Famous Chartered Accountant : Mr.Nirmal Jain
To all those who think that CAs are just good for practice and don’t have entrepreneurial capacities, Mr.Nirmal Jain, is the answer.
Chairman and cofounder of India Infoline Ltd, he is a Chartered Accountants ( he scored AIR 2) as well as a Cost accountant. He also did an MBA from IIM Ahemdabad.
While working for Hindustan Unilever, he tried and tested ventures relating to equity research, one of them was started with another gem of CA fraternity, Mr. Motilal Oswal, but it didn’t survive. Mr. Jain didn’t give up and in the very next year he again set up the same business with one of his colleague of HUL, R Venkatraman, monitoring some 200 different shares, and serving as a source of information for brokers and retail investors.
Today India Infoline (IIFL) is a BSE listed company, which have market capitalisation of Rs. Cr.5555.45 ,with 4000 offices some of them are in countries like – Singapore, Dubai, USA, UK, Switzerland and Sri Lanka.
IIFL too has to faced some slack patches in year 2000. At that time ,it got into selling of insurance policies of ICICI, and thus became the first corporate insurance agent of the company.
Taking the less traveled path has made him one of his own kind in the industry. With his business insight and astuteness IIFL has expanded itself, both vertically and horizontally. IIFL launched its own mutual fund in 2012 and real estate fund in 2013 respectively. Apart from these IIFL provides the services insurance broking, wealth management, investment decisions etc.
I honestly hope that in the near future we will witness more luminaries like Mr. Jain, who will inspire others to follow the pursuit of their dreams, irrepective of the hurdels faced by them.
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Written By : Mrinal Pandey