PRADYUMNA NATVARLAL SHAH
(1st January, 1929 – 15th November, 2023)
MAHAMANAV PRADYUMNABHAI
Shri Pradyumnabhai (also known as Pradyumanbhai), the Bhishma Pita of CA Profession, left us as the Almighty called him to join His kingdom.
I have very fond memories of working with and interacting with Shri Pradyumanbhai over many years, for which I feel blessed.
He would call me for a meeting regarding his client’s foreign investments and / or matters connected with FERA / FEMA of his clients, and I would invariably tell him that I would go to his office to discuss, which I did. During the discussions, he gave a lot of credence to my knowledge of the subject, and that’s why I could solve his clients’ problems to their satisfaction.
He and our Firms were joint Auditors of a Public Limited Company. After my father’s death in 1977, I used to go to his office to discuss matters relating to that company with him and his Partner, Shri Indubhai Shah. During such discussions, he treated me as an equal while giving me the benefit of his knowledge and seniority and helping to resolve any issues.
Amongst others, he was an Independent Director of a reputed listed company, where he was the Chairman of the Audit Committee. After a few years, I was invited to join the Board of that Company as an Independent Director. At my first Board meeting of that Company, he welcomed me warmly and introduced me to the other members of the Board in eloquent words. Though he was the Chairman of its Audit Committee, he instructed the CFO to show me and obtain my approval of the quarterly and final financial results, which were approved by him.
Eventually, he retired as a Director of that Company because of his advanced age while I still continue as its Director. While parting, he requested the Chairman of that Company to make me the Chairman of its Audit Committee in his place, which position I still continue to hold.
His gracious, humble and fatherly approach towards me has taught me humility, sharing of knowledge and helping others in need. I have relied very heavily on his excellent analysis of the yearly Union Budget for my understanding. I have always gained knowledge from his brilliant articles in the Gujarati bi-weekly Vyapar on various aspects of Tax laws.
With his departure for his heavenly abode, I feel a void in my professional life, having lost a very fine human being.
I first came into his contact, although somewhat from a distance, in the year 1975 when BCAS’s popular program — Residential Refresher Course (RRC) was held in Dreamland Hotel at Mahabaleshwar. He was then chairman of the RRC Committee. I noticed that he had a very minute way of overseeing every group discussion and technical session. In the concluding session as a Chairman, he elaborated the essence of each technical session in such a manner that you really get the gist of the entire RRC. I was very much fascinated then by his abilities and developed a daydream that one day I would be able to make some attempt like Pradyumanbhai.
Meetings after that were quite frequent but from a distance. I never realised that the so-called distance just vanished when I first talked to him. I used to call Pradyumanbhai, Arvindbhai and Narayanbhai the BCAS trio. They used to be on the dais simultaneously on several occasions as brain trustees or in other capacities. The trio was shattered earlier by the demise of Narayanbhai, then Arvindbhai, and now it has disappeared from this physical world to occupy the position of stars in the sky.
He used to be a regular paper writer in both Residential as well as non-Residential RRCs, and his paper always used to give strength to the technical content of RRCs. His regular article in BCAJ in June, after the Finance Act was passed, always used to be a very simple and helpful feature to understand the ever-changing provisions of the Act. Besides this, he was quick to educate his professional colleagues on any new changes concerning Audit or taxation.
He used to be a great help to the Editor of BCAJ. I have enjoyed this privilege during my five-year tenure as BCAJ Editor. The journal requires page contents in multiples of four, i.e., the journal can be either 120 or 124 or 128 pages, etc. When the journal is falling short of content in this multiple of four, additional content is necessary and that too of precise length. Pradyumanbhai was such a great soul that he would provide useful content in exact words to adjust pages, and that too when you telephone at night and request content for the journal at a very short notice. He would always be available and was helpful and easily approachable.
Let’s all cherish his fond memories and try to emulate at least some of his qualities and that will be an appropriate Shraddhanjali to him.
