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Arthur Andersen heirs re-enter India with Vaish best friendship, 17 years after DSK marriage

The original Mr Arthur Edward Andersen (1885-1947)
The original Mr Arthur Edward Andersen (1885-1947)

Vaish Associates has joined international tax law firm network Andersen Global which has collaborations with legally independent law firms in 103 locations worldwide, it announced on its website yesterday.

In India, other than Vaish, Nangia Advisors is also a part of the Andersen network. Nangia and Vaish were 2 among 6 entities, including four professiona services companies, which won a “much-contested” bid to be a part of the network, reported the Economic Times and Mint.

It is not Andersen’s first foray into India: DSK Legal had been set up in 2001 as a best friend of Arthur Andersen.

“India is one of the most strategic markets in the world. The relationship with the Vaish law firm provides us with an outstanding firm that is best-in-class in direct taxation and legal services. We have developed an excellent relationship with some of their partners and share a common vision,” said Mark Vorsatz, Global Chairman and Andersen Tax LLC CEO in Andersen’s announcement.

Vaish co-managing partners Bomi Daruwala and Vinay Vaish were not reachable for comment and partner Hemant Puthran declined to comment earlier this week.

Daruwala commented in Andersen’s announcement: “The Indian economy is growing rapidly, and our collaboration with Andersen Global strengthens our capability to provide high quality, creative, and client-focused legal and business advisory services.”

Neo Andersen: A brief history

Andersen Global was established in June 2013 by US-based tax law firm Andersen Tax and a Swiss tax firm, as a vehicle to expand its international presence.

Andersen Tax was born out of Arthur Andersen’s tax practice in 2002, after a portion of the tax practice was bought by HSBC. A total of 23 remaining former Arthur Andersen partners then joined Andersen Tax.

Andersen Tax was known as WTAS LLC when it was first formed and Andersen Global was known as WTAS Global. In September 2014 WTAS had rebranded as Andersen Tax, and WTAS Global as Andersen Global, after having bought the rights to the iconic brand name “Andersen”.

The San Francisco headquartered Andersen Tax has offices in 19 locations across the US, 5 across Canada, 6 across Germany, 2 in Brazil, 2 in Chile, one in Egypt, one in Ireland, one in Israel, one in Kenya, 4 in Turkey, one in Switzerland, 4 in Spain, one in Portugal, 2 in Nigeria, 3 in Netherlands, 5 in Mexico and 2 in Luxembourg. It has 1000 employees and close to 100 managing directors.

The international association Andersen Global has been collaborating with law firms outside of the US, beginning with Europe in June 2013 and expanding its member firm network to Switzerland, Italy, Germany, Latin America, Guatemala, Spain, Brazil, Chile, Ireland, Israel, Netherlands, Portugal, Nigeria, Egypt, Turkey, Greece and Cyprus, Mexico, Uruguay, Kenya, Ecuador, Canada, Tanzania and other locations in subsequent years.

Some of the firms in its global network:

  • UK firms Mark Davies & Associates in London and RBC in London and Panama City,
  • French firm STC Partners in Paris,
  • Israeli firm YETax in Tel Aviv,
  • middle-eastern law firm Alem & Associates in Riyadh, UAE and in Lebanon,
  • Fischer & Schickendantz in Uruguay,
  • Ugandan firm Ligomarc Advocates in Kampala,
  • Tanzanian firm East African Law Chambers,
  • Russian firm Taxperience in Moscow,
  • A2Z Tax & Legal in Warsaw, Poland,
  • and firm Picon & Associados in Lima.

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