22 April, 2021

Blind Ambition

Is Reliance guilty? It does not matter. This is the biggest battle it has ever faced. And it may have lost already.

Blind Ambition
There has never been an Indian company like this.

In a country where "business ethics" is considered a contradiction in terms, where mutterings about the "business-political nexus" raises only a few tired eyebrows today, the Reliance group continues to draw extreme responses. From the creator of unequalled wealth for lakhs of shareholders to Devil incarnate, an amoral behemoth which has brutally subverted the nation's politico-economic system to have its cake and devour it, at every opportunity it has got. Says S. Gurumurthy, veteran Reliance-basher: "Most of the major houses have broken many rules and grown because of their proximity to the political leadership. But everyone has a notion of a lakshman rekha which they never transgress. Reliance does not have such a dividing line."

The five allegations that are haunting Reliance, and which have plunged the Indian capital markets into a period of uncertainty unsurpassed since the days of the securities scam are:

  •  That Reliance has issued fake shares.

  •  That it has switched shares sent for transfer by buyers to...

More from Sandipan Deb

Latest Magazine

April 26, 2021

other articles from the issue

articles from the previous issue

Other magazine section