Which nationalist leader did not accept the drain theory of Dadabhai Naoroji regarding British rule in India?

Introduction / Context:
The drain theory of Dadabhai Naoroji is a key concept in modern Indian history. It argued that British rule led to a continuous economic drain of wealth from India to Britain. Many nationalist leaders supported this idea, while a few did not accept it in the same way. This question checks knowledge of which leader did not believe in the drain theory.

Given Data / Assumptions:

- The drain theory was propounded by Dadabhai Naoroji to explain the economic exploitation of India. - Several Indian intellectuals and leaders discussed, supported or criticised this theory. - We need to identify who among the given four did not accept or believe the drain theory.

Concept / Approach:
In exam oriented history, it is well established that leaders like R C Dutt and M G Ranade broadly accepted the idea that British rule drained India of wealth, although they differed on some details. B G Tilak also strongly opposed British rule and highlighted economic exploitation. Sir Syed Ahmed Khan, on the other hand, focused more on cooperation with the British and on social and educational reforms, and he did not subscribe to the drain theory narrative in the same way as economic nationalists did.

Step-by-Step Solution:
Step 1: Recall that R C Dutt wrote detailed economic histories of India under British rule and basically supported the idea of drain of wealth. Step 2: Note that M G Ranade, though moderate, recognised economic harm caused by colonial policies and contributed to the same school of thought. Step 3: B G Tilak was an assertive nationalist who criticised British rule on many grounds, including economic exploitation. Step 4: Sir Syed Ahmed Khan is known mainly for founding the Aligarh movement and stressing loyalty to the British and modern education rather than for supporting economic drain theories. Step 5: Therefore, among the options, Sir Syed Ahmed Khan is the leader who did not believe in or adopt Dadabhai Naorojis drain theory.

Verification / Alternative check:
Standard history textbooks and reliable exam oriented notes on economic nationalism clearly mention that Sir Syed Ahmed Khan did not agree with the economic drain thesis. In contrast, Dadabhai Naoroji, R C Dutt and other early economic nationalists used the theory to critique colonial rule, which confirms that the majority of names in the options are there as supporting figures rather than critics.

Why Other Options Are Wrong:
B G Tilak criticised British rule strongly and did not oppose the idea that British policies drained India of wealth. R C Dutt expanded on the economic arguments of Dadabhai Naoroji and cannot be considered someone who rejected the drain theory. M G Ranade, while moderate, accepted many of the economic criticisms of colonial rule and did not deny the drain of resources.

Common Pitfalls:
A common mistake is to choose any moderate leader assuming that moderates did not support such strong economic criticism. However, many moderates actually helped develop the economic critique of imperialism. Another pitfall is to focus only on how famous a leader is, rather than recalling what specific ideas each one supported or rejected. It is important to connect Sir Syed Ahmed Khan mainly with educational and social reforms and his relatively loyalist stance toward the British.

Final Answer:
Thus, the leader who did not accept the drain theory of Dadabhai Naoroji is Sir Syed Ahmed Khan.