Since 1925, this Mumbai-based family has immersed itself in the world of finance.
One encounters successive generations in a family adopting a particular profession. Medicine, architecture, business, sports and politics are only some of those professions.
What about chartered accountancy? Although uncommon, there definitely are entire families dedicated to a profession so intrinsically tied to the world of finance.
The Chaturvedi’s, who run the BM Chaturvedi & Co. chartered accountancy firm in Mumbai, the financial capital of India, is one such clan.
Brij Mohan Chaturvedi, the head of the family, recently applied to the Guinness World Records and Limca Book of Records.
Why? He believes that the Chaturvedi family is the only one in the world which has five generations from the same bloodline in the same profession, reports The Hindu.
A third-generation CA, BM Chaturvedi decided to go for the prize after his granddaughter Mohini Chaturvedi passed the notoriously hard qualifying exam, and thus joined the family business.
Originally from the city of Mathura in Uttar Pradesh, it was BM Chaturvedi’s grandfather Bishambar Nath Chaturvedi, who became a CA in 1925 after an apprenticeship-stint with a Delhi-based firm.
Following his decision to become a CA in the 1920s, approximately 500 people from his caste in Mathura have gone onto join the profession.
Both of BN Chaturvedi’s sons—Amar Nath (BM Chaturvedi’s father) and Dina Nath—took up the mantle of becoming CA’s with the former starting his career in 1955. BM began his CA career a shade over two decades later. Two of his brothers and cousin also took up the profession.
Although none of his children followed in his footsteps, his nephews and nieces have obliged, alongside his granddaughter (his youngest daughter’s child).
Speaking to The Hindu, Chaturvedi said that he has 11 direct blood relatives who are chartered accountants. The current record holder from Nigeria, David Omueya Dafinone, who has five—three sons and two daughters as qualified CAs.
“To the best of our knowledge, we are the only family in the world to have five generations of CAs coming from direct blood relation. As the head of the family, I have applied for the world record,” BM Chaturvedi told the publication. “We have also approached the American Institute of CPAs and the Institute of Chartered Accounts of England and Wales for recognition.” Two more family members are expected to join the profession later this year.
It isn’t very difficult to posit why successive generations have taken up this profession. For starters, it is a well-paying profession. A certain degree of expertise is also passed on from one generation to another, thus paving the way for the next line of CAs.