Darshan Surana

Darshan Surana

Co-Founder and Partner
Transaction Advisory, M&A Tax
Valuations, Capital Markets, ESG

Darshan was the Director with BDO India & MZSK & Associates within Transaction Advisory Services for more than 8 years.
He was also associated with an Indian multi-national with a market capitalisation of ~USD 1 Bn at a senior position handling corporate finance, M&A and investor relations.
He has extensive experience in handling several transactions relating to

  • Due Diligence
  • Valuations
  •  Private Equity
  •  Domestic & Cross Border Corporate Restructuring
  •  Mergers/Demergers
  • Exchange Control Regulations
  •  Corporate Laws and India inbound and outbound strategies


He was integral part of a private equity deal of USD 60 Mn for a corporate engaged in food processing business, right from due diligence, commercial negotiations and closing
He lead diligence, valuation, transaction structuring and documentation support for a large family arrangement involving assets worth USD 750 Mn
He has also worked on valuations of various financial instruments as required under the Ind AS
Darshan has co-authored several white papers on Tax & Regulatory Matters

  • Darshan is Chartered Accoutant and Co-founder of ZADN. In his prior experience he was Vice President – Finance & Investor Relations at a reputed Indian Multinational. He was also associated with BDO India as Director, Transaction Advisory Services.
  • He has 15+ years of experience in M&A advisory, valuations, due diligence, private equity, corporate restructuring (domestic and cross-border), mergers/demergers, exchange control regulations, and corporate laws. During his corporate career he was part of transactions worth USD 500 Mn+
  • He works with many Promoters & Startup community advicing them on matters of strategic importance such as valuation, IPOs & alliances.
  • Recently completed an ESG certification from the ICAI

Zulfiqar Shivji


Hailing from a very strong background, Zulfi as he is rightly known in the professional circuit is a Chartered Accountant by qualification and has been a rank holder throughout his academic career.

With an expansive career spreading across 2 decades of experience in handling & leading engagements around Business and M&A Advisory, Corporate Restructuring, Mergers & Demergers, Private Equity Support, Due Diligence, Valuation & Corporate Finance are just some areas of his expertise.

Prior to becoming a Partner at ZADN & Associates, he was the Co-Founder & Sr. Partner with BDO India & MZSK heading the Transaction Advisory Services for more than a decade. He was also the International Liaison Partner for BDO India & has wide experience in working with International clientele and setting up international ventures in India.

With a wholistic approach towards every problem, he takes pride in being called a ‘Risk Taker’ & is recognized by the fraternity for his multi-dimensional skills in executing complex transactions with significant experience in some of the key sectors like Healthcare & Pharma, Retail & Trading, Hotels, Manufacturing, Technology, Services etc beyond borders.
Zulfi’s been a hands-on person when it comes to dealing with people or as a professional in suggesting solutions to his clients. He also served as an Independent Director on some of the unlisted subsidiaries of large corporates.

Zulfi loves to interact with people & has been an avid speaker across various National & International forums.

A ‘Household Zomato’ for his family & friends owing to his undying love for food to watching those clichéd movies, listening to songs is what he enjoys during his free time.