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ELP tax partner Ritesh Kanodia to begin start-up with others

Kanodia: Mystery plans
Kanodia: Mystery plans
Exclusive: Economic Laws Practice (ELP) Mumbai indirect tax associate partner Ritesh Kanodia resigned last month after more than six years at the firm, to start up an independent tax practice of two or more partners.

Kanodia, who qualified as a chartered accountant in 1998, said his “first encounter with indirect tax” came in 2005, as the role of assistant manager on the indirect tax advisory team of audit and financial consultancy Deloitte.

He joined ELP as an associate in the firm’s indirect tax team in December 2006, and was promoted to associate partner level in 2011.

“At ELP it was a very good phase for me to continue; I was made an associate partner. But I was interested in something more innovative and entrepreneurial, and in starting something on my own,” he noted.

Kanodia mentioned that his career had consisted of a mix of chartered accountancy, teaching, and indirect tax practice. He said that ELP provided him a good platform in terms of learning, intellect and client counselling, and his decision to leave was made in a short space of time.

It is understood that the new firm may be started with several co-founding partners, but Kanodia declined to comment at this point on the new set up.

ELP managing partner Rohan Shah declined to comment at the time of going to press.

Legally India reported last week that ELP competition law partner Samir Gandhi had joined AZB & Partners.

This week the firm promoted eight associate partners to partnership outside the equity pool, while four partners were brought into the equity pool to double it beyond the four founding partners.

It is also considering the implementation of a report prepared by HR consultancy firm Aon Hewitt, which was hired around February this year, as part of the firm’s wider partnership restructuring drive.

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