Virji Vora

Virji VoraAlternative Roman script transcriptions of his name found in various historical records include: "Virgee Vora," "Virjee Vorah," "Vorge Vora," "Baharji Bohra," and "Baharji Bohrah." A 1655 letter from him to the Company is signed in Gujarati as "Virji Vohora Kendua." According to English records, his personal worth is estimated to be worth 8 million rupees, a substantial amount of money at the time. He has been variously described as a "merchant prince," and a "plutocrat."

The business activities of Virji Vora included wholesale trading, money lending, and banking. He established a monopoly over certain imports in Surat, and dealt with a wide range of commodities including spices, bullion, coral, ivory, lead, and opium. He was a major credit supplier and customer of the British East India Company

Early life

The records of the East India Company frequently mention the business activities of Virji Vora, but little is known about his origins or family background. He has been variously described as a Jain merchant. According to this research, Virji was a Sthanakvasi Jain of the Lonkagacchiya group. He may have been a member of the Srimali Oswal Porwal caste group. He was deeply involved in religious affairs, and held the title of Samghapati/Sanghavi, which is given to a lay leader who makes a major contribution, such as building a temple or organizing a mass pilgrimage. This meant that Virji's agent was given a permit authorizing him to visit English ships for making commercial transactions, indicating that he was already a well-established merchant by 1619. 1635: Virji gave nine pieces of white cloth to the Company. 1643: The EIC gave a German Iron Chest (manufactured at Nuremberg) to Virji. 1654: Virji asked the Company directors to arbitrate on his disputes with their employees in India. The decision was not favorable to Vora, but the Company gave him several pieces of broad cloth and satin, two large looking-glasses, and a piece of double glided plate engraved with the Company's Coat of Arms. 1661: Virji gave the company calicoes.

The English often complained about the high interest rates charged by Virji Vora (1-1.5% per month). One English record states that, "the town [Surat] is very empty of moneys; Virji Vora is the only master of it" 1619: A record dated 25 August 1619, which states that Virji lent 25,000 mahmudis to the English. 1630: Lent Rs. 50,000 to the English at Agra. 1635: Lent Rs. 20,000 to the English. 1636: Lent Rs. 30,000 to the English. 1636: Lent Rs. 2 lakhs to the English. 1642: A letter dated 27 January 1642 mentions him as the "greatest creditor" of the East India Company, and mentions that he offered a loan of Rs. 100,000 in "necessitous and calamitous times." 1647: Financed the East India Company's voyage to Pegu, Burma by providing 10,000 pagodas (about 6000 £), at an interest of 1.17% per month, in Golconda. 1650: Offered Rs. 100,000 to Merry, the President at English Factory at Surat. 1669: The English borrowed Rs. 400,000 from a group of creditors, of which Virji was an important member.

Most of the capital lent to the Dutch East India Company (VOC) in India also came from Virji Vora and his close associate, Shantidas Jhaveri. Virji also lent money to individual Englishmen to finance their own private trade - a practice denounced by the Company's London office. Virji denied all the charges, and was summoned by the emperor. The emperor set him free and removed Hakim from office.

Last days

Virji Vora suffered a major setback when the Maratha chief Shivaji raided Surat in 1664. On 7 January 1664, Maratha soldiers demolished his residence and warehouses, and looted a large amount of money, along with pearls, rubies, emeralds, and diamonds. William Foster estimates this loot to be worth £50,000. However, Makrand Mehta (1991) believes that the English records would have certainly mentioned Virji if he had lived beyond 1670. He therefore speculates that Virji likely died in 1670.