For Rama Prasad Goenka, chairman emeritus of the RPG Group, one of the regrets in his life is to back out from the signed agreement to buy Bombay Dyeing shares of Neville Wadia when the latter decided to migrate to England in early 60s. He agreed to sell his shares to Goenka. But it is said that Nusli Wadia, son of Neville, stepped in. He did not agree with the deal. Neville requested Goenka not to act on the signed agreement.
“Even now when I think of that, my eyes fill with tears,” said Goenka here on Friday while delivering his lecture on ‘building business empire’ at the Indian Chamber of Commerce. Other speakers were Jit Paul of Apeejay Surrendra Group and SK Roy, chairman of the Peerless Group.
“That agreement is still with Mollah and Mollah safe custody. I said that I would not go ahead with the agreement but would not destroy it either as this was a master key of a failure story,” said Goenka.
Goenka said the first success in his life came in early 1963. “I signed Cochin Refineries, where 51% share was with the government. At that time, the minister was KD Malviya and he wanted to break monopolies of the seven sisters?. It was a grand success for me,” Goenka said.
According to Goenka, his younger son Sanjiv wanted to get into CESC, but he was not interested. But Sanjiv insisted. Goenka narrated how he bought 15% of the total share from the market and became the chairman of CESC. But Bhaskar Mitter, the previous chairman, enjoyed all the privileges of the post.