ELP tax partner Ranjeet Mahtani moves to tax juggernaut Dhruva Advisors

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Monday, 22 October 2018 By Legally India Law firms

Economic Laws Practice (ELP) Mumbai-based tax partner Ranjeet Mahtani is joining Dhruva Advisors as a partner.

Mahtani had been promoted to partner from associate partner level at ELP in 2016.

He had started his career in 2004 at Deloitte Haskins and Sells, joining ELP in 2007 as an associate, where he had been promoted to associate partner in 2015.

He qualified in 2003 as a chartered accountant, and obtained his law degree in 2013 from KC Law College of Mumbai University.

ELP managing partner Suhail Nathani said: “We wish him well.”

Dhruva was set up in 2014 by ex-KPMG deputy CEO Dinesh Kanaba.. r, and specialises in tax.

In 2016, Dhruva had hired Shardul Amarchand Mangaldas tax head Krisnan Malhotra.

Back then it already had a headcount of 150 fee-earners and 19 partners.

partner hires Economic Laws Practice (ELP)Ranjeet Mahtani Dhruva Advisors

Comments

Catty 22 Oct 2018, 16:54

+10 -4

He's a great asset. Wishing him the very best!

Guest 23 Oct 2018, 06:00

+8 -2

Great catch. All the best buddy.

Guest 23 Oct 2018, 06:56

+25 -7

Wish you very best Ranjeet.

It would be interesting to see who is next in the line to jump the ship. It seems current tax leadership is not able to provide vision necessary to stir the tax practice. ELP becomes another CA firm rather than Tax Law firm.

Guest 25 Oct 2018, 10:40

+3 -3

ELP tax team is fighting for its pole positions within ELP. Heard that the numbers of partners and Associate partners in tax team are more or less similar to Sr. Associate, Managers and Associate.

Internally 25 Oct 2018, 11:26

+17 -4

The tax team has heck loads of IPCC/CA Final drop-outs and local law college graduates as trainees. They aren't recruiting fresh assocites but rather getting their work done at half the cost from trainees. Mind you, this system is simply meant to cut costs and not to assess those poor kids. Not only is it exploitative, but also compromises on quality.

Best of the rest 25 Oct 2018, 14:46

+16 -7

Agreed. The fact is the tax & tax lit team is still the largest in ELP by far - evidenced by the fact that, even now, with the problems highlighted by other posts it is refered to as a tax law firm. Suhail, despite having no tax experience is listed as an author on GST/Tax articles/they forwards - there is no reason for that other than insecurity of the new MP. A hit to quality & profitability here affects the whole ELP system, financially & reputationally. They are trying to move away from tax as they've realised these facts, and Suhail can't have more junior partners leading a practices 2-5x his practice size (PE, Corp & Competition, Trade doesn't count as Sanju wholeheartedly leads Trade team, clients are loyal to him, and not ELP).

hj2 25 Oct 2018, 18:19

+0 -8

Does it not mean that he is choosing the right people?

Best of the rest 2 25 Oct 2018, 18:48

+13 -0

Why transition what was till a couple of years ago a top 3 tax and tax lit law firm, into a transactional law firm, when over 15 years you couldn't build a significant transactional practice? [...] Why not give up some of your equity to bring a tax rainmaker on board instead to, if nothing else, steady the ship or merge with a smaller tax law firm?

Huh? 26 Oct 2018, 19:31

+6 -0

There are really just two peers who could conceivably fill Rohans shoes across tax and tax litigation. None of them are willing to come on board ELP as they have their own firms....ELP has no choice but to diversify given decaying tax practice

newbie 29 Oct 2018, 06:54

+0 -0

Who are these two stalwart peers? vacancy hai kya?

Ex ELP 26 Oct 2018, 03:53

+10 -10

Why do all these comments come out whenever any partner moves from any law firm? A lot of these comments about partner X being too good for firm Y yada yada yada - if for nothing else, they are remarkable for their consistency. It also appears that many of these views are coming from internal sources - should people not be raising these within their teams rather than venting in a unproductive manner? Huffing and puffing and trying to blow the house down has never been established as a sound approach for pretty much anything. Every firm adopts a different path to growth, but that intuitively seems better than not focusing on evolution of the firm and its practice areas.

Guest 29 Oct 2018, 08:04

+0 -0

Does it not show the culture of ELP equity partnership? they are least bother about the moral of members, ethics, culture, appreciating/ promoting due persons. ELP leadership only believe in might is right/ my way of highway approach. Ask any person within ELP they will vouch for it.

Now ELP is all about favoritism of certain individuals.

DhruvaAdv 23 Oct 2018, 08:49

+0 -0

Juggernaut? It is the Kochhar of accounting firms. They mainly do low quality work and a bit of [...]

Guest 23 Oct 2018, 13:36

+19 -4

Absolutely correct. Rohan sir took most of the high value clients with him and consequently the high margin work. The Tax practice was previously not just highest revenue stream but made up an even greater proportion of the profit. The economics of the team are now similar to a Big Four.

Ex ELP 23 Oct 2018, 18:02

+20 -2

Things not going well for ELP it seems post RS exit. Wonder the reason why? Heard more people waiting to jump ships in the next two months.

coolhead 24 Oct 2018, 13:09

+5 -0

Work quality is the issue. I hope ELP retains the badge as a prestigious tax law firm and not as a CA firm

Well wisher 26 Oct 2018, 10:30

+0 -0

Any views on how good is the firms transaction work ? Most of the comments (as coz of the subject matter) is focussed on its status as a tax firm. Isnt this firm supposed to have one of the best competition practice? Also, would be great if someone threw light on its transaction work, as I dont recollect the deal reportings anywhere.

HJ1 4 Nov 2018, 17:47

+0 -0

Good place to work. People in the corp team leave early, except for Manenders team.

newbie 5 Nov 2018, 08:59

+0 -0

What about IDT litigation? Do people get to leave on time?

Commenting is closed for this article.