It was the biggest homegrown challenger to the dominance of multinationals in tax and M&A advisory in India. But in less than a month the 13-year success of BMR unravelled. The firm will soon no longer exist. Last week BMR announced that its tax practice, 22 partners and over 350 professionals, will merge with Deloitte India and its mergers and acquisition and risk advisory practice, 9 partners and over 100 professionals, will join KPMG India. That leaves two partners in BMR – chief mentor Bobby Parikh and non-executive chairman Mukesh Butani. Both are name partners. The third name partner Rajeev Dimri is part of the team moving to Deloitte. What went wrong? One partner, preferring to...
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