MUMBAI, INDIA, 30 July 2026: Alvarez & Marsal (A&M), a leading global professional services firm, is scaling its global Tax & Regulatory practice into India, reinforcing its position in one of the world's most complex and high-growth markets for international investors and financial institutions. 

The firm launches with a founding team of five Managing Directors spanning international tax, M&A and PE taxation, transfer pricing, indirect tax, transaction advisory, and regulatory structuring — with a vision to create a best-in-class Tax practice. 

Aggressive Growth in a High-Priority Market

India represents one of A&M’s most significant strategic bets. The firm’s expansion reflects its broader commitment to bringing operator-led, execution-focused advisory to markets where regulatory and transactional complexity demands more than conventional advice. A&M’s model — senior practitioners leading every engagement, free from audit conflict constraints — offers a distinctive value proposition to clients navigating India’s fast-evolving tax and regulatory environment.

The India build-out is part of A&M’s wider global expansion. The firm’s growth strategy is anchored in attracting premier talent who seek an entrepreneurial environment — where client outcomes and value delivery are the priority. 

Ernesto Perez, Managing Director and Global Tax Practice Leader, Alvarez & Marsal, said, “India demands advice that is technically rigorous and commercially grounded — and this team is built to deliver exactly that. We are just getting started.”

Himanshu Bajaj, Managing Director & Head – Alvarez & Marsal India and GCC, said, “Our clients need advisors who can move at the pace of India's evolving market — with the expertise and judgment to execute. The ambition here is significant, and we're building accordingly.”

Keyur Shah, Managing Director and Head of Tax – India, Alvarez & Marsal, said, “A&M's entrepreneurial culture and commitment to senior-led delivery is what drew me here — the opportunity to build something meaningful in a market where technical depth and commercial pragmatism genuinely matter.”

James Badenach, Managing Director and Head of Tax, Asia Pacific, Alvarez & Marsal, said, "India is a large and complex market, and our ambition is to add real value where clients need it most. This team gives us the depth to do exactly that."

Founding Team

A&M’s India Tax & Regulatory practice is led by five Managing Directors:

Keyur Shah, Managing Director and Head of Tax & Regulatory Practice — leads the practice with over three decades of experience in international and corporate taxation, tax structuring, and regulatory advisory for global financial services clients.

Hasina Chhil, Managing Director — specializes in RBI licensing, India entry and exit strategies, and tax compliance for banks, NBFCs, fintech companies, and investment funds, with more than 20 years of experience.

Monika Arora, Managing Director — a New Delhi-based indirect tax specialist with more than 24 years of experience advising on GST, customs, compliance automation, and controversy management across manufacturing, e-commerce, and financial services.

Vishal Hakani, Managing Director — brings over 22 years of M&A tax and transaction advisory experience, with a particular focus on private equity, joining from Deloitte India.

Amod Khare, Managing Director — a transfer pricing and international tax specialist with more than 30 years of experience advising multinationals across technology, financial services, and pharmaceuticals.

A&M Tax’s India launch is part of a sustained period of significant investment in the formation of a truly global tax platform. In recent months, A&M Tax has entered several key European markets, including Italy, Sweden and Ireland. This growth reflects A&M Tax’s strategy to offer clients   fully integrated, conflict-free, global solutions.

A&M’s Tax expansion in India was also covered by International Tax Review - Read the article here.

About Alvarez & Marsal

Founded in 1983, Alvarez & Marsal is a leading global professional services firm. Renowned for its leadership, action, and results, Alvarez & Marsal provides advisory, business performance improvement, and turnaround management services, delivering practical solutions to address clients' unique challenges. With a worldwide network of experienced operators, world-class consultants, former regulators, and industry authorities, Alvarez & Marsal helps corporates, boards, private equity firms, law firms, and government agencies drive transformation, mitigate risk, and unlock value at every stage of growth.

To learn more, visit: AlvarezandMarsal.com.