Kasturbhai Lalbhai was an Indian industrialist and philanthropist. He co-founded the Arvind Mills along with his brothers and several other institutes. He was a cofounder of the Ahmadabad Education Society which initiated Ahmedabad University and the Indian Institute of Management.
About Kasturbhai Lalbhai in brief
Kasturbhai Lalbhai was an Indian industrialist and philanthropist. He co-founded the Arvind Mills along with his brothers and several other institutes. He was a cofounder of the Ahmadabad Education Society which initiated Ahmedabad University and the Indian Institute of Management Ahmedabad. He served as the chairman of historic and influential Anandji Kalyanji Trust that manages Shatrunjaya and other Jain pilgrimage centers for 50 years. He belonged to the family of Nagarsheth of Ahmedabad, recognized by the Mughals, Marathas and the English during different times. He started off as a timekeeper in the mill, but fed up with the repetitive nature of the job, he started working with suppliers of the mill and traveled far and wide to understand the supplier market.
He joined the board of directors of Raipur mill in 1918. Later he established Ashoka Mills in the 1920s with help of the mentor and trusted general manager of all the textile mills Mr. Dahyabhai Motilal Patel who had the vision and insight to advise to invest in or acquire five mills between 1924 and 1938 including four belonging to relatives. In 1948, his business group was named in the list of business houses indulging in black-marketing. The Income Tax department followed its allegations with a spate of inquiries and after almost ten years absolved the group of any wrongdoing. In 1952, his trusted advisor and general manage Motil al Patel help start Atul Patel Limited, India’s modern dyestuff manufacturer, in collaboration with American Cyanamid Company.
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