Professor Khazanchi Lal Varshneya worked in the Finance and Accounting Area from 1st January 1969 to 15th May 1975.

Prof. Varshneya was born in Ahan, a small village in Brij Bhoomi, Hathras, Uttar Pradesh. He was born into a farmer's family to the Late Shri Tejpal Vaish and Smt. Javatri Devi. He did his schooling in Aligarh. In order to fund his college studies, Prof. Varshneya gave tuitions to students to meet his boarding and lodging expenses. In 1950, he received his BCom Degree from the Shri Hira Lal Barasani College in Aligarh.

After completing his graduation, he went to Delhi in September 1950 to join Swatantra Bharat Mills, a unit of Delhi Cloth Mills as a Clerk in Accounts department. His hard work was recognized by the management at DCM who promoted him to the position of Accounts Officer. Alongside his work with DCM, Prof. Varshneya enrolled for Diploma in Business Management at the Faculty of Management Studies, Delhi University. He passed the DBA Finance examination in 1961 with Distinction. Subsequently, he was awarded an MBA degree by the FMS, Delhi University.

He went to Stanford and Harvard as part of training programmes in teaching. He was rated as one of the best faculty members of the Institute by the students.

Prof. Varshneya wrote several cases on various Indian Corporate Houses and Public Sector Units. He served as Director of the Management Development Institute in June 1975. Prof. Varshneya joined the Indian Institute of Management in Lucknow as a Professor in 1993.

At the time of his death in 2013, Prof. Varshneya was survived by his wife, Saravati Devi and six children including sons, Raj Kumar, Anil Kumar and Sunil Kumar and daughters, Manorma, Shashi and Anju.

Date of Birth: June 01, 1930

Date of Death: March 01, 2013