Ahmedabad: A 24-year-old chartered accountant belonging to an affluent Jain family from Mumbai embraced monkhood by renouncing his career and family business worth over Rs 100 crore.

Mokshesh Sheth, who managed his family's business for two years after becoming a CA, gave up all the earthly possessions and aspirations and became a Jain monk at a ceremony held in Gandhinagar, his uncle Girish Sheth said.

From today, Mokshesh, the eldest son of Mumbai-based businessman Sandip Sheth, will be known as 'Karunapremvijay Jee', he said.

"Our family originally belongs to Deesa town of Banaskantha district (in Gujarat) and is now settled in Mumbai. We are into aluminum business and have a factory in Sangli. Mokshesh handled the operations for two years after becoming a CA in his first attempt," said Girish Sheth.

"Mokshesh ran the business successfully and the turnover (at present) reached over Rs 100 crore," he claimed.

Yesterday, 12-year-old Bhavya Shah, son of a millionaire diamond merchant in Surat also embraced monkhood.

Talking to reporters before becoming a Jain monk, Bhavya said he was happy to leave behind his luxurious life.