Born on 1st January, 1929, Shri P. N. Shah had many laurels. He was President of the Institute of Chartered Accountants of India (ICAI) in the year 1983–84. He was also a President of the Bombay Chartered Accountants’ Society (BCAS) in the year 1968–69, and it was in his tenure that the first Residential Refresher Course (RRC) — the most sought-after event of the BCAS — took place. In the year 2002, he had settled the Trust in the name of BCAS Foundation. He had written many books for ICAI / BCAS, notably, (i) History of Accounting Profession Vol II published by ICAI (ii) Method of Accounting u/s. 145 of the Income tax Act and (iii) KarVivadSamadhan Scheme 1998 (Published by BCAS). Besides this, he was actively associated with many other professional and social organisations. He was on the Board of many limited companies including Banks. He was also associated with Gujarati News Paper Janmbhumi and Vyapar for more than five decades and was a regular columnist of Vyapar. After every budget, he used to write an articleon Budget in a very lucid and simple language,explaining the nuances of complicated provisions of the budget.
My association with him is since I became a Chartered Accountant. As he was staying in Santacruz, I went to take his advice on whether I should go into practice or service. His sincere advice was if you have an inclination to work hard and to serve the profession honestly then go into practice or otherwise choose service. So, I joined the practice. Thereafter, I often went to his house for some advice. When he was contesting for the Central Council Election of ICAI, I was working for him and was sitting in the election booths. Subsequently, when I contested the Central Council election of ICAI, he used to sit in my office and monitor the election very closely. He was always encouraging me to write articles and associate with other professional organisations. In fact, on his insistence, I joined the BCAS and subsequently, I became the Central Council Member of the ICAI. I have received many invaluable advice in my professional life and otherwise. Occasionally, I travelled with him to address seminars / conferences of the ICAI and other organisations. On many occasions, he chaired my sessions. I have written many articles jointly with him and under his guidance. I also had the privilege to co-write articles on a regular basis on professional ethics under the title “ICAI & Its Members” in the BCAJ. Whatever I am today in this profession is because of his blessing and advice. In short, he was my Godfather! In fact, when Shah & Co, celebrated its 75 years, I was one of the recipients of a souvenir through his hands.
His humbleness, thoroughness, respect for everyone and his encouragement to youngsters was amazing. His commitments and selfless contribution to the profession and to society at large were unmatchable. My tribute to him.
By his departure, not only have I lost my Godfather, but the profession has lost one of the finest professionals — a doyen, a legend — who will always live in our hearts. His guidance and advice will always be remembered and encourage us to walk on his path. May his soul rest in eternal peace! Om Shanti!
We were lucky to have known him and to have learnt from him for years — first as part of BCAS and then in his role for the Institute and the profession at large. All he did was always truly selfless.
One is bound to fall short of adjectives in describing him. He was a towering personality. His conduct was an illustrious reflection of an ethical professional. He showed us lessons of discipline, forthrightness and humility. He was always an affectionate father figure to all the juniors. No one would mind approaching him or confiding in him.
He was particular about minute details while not losing the big picture before him. It was also amazing to see his speed of disposal — whether he was dealing with tax or audit or Companies Act or Institute regulations.
Very few of us would know that he was instrumental in convincing the Government about the need to introduce tax audits to be conducted by Chartered Accountants. He did it with a vision which has unfolded over the years.
His regularity and punctuality were remarkable.He continued to participate actively in the Vile Parle Study Circle meetings with fair regularity, even at his advanced age. His enthusiasm for academic pursuit can be witnessed by the rollout of his monthly publication on behalf of his firm till almost last month.
His passing away is a huge loss. His values will continue to inspire us. Our true tribute to him will be to follow his ideals.
I end with a prayer to the Almighty to give courage to the family to bear this loss. May his soul rest in eternal peace. Om Shanti.
My initial interaction with him was somewhere in the late 70s during Vile Parle Study Circle (VPSC) meetings at N. M. College. I still recall the way he used to promote youngsters and selflessly help them understand the intricacies of the topic being discussed. He was one of the main pillars of the activities of VPSC. Many of our age like Pinakinbhai, Rajen, myself, etc., started our academic journey at VPSC (with BCAS as well) where he was a mentor unmatched. I still remember he started calling Pinakinbhai ‘Chotta Palkhivala’ since then and continued to refer to him as such while chairing VPSC’s annual budget meetings addressed by Pinakinbhai.
I came a little closer to him when I became convenor of the Taxation Committee of the Bombay Chartered Accountants’ Society (BCAS) when he was its Chairman. I was amazed to see him so meticulous, extremely devoted and punctual in his work, maintaining high standards of ethics and his dealing with others was with great humility. It was a learning experience for me. I had a similar experience in the BCAS Residential Refresher Courses (RRCs), where he would silently attend all group meetings and encourage the young group leaders in discussion.
