In the following 35 years, he created a business group involved in distribution, manufacturing and finance. After his retirement in 1954, he devoted most of his time, energy and money, until his death in 1964, to charitable activities. He was particularly interested in the causes of children's health and education, and built hundreds of schools, colleges, libraries, hostels and hospitals in India and Kenya.
His sons, Vipin and Anant, commenced the second stage of the family's business activities in 1973, with a focus on financial services. Meghraj was the first private ethnic Indian business house to receive a banking licence in the UK. This was the cornerstone of a financial services group offering private banking, property investment and investment banking. Since the turn of the century, Meghraj has been expanding internationally, with a particular focus on India.
