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Basaria I, the ancestor of the later Basaria family was a devoted person in Bhuj, Kutchh. His son was Fadhu, who travelled on foot to behold Imam Shah Khalilullah in Iran, where Fadhu died. Fadhu had three sons, Ghulam Ali, Basaria II and Jaffer. The most shinning figure among them was Basaria II, known as Basaria Fadhu.
Basaria Fadhu was born in 1848. Nothing is known of his early life. He however was well educated and a man of great responsibility. When the Honeymoon Lodge came into the possession of Imam Hasan Ali Shah in 1870, Varas Basaria Fadhu renovated the whole premises at his own expenses.

Imam Hasan Ali Shah appointed him his third Estate Agent for Karachi and Sind in the beginning of 1881 in place of Varas Vali. He discharged his services honestly and efficiently and travelled on horses in the villages of Sind for the betterment of the poor Ismailis. He was also famous for his generosity both inside and outside of the community.

In 1883, he married to Rani (d. 1927), the daughter of Varas Vali. She gave the birth to a son, Rahim.

In 1894, the Imam visited Gwadar for seven days. Varas Basaria, Mukhi Alarakhia and Mukhi Hashu with a few other Ismailis also visited Gwadar. They were lodged in a separate tent near the Imam. They presented a humble request to the Imam for a didar programme in Karachi. The Imam graciously accepted and returned to Bombay, from where he sailed for Karachi and stayed for 25 days.

The Khoja Panjibhai Club was founded in Karachi on June 26, 1905. Varas Basaria Fadhu was the Vice-Patron of the club, whereas the Imam was the Patron.

On Wednesday, January 3, 1912 at 11.00 a.m., the Imam visited his residence in Kharadhar, Karachi and showered blessings upon his family members.

His contribution in the first and second War Loan during the world war (1914-1919) was exceedingly well. The Ismailis celebrated with great pomp the 41st Birth Anniversary of the Imam on August 3rd, 1918 in Karachi. On that festive occasion, a grand function was organized with dinner at the Kharadhar Jamatkhana. Mr. Martin, the Collector of Karachi was also invited along with his wife. Dr. Haji and Alijah Alidina Ali Muhammad introduced him to Mukhi Rahmatullah Lutf Ali, Varas Basaria Fadhu, Varas Ibrahim Varas Vali and the members of the Council. Mr. Martin took the opportunity to speak of the Imam's valuable services. He mentioned the fact that he felt indebted to Varas Basaria Fadhu for investing Rs. 1,25,000/- in the first and second War Loan. He awarded the Certificate of Appreciation on behalf of the Viceroy of India.

With the cost of Rs. 50,000/- he started the construction of a musafarkhana in Kharadhar, Karachi in 1918, and during its construction, he passed away. His son Wazir Rahim Basaria however completed the project.

Since Varas Basaria Fadhu was overwhelmed in his work, he requested the Imam for an assistant to overcome the strain of work. The Imam appointed his son, Rahim Basaria to assist him in Karachi.

Dr. Datoo Mukhi Ramzan Ismail donated Rs. 9000/- for the construction of the 3rd floor of Kharadhar Jamatkhana, which was opened by Varas Basaria Fadhu on August 3, 1918. This event was most probably the last one he attended before his death.

Varas Basaria Fadhu served for 37 years and died in Karachi on Thursday, October 23, 1918 at the age of 70 years. The Imam sent a telegraphic message from Europe and blessed the departed soul for eternal peace. The Imam also insisted to keep his memory, and appointed Varas Ibrahim, the son of Varas Vali (d. 1881) as his fourth Estate Agent for Karachi and Sind.

On Sunday, April 11, 1920, the Imam said in Kharadhar Jamatkhana, Karachi that, 'Late Varas Basaria has built a musafarkhana , adjoining the Jamatkhana at the cost of about Rs. 70,000/- Varas Basaria served the Imam very much since childhood. I give him much blessings and also bless all his family members.'

During the mehmani on Sunday, April 18, 1920, the Imam said, 'The family members of Varas Basaria Fadhu Vali, young and old have served me to a great extent. Varas Basaria Fadhu was their guardian, who served me very much. All of you must have seen Varas Basaria. During his life, he performed chhanta and religious ceremonies using his intelligence and ability. He carried on his business and also rendered services to the jamat. When the time of his departure (from the world) came, he performed all his religious rites with his own intelligence and ability. I implore his son Wazir Rahim, his family and Varasiani to not mourn his death. I pray that Wazir Rahim may have a long life after him and become a great son, and serve me after him.' The Imam also said to Varasiani Gulshakarbai that, 'Do not have grief in the heart. Wazir (Basaria) served me more than what I can say, Khanavadan. One who serves me, he shall get its rewards.'

In conclusion, Varas Basaria Fadhu, his wife Rani and son Wazir Rahim Basaria lofted their names in history as most devoted and dedicated persons. The Imam said on December 15, 1927 at Bombay Jamatkhana, 'Varas Basaria, Varas Rahim and the mother of Varas Rahim have served my house very much. Varas Rahim has served me with love, dedication and whole-heartedly, and for that I give my best blessings. These three will remain alive in my thought, and I will remember (them) all the times. Although, they have left this undurable world, they are alive in my heart.'

Besides, one can measure the grand status of the father and son from another farman, which was made also in Karachi on January 26, 1938 that, 'He (Varas Muhammad Remu) is like a member of Ahl al-Bayt just as Wazir Basaria and Wazir Rahim became (the members of) Ahl al-Bayt.'