Initially M. M. Savla & Co. was formed as a proprietary concern in 1986, which was later on converted to a partnership firm in 1990. The firm was based in Mumbai, having a wide experience in Audit & Assurance, Direct & Indirect Tax compliance, litigation & advisory along with some of the non-conventional areas of practice like business restructuring, valuation and due diligence, investment advisory etc. The firm was registered on the panel of the RBI, as well as empanelled with the C&AG, and has successfully carried out audits of the banking & insurance sector, and public sector undertakings. The firm has been duly peer-reviewed by the institute and has obtained the peer review certificate.

In 2012 firm moved to a bigger premises and strengthened its team by offering consultancy services in the area of Indirect taxes.  The firm started offering specialized services in respect of compliance, litigation & advisory services in various indirect tax laws viz Service Tax Laws, VAT, CST, and Profession Tax. The firm also provided training solutions to corporate non-corporate clientele with regards to procedural compliances under Service Tax & MVAT laws.

Later, M. M. Savla & Co. changed its name to Shah & Savla on the merger of one other firm of Chartered Accountant and recently the firm was converted to corporate entity ie. Shah & Savla LLP.