About Haribhakti Family

Around 400 years ago, it was a time when the Moghul Kingdom was in doldrums (downfall) and Peshwas were also on the downfall. It was at this time, Bajirao II of the Peshwa Kingdom in Pune was ruling. A frail Brahmin by name Fadnavis was trying his best to keep the Saffron colour flag flying. It was some time in 17th Century the two sons Haribhai and Bhaktibhai of Laxmidas Sheth — a resident of Village Madodar, of Vaghodia Taluka, Dist. Vadodara – who belonged to Vishalad Baniya community living in Bajwada, Vadodara – were in the business of lending money on interest. It was in the year 1730 when Pilajirao Gaekwad was ruling Baroda State. After the passing away of Laxmidas Sheth, the total responsibility of managing the business fell on the shoulders of his two sons Haribhai and Bhaktibhai.

Due to their progressive nature Haribhai and Bhaktibhai, they shifted their business to Pune due to which Peshwas could continue ruling. They established the business in the name of Haribhakti and worked day and night to get recognition as leading money lenders of Peshwa Kingdom. Due to their business acumen, both Haribhai and Bhaktibhai became very close to Fadnavis, Diwan of Peshwa Kingdom.

Peshwas at this time was in great financial difficulties. Both Haribhai and Bhaktibhai were introduced to Srimanth Peshwa (King Peshwa). King Peshwa immediately inducted both Haribhai and Bhaktibhai as Financiers of Peshwa Kingdom. It was these two brothers who used to manage every time Peswas needed finances. In recognition of their devoted and timely services to the Peshwa Kingdom, both brothers were given the title as “Chiranjeev Ilkab" (Lifetime Excellent award) In the year 1730, there was a plan to wage war between Peshwa Rulers and Nizam of British Empire and Tipu Sultan. Peshwa Ruler immediately ushered both Haribhai and Bhaktibhai and issued summon to join the impending war. Immediately after the War, both Haribhai and Bhaktibhai were given gallantry awards for their devoted service.

Since the Money Lending business of Haribhai and Bhaktibhai originated in Vadodara, Gaekwad Ruler also awarded by appointing them as Money Lenders (“Nagar Sheth") and giving them the title of “Raj Ratna" It was some time in 17th Century immediately after the War with Tipu Sultan, Bhaktibhai returned to Vadodara and stayed in his mansion in Ghadiali Pole near Mandvi.

In the sixth generation of Bhaktibhai was born Bhagwandas Haribhakti, whose first born was Jayant Haribhakti..