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"Quick to go through and easy to follow, there’s not a dull moment,” attested the chairman of the Godrej Group, Adi Godrej before launching Minoo Shroff’s memoirs titled Not A Dull Moment on his 87th birthday on January 28, 2016 amidst a select gathering at the Bombay Gymkhana. The book bears "a great title” to convey the highlights of "a great son of India,” added Godrej who appreciated Shroff’s role in keeping alive the Forum of Free Enterprise (FFE) where his uncle A. D. Shroff (ADS) and eminent jurist Nani Palkhivala too had played stellar roles to counter the influence of socialism "which did a lot of damage to India.”
The economist’s interactions with the who’s who in many countries are related in this book. In response to those who frequently ask, "How did you meet these people?” Shroff told the gathering he has a straightforward answer, "Networking is very essential.” As he further elaborated, having been a signatory to several deals and negotiating with foreign banks, he always evinces an interest in "meeting the think tank, the advisors” and in understanding their style of functioning. "Men at the top should be concerned with policies, not trivia,” he believes.
"Elated and embarrassed” by the accolades paid to him, Shroff confessed that he is "not a great speaker, nor a writer,” and has deliberately kept the book down to 122 pages: "You can read it (on a journey) from Bombay to Khandala, not even Bombay to Poona.”
"Some are born great, some achieve greatness and some have greatness thrust upon them.” Quoting Shakespeare, solicitor Nadir Modi commented that "Minoo comes under all three categories.” Being the nephew of ADS "a financial colossus,” he was born great. He achieved greatness when his interactions with the Japanese resulted in his being conferred the rare honor of Order of the Rising Sun with Neck Ribbon. He had greatness thrust upon him when he had a half hour meeting with the Queen of England during which time she impressed him with her knowledge of Zoroastrians and India.
The chairman of Kotak and Company, Suresh Kotak remarked that he was impressed by Shroff’s "individual and institutional” accomplishments. Commenting that "in the corporate world, the most important thing is ethics,” which Shroff amply demonstrated, Kotak referred to Shroff as "a multifaceted personality” and referred to his leading role in different organizations.
The evening’s master of ceremonies Behroze Daruwalla commented on Shroff’s "kadar and kaalji (care and concern) for the people around him,” appreciated that he had expressed his "frank thoughts without breaking any-one’s dignity” and commended his "ability to build consensus” which she felt was a rare quality in a man of power. Shroff’s executive secretary of 53 years Arni Daruwalla presented him with a vase in Belgian crystal to mark his new milestone.

 

 

 

 

 

 

 

Frequently introduced as an economist, most would expect Minoo Shroff to be abreast of current financial trends. It is only on reading this hardcover Not A Dull Moment that one can get insights into his macro and micro contribution to the domain, his mastery of the subject and the esteem with which he is held by senior leaders in India and abroad.
"This certainly is not a biography. The narrative that I have written for my close associates and family members… (is) entirely from memory as I kept no diaries. There may be some discrepancies, but to the best of my knowledge, nothing major…It is also hoped that some of the learning presented here will be of value to the younger generation of entrepreneurs and professionals,” states the author in his introduction.
 "There is so much to learn from the Japanese – keeping time, discipline, integrity, commitment, hard work and a unique sense of patriotism,” he remarks.  In another context he states, "There is a signal lesson for all of us that while raising issues with senior government officials, accentuate only on points within the control and authority of the concerned official.” As chairman of the India advisory board of Standard Chartered Bank, Shroff who had got "a wide exposure to international banking” stressed that Indian companies undertaking joint ventures abroad must prepare their executives regarding the social customs, etiquette and business practices of the countries where they will be posted.
In the first section some of his long-standing peers recognize his influence. "Minoo Shroff has been my guru for over half a century,” writes Dr Vijaypat Singhania, chairman emeritus of Raymond Limited, adding, "We often traveled abroad and stayed in the same room to save costs. I saw him awaking much before me and doing his early morning exercises. That accounts for his fitness.” The chairman of HDFC (Housing Development and Finance Corporation) Deepak Parekh, remarked that Shroff "held a statesman like status but has preferred to underplay his achievements.”
The narrative states that from his mother Jerbai the son learnt the necessity of being fluent in English, while his father Rustomji who was in the construction industry impressed on Minoo that besides hard work and sound education, good grooming was essential to make an impact in life. Giving a glimpse of the pre-Independence scene in Bombay, Shroff relates his meeting with Nehru in 1945 when he was 16 years old.  After his matriculation from Bharda New High School he studied science at St Xavier’s College while his first cousin Villoo who was later to be his wife was in the Arts faculty. Being good at table tennis, they teamed up as mixed double partners in college competitions and married a decade later. Widowed in 2014, Minoo chose "to keep her memory alive throughout this volume” by starting each section of his book with quotations from the collection of thoughts of seers and philosophers that she had painstakingly recorded in six notebooks.
After his graduation Shroff was planning to study textile technology in Manchester and was accepted in two institutes there but on the recommendation of ADS he enrolled for a morning diploma course in commerce at Davar’s College and served as a trainee at the Investment Corporation of India Limited, studying how investment proposals were appraised as also the history of some of the prominent Tata Companies. He was also convinced to attend public lectures on finance and economic subjects and the annual general meetings of major companies. Subsequently he did a short course in cost accountancy which was then in a nascent stage and gained practical experience at National Ekco (subsequently renamed NELCO). Over the years Shroff served on the board of directors of reputed companies from the J. K. Group, Piramals, Blue Star, Steel Tubes of India, Nagarjuna Group, Shrenuj, Airfreight, Gujarat Chemicals, Rallis…
Among the institutions which Shroff headed or served as office bearer were the Bombay Management Association, the All India Manufacturers’ Organization, the Organization for Public Life for Businessmen and Professionals, the World Zarathushti Chamber of Commerce (WZCC), the Bombay Parsi Punchayet, the Indo-Iranian Friendship Society, The A. D. Shroff Memorial Trust, FFE and the Indo-Japanese Association.

 

 

 

 

 

 

In the section on "My mentors,” Shroff starts with ADS, and includes Narayan Dandekar, managing director of ACC Limited and Dr K. S. Basu, director of the Jamnalal Bajaj Institute of Management. "The notables” section is the largest in the book, featuring leading figures in the fields of law, politics, business, banking, economics like Palkhivala, Minoo Masani, Pallonji Mistry, Ajay Piramal, Singhania, David Rockefeller and Prof Paul McCracken. Nearly two dozen photos of Shroff and his "notables” are interspersed in the book.
  As sums up Adi Siganporia, former senior executive of the Tata Group and currently corporate secretary of the WZCC, in his foreword, "Here is a man and here is a book which if read carefully, underlines what honesty and character really mean.”       PARINAZ M. GANDHI