He had at his heart an interest in the profession, more so, the interest of the young members. This was evident from his actions during his presidency at ICAI, which are difficult to describe. I still recall his keen interest and efforts made for getting introduced Tax Audit provisions in the Income-tax Act, 1961, which then became one of the major sources of revenue for young professionals, especially in tier II & III cities. This also created a perception that it has given a little edge to Chartered Accountants in the profession.
He was a true ‘Karma Yogi’ in the profession in every sense, be it selflessly imparting and spreading knowledge, taking up issues concerning the profession, mentoring young professionals and so on. I still recall when once I had to sit with him till late at night to prepare for an urgent representation for BCAS against the sudden omission of Rule 6DD(j) w.e.f. 25th June, 1995 (which provided an exception from rigours of section 40A(3) for genuine transactions under compelling circumstances) as he was genuinely agitated against the unjust omission of the Rule and that too, without prior discussion with the stakeholders. I also remember another incident of his reaction in the mid-90s when the ICAI decided to make Accounting Standards (AS) mandatory for Non-Corporate Entities. He firmly opposed that decision despite the fact that he was a past president of ICAI as he strongly felt that the time had not come for such a measure. He also called me to join him in writing a book on this subject, which was published by BCAS under the title ‘Accounting Standards as applicable to Non-Corporate Entities’. He also made his view clear at a largely attended seminar organised specifically for this purpose at ISKCON, Juhu, Mumbai. What is more worth noting is the fact that in that book he specifically gave a draft of qualifications for Auditors if such entities decide not to follow AS. Such was his conviction.
He was emotionally attached to BCAS, and his contribution to the BCAS is unparalleled in every sense of the term — be it the conception and growth of RRC, be it identifying young academicians and leaders, be it informally monitoring activities of BCAS, be it contribution to, and development of, BCAS Journal and so on. Members always used to look for his annual write-ups on the Finance Act in BCAJ. In fact, it is impossible to describe in this short message his unbelievable and unmatched contribution to the BCAS. I still recall when he suggested my name to present the paper of the late Shri Narangsaab at the RRC as Narangsaab was seriously ill. I was just shocked as I had, at that stage, never made such an attempt at BCAS RRC, but he insisted and encouraged me to play that role. This also reminds me of his surprise visit to my Room at the RRC to encourage me when I wrote my first paper for BCAS RRC, in 1991 on “Capital Gains”, and this was another such experience. I also recall when the late Shri Narayana Verma asked me (towards the end of my term as president) whom I would suggest as the candidate for presidentship for the next year and I suggested the name of Shri Ashok Dhere he told me that he agreed but will let me know within two to three days and subsequently confirmed with me by saying that Shri Pradyumanbhai has also agreed and he has also confirmed with Shri ArvindbhaiDalal. Likewise, Pradyumnabhai also informed me the same, and this reflects his belief in collective wisdom. This is the collective manner in which these seniors used to function at BCAS in such matters. Now, we have lost the most senior and last one of them.
In fact, knowing him a little closely during my long association with him I can still go on to describe his unassuming humility and nature and unbelievable contribution by recalling a number of personal experiences but due to space constraints, I am stopping at this with a personal note that I was fortunate to have the privilege of associating myself with him in several activities of the Society as well as at times on a personal level and have learned a lot from him in my professional career, more so on the ethical front. He was also unassuming in maintaining personal relationships and since he knew that my wife also attends my office, whenever we met, often he would affectionately ask me, “Ilaben kem che?”
We all at BCAS will miss Late Shri Pradyumanbhai as now he will no longer be with us to share his wisdom but his legacy of humility, values, dedication, selfless contribution and so on for the profession in general, and BCAS in particular, will never be out of our mind and will remain forever.
I sincerely pray to the Almighty that his pious soul may rest in eternal peace.
He was like a fatherly figure for all of us in the CA fraternity and, in particular, all BCAS members.
I came in contact with Pradyumnabhai in BCAS and the Vile Parle Study Circle and in various academic forums. He not only guided me but also encouraged me to do better and better.
The credit for my involvement in the BCAS, Vile Parle Study Circle, as well as institute activities, entirely goes to seniors like Pradyumanabhai. In my interactions with him for over 45 years, he was like a guiding light, and I learnt a lot about how to be dedicated, perfectionist and passionate about our professional commitments, keeping in mind high ethical values. Above all, what always inspired us was his simplicity, humility and accessibility to guide the youngsters.
