The UK arm of Grant Thornton, the accountancy and professional services provider, is drawing up plans to invest millions of pounds in its Indian sister firm.

Sky News understands that the top ten auditor has asked its more than 200 UK partners to vote on the proposal later this month.

One source said the deal would involve a substantial sum of money being ploughed by Grant Thornton UK into Grant Thornton Bharat, its Indian equivalent.

The source described the proposal as “unusual”.

Like many other professional services firms, Grant Thornton’s national businesses are structured as a partner-owned network overseen by Grant Thornton International.

A spokesperson for Grant Thornton UK LLP said: “As a leading provider of professional services in the UK and a member of the Grant Thornton International network, Grant Thornton UK LLP is regularly in discussion with other member firms in order to strengthen collaboration throughout the network in support of our clients.

“However, we will not be commenting on any such discussions.”

Growth pains: Ahead of Jeremy Hunt’s first budget, we ask what’s holding the British economy back?

Economy sees rebound in January helped by return of Premier League football

Jitters over health of US banks spark global stock market sell-off

A person close to the talks said the proposed deal would give the UK business greater access to one of the fastest-growing parts of Grant Thornton’s international network.

Grant Thornton’s UK partners are expected to vote in favour of the transaction, the person added.

The spokesman declined to comment further on the deal.

Related posts:

BoE governor: Climate risks ‘not reflected in market prices of most financial assets’ ‘Many thousands’ could lose jobs as changes to furlough scheme come into force Surprise rise in house prices and the UK economy looks strong Leap in interest for holidays as COVID testing restrictions are relaxed Sainsbury’s increases pay as cost-of-living crisis bites European markets jittery as France’s right-wing gather steam ahead of elections Cannes Lions owner Ascential plots £1.5bn transatlantic break-up Strikes at the UK’s largest container port will see supply chain ‘severely disrupted’, union warns Ministers line up WH Smith’s Staunton to chair embattled Post Office ‘End of the NHS as we know it’ if chancellor does not reverse mini-budget Wetherspoons puts 32 pubs up for sale as food and labour costs rise NatWest provides debt extension for those struggling with repayments of overdrafts and some loans