Sri H.A.K. Rao

Sri. A. Ramaswamiengar

The partnership firm Rao & Swami was set up in October 1963 by two neighbours, Shri Asur Ramaswamiengar who was in his early 60s and Sri H.A.K Rao who was then nearly half his age, both of whom found that they were like minded. ...

Late Sri Ramaswamiengar Bcom, G.D.A., F.C.A, was born in November 1899, grew up in Mysore, went to Madras (as Chennai was then known) to study accountancy. He qualified as a G.D.A. and RA and was admitted as a member of ICAI on its constitution on Jul 1 ,1949. He settled down in Bengaluru and started his practice. At the time of the firm’s formation, he was auditor and advisor to some premier educational institutions and businesses. Sri H.A.K. Rao qualified in 1952 after undergoing his articleship at Bombay (as Mumbai was then known) under R.K.Karanth & Co. He came down to Bengaluru in 1953 and at the start of the 1960s his practice was beginning to grow and he was looking for partners. Thus Rao & Swami was formed and its first office was on the fourth floor of the newly built Canara Bank Head Office on JC Road. The firm from then on grew to be what it is today. The areas of practice of the firm were shaped by Sri H.A.K. Rao who was an expert in Audit and Taxation. His areas of practice included advisory services on law, taxation, audit/accounting matters, representation before Tribunals on Direct Taxes and Commercial Tax Matters, real estate development and drafting of deeds. Because of his vast experience he had been called upon by the courts to investigate as Court Commissioner and by the Income Tax Department for special audits. He had acted as arbitrator and counsellor on many occasions.

Sri H.A.K. Rao was active in the affairs of ICAI. He was the first Regional Council member from Karnataka and later went on to become Central Council Member for three terms between 1964 to 1972.

Both the founding partners died in harness. Sri Ramaswamiengar passed away after a brief illness in February 1982. Sri H.A.K. Rao passed away recently after nearly 69 years of practice on April 3rd 2021. Their principles of serving the clients, fighting for justice and fair play, without compromising on one’s independence as an auditor or professional, will remain the guiding principles for the firm.