Palkhivala, who was deeply touched by the honour bestowed upon him, recounted his memories of combating major handicaps to succeed in life. `As a child, I suffered from a dreadful stammer,' said he.

``Adult franchise should be done away with in the country to mitigate political instability,'' he said. Asked about the government's decision to move a confidence motion in the Lok Sabha, Palkhivala said ``the government had no other option.''

Speaking on the occasion, Alexander showered praises on Palkhivala saying that he was one of the most eminent personalities India ever had. He said that Palkhivala had declined the offer to become the country's Attorney General in 1968. ``He is the best Attorney General India never had,'' he remarked.

Vijay Kalantri, President of AIAI, saidPalkhivala's selfless contribution to different walks of public life is well-known. Every year generations of Indians have eagerly awaited his views on the union budget. The public meeting have been packed to capacity with spellbound audience for three decades.

``In view of his yeoman service rendered to the people and the government of India by him, the AIAI has the unique privilege and honour on deciding to confer his with the Lifetime Achievement Award,'' he added.