The Hindu Business Line : `Ethically run business alone will live on'

Dr J.J. Irani, Director, Tata Sons, handing over a souvenir on the occasion of the golden jubilee of Carborundum Universal Ltd to its Managing Director, Mr Ramesh Agarwal (extreme left), at a function in Chennai on Thursday. Others in the picture are (from left) Mr M.V. Murugappan, former Chairman, Carborundum Universal; Mr P.S. Pai, Chairman, Murugappa Group; and Mr R. Seshasayee, Managing Director, Ashok Leyland. - Bijoy Ghosh

Chennai , Sept. 16

ONLY those business that are run on sound ethical principles will survive and flourish, the two key speakers at the Golden Jubilee celebrations of Carborundum Universal Ltd, said here on Thursday.

Dr J.J. Irani, Director, Tata Sons Ltd, stressed it was possible to run businesses without having to bribe anyone. Giving an anecdote from Tisco (of which he was the Managing Director), Dr Irani said that he had told the then Chief Minister of Bihar that the Tatas would not give any money to any political party, but would gladly co-operate in any social projects such as building schools or hospitals.

The Chief Minister replied "Fine" and since then there was never an overture for money.

Dr Irani, who had been requested to speak on Indian economy, said that Indians could excel in any field if only they applied their minds to a task. But Indians had to learn to be disciplined. He said that once a team of people from Tisco had been taken to Japan for training, where a trainer informed the group of rules to be followed for a particular technical task. Just then, one Indian asked about what would happen if someone flouted the rules. "Believe me, the Japanese did not understand the question?" Dr Irani said, observing that the Japanese could not comprehend why anyone would flout any rule.

Speaking on the occasion, Mr R. Seshasayee, Managing Director, Ashok Leyland, said that the Murugappa group (of which Carborundum Universal is a part) always stood for its ethical principles and no wonder, companies of the group flourished for fifty years.

Mr Seshasayee said that the success of Carborundum Universal proved that "manufacturing can succeed in India."

At the celebrations function here, senior officials of the Murugappa group observed that Carborundum Universal had been a profitable and dividend paying company in all the fifty years of its existence.

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