Work hard & learn the work while pursuing Chartered Accountancy

He passed out of Apeejay School, Panchsheel Park in 1996 having taken Science in class XII with Physics, Chemistry, Math, and Biology. He is a true Apeejayite since he joined this school in the nursery and continued till senior secondary. Also, his younger son studies at Apeejay; his elder brother and first cousin are also Apeejayites.

One would expect a Science student to take up engineering or medicine as a professional career. But this alumnus did neither. Yes, you read that right. Lokesh Malik, a partner in KPMG India’s Mergers & Acquisitions Tax practice, decided to pursue Chartered Accountancy (CA).

“I was the only person among my friends who took up Science, all my friends did Commerce. My destiny had other things in store for me and I ended up doing CA. I joined Hansraj College to pursue BCom (H) and passed out in 1999. Thereafter I went on to do CA (PG course) and qualified in November 2004,” Malik said.

In a candid interview, he talks about fondest memories at the school and the challenges faced among other things.

What is a typical day like for you?

Since 2015, things have changed for me. I am a runner now and have run half marathons and a full marathon. So, for four days a week, the day starts with running around 5:30am for an hour. Once I am back at 6:30-6:45it is time to send the kids to school, though that is mostly done by my wife. But whenever I can, I contribute. Office starts around 8:30-9 am. The COVID-19 has changed the whole way we work; there are no timelines in terms of when we start and when it’s finished. But we are thankfully getting back to the physical world. So, I am back home by 8 pm. The eight-10 hours in the office, including travel, is spent dealing with clients and team members. Once I am home, I spend time with my parents and kids.

You spoke on the Indian tax perspective at ETMasterclass. Can you share your experience?

Tax is all about knowing the legislation, Income Tax Act, and different rules and regulations. These keep changing over a period of time. For instance, the Company Law that was established in 1956, was amended in 2013. There are a lot of youngsters or professionals working in different facets of industry and want to know the intricacies. The ET organised a masterclass. Since it was online, a lot of professionals from India and abroad who wanted to know about the nuances of taxation, rules, regulations, and changes joined in. It was a different experience since there was no live audience via Zoom. The idea was to share knowledge with those working in the taxation field.

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To become a CA is wonderful; it is a great profession to pursue. But it is tough, in terms of going through the process. By virtue of the nature of work you do, this field is rewarding. My suggestion would be to go through the training

–Lokesh Malik, Partner in KPMG India’s Mergers & Acquisitions Tax Practice

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What have been some of the challenges that you have faced?

Challenges are part and parcel of life and you have to get past them. When I look back at my school and professional journey, there have been two such moments. First, when I moved from Science to Commerce and did CA. Nobody in my family has a Commerce background; they are either engineers or doctors. I am the first Commerce graduate. When I shifted, it was a big decision and change. The only thing that kept me going was that since I was a Science student I could tackle this as well.

Second, there are a lot of people who want to take CA as a profession. It is an excellent profession to pursue with everything becoming global and MNCs coming into India. But while it was easy to enroll in the course, it was not easy to qualify. It was a bumpy ride with some ups and downs. But we were four-five friends, some from Apeejay, pursuing CA. The bright spot was hope. And I was lucky to finally qualify in 2004.

Remember, that hope ensures that you have a positive mindset. Hope for the best and work for the best. It may take time, but you will succeed.

What is your fondest memory at Apeejay?

This is a tough question to answer since it is difficult to pick ‘a fondest memory’. What I can say is that the 12 years at school were the best period of my life. Whether it was spending time with friends at the canteen, or playing basketball or learning music from Bhaskar sir in the instrumental class or the friends that I made. Two friends whom I would like to mention are Nimish Goel and Vibhor Gupta. I am still in touch with them – personally and professionally. School was the best place for creating those long lasting friendships.

Teacher/teachers who guided you.

They were fantastic. I can’t thank them enough for being so good. In class III, my math teacher was Pinky Mahajan ma’am, in class VIII-IX, we had Rita Kale ma’am, who taught English. Then there was SK Tripathi ma’am who taught Hindi, Ajit Singh sir, who taught Physical education, Ved Prakash sir who taught Physics. These teachers at different phases of my life made a difference and contributed to making me what I are today.

I took up Chemistry in graduation because of Anuradha Sen ma’am. She was very strict but the way she taught the subject was amazing. We used to be very scared of her but she made us fall in love with the subject. If I was not a CA, I would have done something along the lines that involved Chemistry because of my love for the subject.

What advice would you like to give to present students of Apeejay?

To become a CA is wonderful; it is a great profession to pursue. But it is tough, in terms of going through the process. By virtue of the nature of work you do, this field is rewarding. My suggestion would be to go through the training. This is where you learn the ins and outs of the profession. The two-three years that you spend training alongside your degree are crucial. If you get into CA, work hard and learn the work as you complete the programme.