Corporate Credibility is key. If the Tatas are involved, their credibility is really the nations credibility. And if that is lost, all is lost. Money will come and go. Projects will come and go. When I called this out seeking details of board meeting of Tata Sons in which this 10,000 cr project was cleared – all hell broke loose. The Tatas denied the project with the CM looking like a fool and ECHT a really good boat making startup in tears. The Tata CeO phone is not reachable since my first post.
https://lnkd.in/gArctS-9
My key point was who is running these companies and with what governance structures. If this project has indeed been cleared by some Pr agency instead of a Board, then there is a serious issue. The reality is that there was no Board approval and no board meeting resolution in Tata Sons. Of course Tata Sons board meetings are well publicised on the press.
I called off the bluff the day the announcement was made itself:
The same issue is plaguing both L&T and HDFC. In L&T the ceo passes a dictat asking senior management not to look at their wives on Sunday and get out of home. He lives and is not terminated.
L&T shipbuilding in Chennai was targetting repair of deep state and US controlled naval assets under the Quad framework. It seemed like a good business to do provided there are no other national security issues. U.S. India ties will blow hot and cold – but how is it that the shipyard was conceived of just in time. Deep state ???
In HDFC the Chairman becomes a whistleblower. He is called a liar. A letterhead is purchased to give the company a clean chit without even meeting the whistle blower. And then without any known process and without shareholder consent, a new Chairman is appointed.
If this is not a collapse of governance
Then what is ???
This is not a case for retirement of the incumbents. It is a case for their termination.Activate to view larger image,