Prof. M. D. Limaye - Super Guru Forever

Principal M. D. Limaye

A strict Principal, an educational reformist, a thinker, an excellent orator and teacher, fine academician, and a perfect gentleman; that is Principal M. D. Limaye for every one of us. His influence on students and parents is so much that even today he is referred to as Principal and not as ex-Principal Limaye. If one looks at his career graph one comes across with various facets which had influenced his road map to the heights he had reached. However, there is no denial of the fact that the graph commenced in 1950 and went up, up and up.

The beginning.....

Being eldest son in the family and premature demise of his father, forced him to adopt motto ‘learn while earn’. After completion of the graduation in commerce, his career began as a corporate executive at a TATA group company in 1946. It was the first opportunity came his way. The job provided the financial support lack the excitement. A routine type work load, which used to be over in 3 to 4 hours of the day part, made him look out for the right opportunity which would be of his liking and challenging.

As a professor.....

The first transition came along his way when in 1950, Dr. S. K. Murnajan, the then Principal of Sydenham College spotted the spark in young Mr.Limaye, and offered him the professorship at most prestigious college. He started teaching Accountancy, even though he was not a Chartered Accountant by profession. Excellent teaching skills made him very popular professor in a short time. Such was his proficiency in Accountancy, that senior Chartered Accountants namely Mr.P.C.Hansotia, Mr.Ghatalia and Mr.Pardiwala tried to pursue him to become a Chartered Accountant. Prof. Limaye was reluctant to join as he had a family to support. Mr. Pardiwala even offered him a job to support the family income. However by the time Professor Limaye had made up his mind to be an educationalist and a teacher for the life time. He continued to be at Sydenham as a Professor. During his tenure at Sydenham, Mr.K.T.Merchant, the Principal of the college spotted the administrative capabilities in Professor Limaye and gave him additional responsibilities of College administration and also liaison with the Bombay University. Both responsibilities were carried out by Prof. LImaye efficiently. Professor Limaye also effectively ensured the smooth transition of Sydenham college premises from Victoria Terminus to Churchgate.

During 1955, as a recognition of his knowledgeable studies and understanding of educational system, the then Principal of Sydenham College recommended Professor Limaye as a member of the board of Studies at University of Bombay; even though at that time he was not even Head of the Department at Sydenham. Professor Limaye was the junior most member of the Board of Studies. He became a very active and vocal member of the Board of Studies. He seized that opportunity to recommend few modifications in the age old course ware. He strongly felt that the course ware should be flexible enough to respond to the changing times. During 1963, he became the Chairman of Board of Studies and Dean of the faculty of commerce, which he continued for over two decades.

As a Principal.....

Prof. Limaye’s career took a sharp upturn in 1959 when Parle Tilak Vidyalaya, an educational institute of great repute offered him the Vice Principal ship of the proposed Commerce College. It was a great challenge for Professor Limaye as the offer was not only for Vice Principal ship but also for implementation of the project as person in-charge. He accepted the challenge by leaving a secured job at Sydenham. He not only successfully commenced the M. L. Dahanukar College of Commerce on time but also ensured that it will be a leading institution from the beginning.

He continued to be the Principal of the college till he joined the University of Bombay during the year 1983. As a Principal he dealt with management, government, teaching staff, administrative staff, parents, students and politicians. He never worked under the pressure. He had balance approach to such pressures.

A human touch.....

Principal Limaye was a disciplinarian par excellence. He was recognized as a very strict ruler. However there was a soft and caring person under the veil of Principal. Recongnizing the evils of smoking, he banned smoking in the corridors, classroom and library. He always ensured free admissions to needy students, provided free study books to the needy students and unlimited books and periodicals to the teaching staff. He created an excellent library. At the beginning, college had dual timings for the same class. He convinced the governing Board to discontinue the practice. He went out of his way to ensure the availability of reading room facility to the needy students by keeping open reading room by keeping open reading room and some of the classrooms till midnight.

As an Academician.....

Prof. Limaye was and is an excellent orator. He had varied teaching interest, such as economics, accountancy, secretarial practice, business finance and commerce. After retiring as a principal, he continued to be a free lance lecturer on capital markets. He has to his credit books on Secretarial Practice and Insurance. He also gave lectures on Finance and budget. He was an excellent research guide for students and professionals pursuing Ph.D. Degree. He has successfully guided persons for Ph.D. degree. Needless to say, he was post graduate examiner at several Universities.

As a Pro vice Chancellor.....

In recognition of his knowledge and skills, stint as a Principal for over two decades and as a educational reformist, the Maharashtra Government in 1983 Bestowed on him Pro Vice Chancellorship. The post was specially created at that time. He was the first appointee as a Pro Vice Chacellor. During the tenure as Pro V. C. he introduced educational reforms in course ware to make it more in line with changing times. However, as a Pro. B. C, he had to face Government pressures to allow certain irregularities which as a Pro. FE. C, he refused to. Ultimately being a firm believer in the ethics and principles he finally relinquished the position.

As a SEBI nominee.....

After retiring from the educational career Prof. Limaye devoted his time for the society and general public. He was a founder and initiator of the investment and investor education programme at Lokamanya Seva Sangh, a renowned public institution. He set the goal to enlighten the small investors about the investments opportunities and capital markets. He spearheaded the movement for transparency and corporate governance. In recognition of his services, Securities Exchange Board of India nominated him as an independent Director on the Board of Bombay Stock Exchange. He was very active and vocal member on the board and was instrumental for the clean business practices at the Stock Exchange. He was also appointed as a nominee director on the Board of several companies by ICICI, IDBI, SICom, LIC, MSFS etc. He had been a consultant on Company law and take over problems. He was appointed by Forward market Commission as Director of Forward Market in Oil Seeds. His services were recognized by Government of Maharashtra by awarding him the title ‘Justice of Peace.’

We shall never forget Limaye Sir : Super Guru forever

- By Shri Suhas Bade
Batch 1976