Chapter 10A: There are insiders. And then there are absolute insiders. And then within them are the nucleus. This is where the world is run from. What we see are the electrons and their various orbits. Each sticking to his own orbit.
The playbook for a poor kid in a small town from an average family is hard work and education. Make it to the IAS, make it to IIT, make it to IIM, Bank probationary officer ….. do something that differentiates you from the 140 crore others jostling to make a living. Somehow get a home, somehow safeguard your family, somehow save for a rainy day. It is a heart wrenching tragedy. And survival of the fittest is the mantra. Get ahead somehow. Anyhow.
Maslows need hierarchy tells us that when you don’t have food or water – you think of little else. You don’t have time to think of what Citi and HDFC are doing. You think of your own survival. The next promotion, the next election, the next child. It is a never ending struggle. It is easy for an outsider to take over such a country. Everything HAD a price. The key word being “had” – past tense. And that is why India’s century never came.
In 2008, a major transition was happening. Gujarat was emerging as a role model for growth. The nominee Prime Minister was not in control of the powers that be. An election was coming. And the financial world had melted. Citibank had to survive. Any how. Some how. They had two businesses – collecting money and controlling real estate.
By the time uncertainties had settled – and Hdfc treasury had been raided – Crown Jewels sold – and havala money usurped. It was because of HdfC and India that the Havala bank survived.
But a new threat had emerged.
Saharasri Subroto Roy.
The King of shadow banking.
Havala clients were asking for their money back. To park it with Sahara. He wasn’t exporting money. He was parking it in real estate. He had bailed out Amitabh Bachman. And was partnering Anil Ambani. He was set to do everything that HDFC citi wanted to. He had no bank. Axis was his bank. He never did bank with Citi. And he was moving money. Buying cricket teams, airlines, funding Bollywood. His sons could give citi executives a run do their money. And then he announced something that sent shock waves in the war room.
He said he would take banking inside every home by buying out the cable networks.
His progress had to be stalled. Anyhow.
Axis bank had to be taken over.
But first
Sahara had to be killed.
Without murder. By Indians.
Sahara owned the largest land bank. With zero debt. His friend had set up a home finance company. His other friend was battling his brother.
This was life and death.
Sahara had to be killed.
