Born in 1899, Ardeshir Darabshaw Shroff graduated from Sydenham College in Bombay and the London School of Economics. Later, he joined the Chase Bank in London as an apprentice.

On his return to India, he worked with the well-known firm of Batliwala and Karani as a share-broker. In 1938, when Subhash Chandra Bose, who was then the president of the Indian National Congress, appointed a National Planning Committee with Pandit Jawaharlal Nehru as the Chairman, A. D. Shroff was one of the Members of the Committee.

In January 1940, he joined Tatas as Financial Advisor. About his joining Tatas J.R.D. Tata said later - "He made at the time such an impression on Sir N. B. Saklatvala and me that we promptly persuaded him to join us on a full time basis”.

He was instrumental in promoting the Investment Corporation of India in 1937. One of the greatest authorities on finance and commerce in the country he made a substantial contribution to this field during his lifetime. He was responsible in promoting ICICI (Industrial Credit and Investment Corporation of India Ltd.) who regarded him as a founding father.

Besides being the Director-in-charge of the Investment Corporation, A. D. Shroff was also the Chairman of the Textile Companies, NELCO and the New India Assurance Company.

He was one of the authors of the Bombay Plan and represented India as a non-official delegate at the International Monetary Conference at Brettenwoods in 1944. He also represented or headed several Government Committees including the well known Shroff Committee on Finance for the Private Sector set up by the Reserve Bank of India.

After retiring from Tatas in 1960, he devoted most of his time to the cause of free enterprise.

In July 1956, he established the Forum of Free Enterprise, a non-political organisation devoted to educating public opinion in India on free enterprise and its close relationship with the democratic way of life.