Further boosting tax, Advaita absorbs Atul Dua-remainder of Seth Dua firm that never recovered from Sunil Seth demise [UPDATE-1]

Atul Dua and team joins Advaita after Seth Dua firm falls apart without Seth
Atul Dua and team joins Advaita after Seth Dua firm falls apart without Seth

Advaita Legal, the best friend law firm of Big Four consultancy KPMG, has hired Atul Dua, the erstwhile co-founding partner of Seth Dua & Associates.

Update 11:15: Advaita managing partner Sujit Ghosh commented that around 20 lawyers had joined with Dua, who is joining as the Advaita’s third equity partner, growing the total firm to 70 in size. This would add to Advaita’s already strong tax practice, where the “vast majority” of the firm’s partners and senior principals (equivalent to salaried partners) were operating.

“Our flagship was the tax practice and it continues to be so. This is an augmentation to the tax practice,” said Ghosh. “Now with this new team joining in, it will start its new journey.”

The firm is now 70 fee-earners strong, of which three are partners, six are senior principals, five are principals and two are senior attorneys.

Seth Dua as a standalone firm has struggled ever since the death of Dua’s co-founding partner Sunil Seth in February 2017.

This resulted in a protracted mediation between Dua and the family of his late partner, with Dua having approached the Delhi high court to unfreeze the firm’s bank accounts.

Seth Dua as a firm had floundered since Seth’s demise, with erstwhile merger start-up firm Alpha Partners - effectively the firm’s Noida office - demerging again as we reported in May 2017.

Seth Dua partner Vasanth Rajasekaran, meanwhile, was picked up by Phoenix Legal in Delhi in September.

It is understood that negotiations for Dua to join Advaita have been going on for more than a month, though Dua had repeatedly declined to comment when contacted about his joining since for the past three weeks.

According to an Advaita press release published by Bar & Bench, Dua will be joining with his team of Amit Mehta, Sushil Mehta and Subodh Sadana as senior principals.

Comments

Guest 3 Oct 2017, 20:21
+11 -3
Hi

Very Bad article on Seth Dua...The level of your article is like People Media. Not professional... Only to smear Mr Dua A great Lawyer and very Professional...

It's a shame to write such article without knowing the true Story.... who signed it???
Ex Big 4 4 Oct 2017, 11:50
+0 -0
You cant blame the medium! Very few people can understand the real nuances of such kinds of deals!
Agree 4 Oct 2017, 06:49
+8 -8
Seth Dua was a great firm. Both Sunil and Atul were ably supported by Amit, Subodh and Sushil. [...] was a bad fish in the lake. All firms have some very good lawyers and some politicians. Everyone knows who jumps the ship after ensuring that it sinks... It is sad that the firm disintegrated because of certain factors but that has nothing to do with competence of professionals. Please respect the team for its competence.
Well Wisher! 4 Oct 2017, 07:41
+6 -3
There is a team of more than 20 lawyers moving with Atul Dua! It show that the firm was functioning well as a sole proprietary model under him!
Ex Big 4 4 Oct 2017, 11:39
+3 -3
I am so surprised and speechless! What were the compulsions for Atul to go for this exercise! Why would he do that? I always thought him to be an icon who gave up wonderful career at Big 4 firms and successfully set up, grew and operated a well known law firm! I am not able to come to terms of this event. Given Atul's structuring abilities, I can only hope that this is not some structured deal where he has actually acquired Advaita in a reverse merger and will now run it for KPMG! Perhaps that way he also does not need S&D name any longer which will help in present dispute with Seth family! The vision and ability of erstwhile leadership of Advaita to take the firm to a meaningful direction was considered by the KPMG leadership to be very limited indeed and the firm had become an inward looking proprietorship!
Well Wisher too!!! 4 Oct 2017, 12:57
+7 -3
This piece of article appears to be written by a disgruntled insider.....who holds a grudge against the firm for all wrong reasons. Its not a rocket science to guess who that bad fish in the lake was....and was recently shown the door....Period...Let the goodness prevail
Reality Check 5 Oct 2017, 08:39
+3 -2
Sujit is a brilliant tax professional, but sadly it appears that this deal has turned his firm into a sanctuary for the dead wood of seth dua, who drew a blank from the market.
Alias 5 Oct 2017, 12:33
+7 -1
I guess simple maths. Assuming both partner contributing 50% of revenue, surviving the entire firm without the other 50% has become very difficult when people have stood by firm and not left.

But why so hatred in the article? How do you know firm has struggled? it may be a calculated move for survival.