Lad was born in 1822 in a Gaud Saraswat Brahmin Marathi family in Mandrem (Manjari) Goa.

An Englishman, noticing his acumen at chess convinced his father to give the boy an English education.

Around this time he won a prize for writing an essay on infanticide, and was appointed a teacher in the Elphinstone Institution.

He also tested the value of drugs to which the ancient Hindus had ascribed marvellous powers, among other pathological subjects of historical interest investigating that of leprosy.

He studied Indian antiquities, deciphering inscriptions and ascertaining the dates and history of ancient Sanskrit authors.

[1] The Mumbai Victoria & Albert Museum was renamed after him in 1975, and stands testimony to his contribution to the field of arts and heritage.