Very few persons of his stretcher and calibre are to be found in today’s world.
We pray to the Almighty to keep his soul in peace and harmony and inspire us to follow whatever he has taught us.
My association with him is full of wonderful memories of his silent, unacknowledged, unnamed and undefined mentorship. He was the first to guide me professionally in vetting and settling my article on the Special Bearer Bonds Scheme promulgated in 1981, and his valuable suggestions led to important changes in the enactment of the Special Bearer Bonds Act, 1981. In my professional journey, he emphasised the need to share knowledge and experience and importantly taught me not to miss an opportunity to share the same and affirmatively advised me to accept an invitation to share gratefully and not for personal glory.
He set an example of what he preached by being a prolific writer and a visiting speaker all over the country, over a period of more than 60 years. His commitment was so profound that even during the years of his serious illness, he did not miss writing his annual feature on the Finance Act for BCAJ. He taught us to be a student all throughout as a step towards improving and polishing our professional skills, and for this, we shall always be grateful to him. His active participation even in recent years in the proceedings of seminars and conferences singularly marks his eagerness to always learn and incidentally to share also.
His immense administrative and management insights were no less helpful in managing the affairs of the Society. He was instrumental in introducing the post of Vice-President in the Society, which has held us in good steam over the decades. He once suggested that the younger past presidents be bestowed with higher responsibilities for the betterment of the Society.
Some of us were privileged to be the founding trustees of the BCAS Foundation, which was settled by him with great fondness. His love for charities and the welfare of the professionals continued through his regular attendance and guidance in the activities of the Foundation. He had a unique way of impressing his suggestions without making you realise the force behind the same. He taught us to set small targets to begin with and build up on the same in our journey towards the summit. His gentle suggestions will always guide the Foundation in discharging its noble functions.
Pradyumanbhai’s loss is so acute, and memories are so many that it is futile to express them in words. Yet, the single most thing that has impressed me is his unflinching commitment to ethics and values and his service to the profession; he was the doyen of the profession, most prominent and respected. I treasure a book on ‘Values’ gifted by him, which has guided me in times of darkness.
Henry Wadsworth Longfellow once said that when a great man dies, for the years, the light he leaves behind him lies on the paths of men.
Thank you, sir, for being a part of our lives.
Shri Shah was not only a leader but also a mentor and a visionary who inspired many with his wisdom, dedication and integrity. His absence will be profoundly felt by all who had the privilege of knowing him and learning from his vast experience.
We extend our heartfelt condolences to his family, friends and colleagues during this difficult time. May his soul rest in peace.
On 15th November, 2023, we lost our beloved Shri P. N. Shah. He was a professional class apart, a compassionate human; a Guru, friend, philosopher, mentor and guide to many; an Institution by himself. He has touched many lives and inspired everyone with his simplicity, humility and honesty. With his departure, a void is created in the CA profession. He has been a great source of inspiration for me. I had the privilege of working with him as a trustee of the BCAS Foundation. I learnt how to care for details and work with focus and precision.
I distinctly remember the Golden Jubilee celebrations of the Chartered Accountants Association Ahmedabad (CAAA) in 2000, wherein Shri Pradyumnabhai chaired my “FERA to FEMA” session. I was pleasantly surprised by his scholarly analysis of the subject and introduction of my paper, though FERA / FEMA was not his day-to-day practice area. I learnt how to study a subject and master it. Later on, I had many occasions to connect with him professionally and learnt a lot from him on every occasion.
Shri Pradyumnabhai has brought laurels to the CA profession as a president of the ICAI and president of the BCAS with his academic brilliance. The readers of the BCAJ used to eagerly await his masterly analysis of the Finance Act every year, which he continued till 2022. Even at the age of 93, he regularly wrote in the BCAJ and shared his knowledge with readers. This shows his commitment to the profession and zest for learning and sharing. No words are sufficient to describe this giant personality. A person like Pradyumnabhai never dies. He will ever remain alive in our hearts and memory and continue to guide generations to come. My prayers for the Sadgati of this pious Soul and heartfelt condolences to the grieving family.
नैनं छिन्दन्ति शस्त्राणि नैनं दहति पावकः। न चैनं क्लेदयन्त्यापो न शोषयति मारुतः।।2.23।।
No weapon can cut the soul into pieces, nor can it be burned by fire, nor moistened by water, nor withered by the wind.
Om Shanti! Shanti! Shanti!
