The accounting fraternity mourns the loss of one of its tallest leaders as Padma Shri awardee and former President of the Institute of Chartered Accountants of India (ICAI), T.N. Manoharan, passed away in Mumbai a few hours ago. He was widely regarded as a pillar of the profession, shaping critical reforms in accounting and corporate governance during his illustrious career.
Born in Rajakoil village near Gudiyatham to freedom fighter T.L. Narayanasamy Chowdhry and Saradammal, Manoharan was a post-graduate in commerce from Sri Venkateswara University and a law graduate from Madras Law College. A Chartered Accountant with over four decades of experience, he left an indelible mark on the profession through his visionary leadership.
Manoharan served as President of ICAI in 2006-07, during which he spearheaded several accounting reforms and was instrumental in bringing proactive amendments to the Chartered Accountants Act, 1949. He also held leadership roles as Chairman of the ICAI Accounting Research Foundation and served on the boards of key regulatory bodies, including the Insurance Regulatory and Development Authority (IRDA).
He gained national recognition when the Government of India nominated him to the board of Satyam Computer Services Ltd. after the corporate scandal in 2009. His efforts in reviving the company (later Mahindra Satyam) earned him accolades, including the NDTV Profit Business Leadership Award and the CNN-IBN Indian of the Year Award in Business in 2009.
Manoharan also served as Non-Executive Chairman of Canara Bank until August 2020 and was appointed Administrator of Lakshmi Vilas Bank by the Reserve Bank of India in November 2020. At the time of his passing, he was an Independent Director of Tech Mahindra Limited and a member of several advisory committees of the RBI and the Central Vigilance Commission.
In recognition of his contribution to the accounting profession and the financial sector, the Government of India conferred upon him the Padma Shri Award in 2010.
Members of ICAI and the wider business community expressed deep sorrow at his demise. “We lost a pillar of ICAI. His legacy will continue to inspire generations of Chartered Accountants,” said an ICAI member in an emotional tribute.
Funeral arrangements are expected to be announced soon.
