcelona, brings 25 years of experience in the retail and QSR sectors to A&M’s growing practice

This report provides a comprehensive assessment of enterprise AI maturity across India Inc covering governance, responsible AI, model security, lifecycle risk management and regulatory readiness. The findings are based on a month-long survey of CISOs, CIOs, CTOs and CROs across BFSI, technology, healthcare, manufacturing, retail and other major sectors.

Alvarez & Marsal has been recognized with the American Bankruptcy Institute’s International Matter of the Year Award for our work on the In re FTX Trading LTD cross-border insolvency case.

London, 1 December 2025 – Leading global professional services firm Alvarez & Marsal (A&M) has bolstered its Corporate Finance practice with the launch of a new Public Company Advisory group and the appointment of Jamie Peel as a Senior Director in Manchester.

Leading global professional services firm Alvarez & Marsal (A&M) India has announced the appointment of senior industry leader Amit Dakshini within its Business Transformation Services practice.

Leading professional services firm Alvarez & Marsal (A&M) has expanded its Asset-Backed Finance (ABF) offering within its Global Valuation Services practice with the hiring of Managing Director Lewis Tse.

Global professional services firm Alvarez & Marsal (A&M) announces the addition of Managing Director Richard Olson to lead its EMEA Alternative Investment Services (AIS) practice based in London. Mr Olson brings over 20 years of portfolio valuation and transaction execution expertise in global alternative assets.

Global Investigations Review has included A&M in its 2025 GIR 100, highlighting our role as a trusted partner for complex, cross-border investigations. With a global team of seasoned experts, we help organizations uncover facts, manage risk, and meet regulatory expectations with confidence.

A&M becomes EHL’s first advisory firm partner within the Alliance, EHL’s global business network, uniting business insight and academic excellence to advance global hospitality.

A&M Tax today announces the joining of Lucy Sauvage as a Senior Director in Manchester. The strategic hire marks the launch of A&M’s Tax Risk and Disputes Management line, a significant development in further elevating the UK Tax practice’s capabilities.

Lexology Index recognized eight leading experts from A&M's Disputes and Investigations practice in their 2025 Commercial Litigation guide.

Javier Hernando appointed as Managing Director in Madrid to strengthen the firm’s CFO Services capabilities.

SYDNEY, 5 November 2025 Global professional services firm Alvarez & Marsal (A&M) today released fresh insights into Australia’s private debt market. Its latest Australian Private Debt Market Review 2025 reveals a robust growth trajectory as assets under management reach A$224 billion - a strong 9% increase from 2024.

SYDNEY, 20 October 2025 – Global professional services firm Alvarez & Marsal (A&M) in collaboration with the Turnaround Management Association (TMA) Australia, has released its annual Turnaround Survey, revealing a complex and challenging landscape for Australian businesses. While cautious optimism is emerging, the survey underscores that the road to recovery is fraught with significant challenges, with many sectors still grappling with the lingering effects of economic turbulence.