Oddly enough, the names of Rajat Gupta and Byrraju Ramalinga Raju, two of the brightest Indian corporate stars whose meteoric rises in their careers were followed by equally breathtaking falls, have been linked in other circumstances. A Google search of the two together will show a 2012 article in a pink paper making the point that Gupta’s case holds important lessons for Indian judicial system. “Take the case of Satyam Computer Services founder B Ramalinga Raju.” He remains an under trial in a case involving alleged fraud committed during his tenure as chairman of the company, now known as Mahindra Satyam. “[Rajat] Gupta’s trial began on May 21, 2012. On June 15, less than a month later, a jury found him guilty of conspiracy and three counts of insider trading. On October 24, he was sentenced to a 24-month jail term and fined $5 million,” says the writer, before going on to enumerate how Raju, the erstwhile poster boy of India’s IT sector had devised an elaborate mechanism to fudge and fake balance sheets, bank statements and records to the tune of millions that had resulted in a relatively long drawn out under trial case. (He had subsequently been sentenced to seven years rigorous imprisonment since).

B. Ramalinga Raju ( File Photo )

“Ramalinga Raju isn’t the first business tycoon to land in jail. Here’s a list of some of the big infamous names who had a big fall,” another article linking the two reads, going on to offer the list of usual suspects including Raj Rajaratnam, who played a notorious part in the Gupta insider trading case, and Dominique Strauss-Kahn, indicted for sexual assault. So, given their shared history, one would have imagined that McKinsey’s fallen star and Satyam Computers’ disgraced founder would give each other a wide berth in their post-incarceration, comeback second innings. But, the opposite appears to be true. If word from India’s corporate corridors is anything to go by, then the two are allegedly joining forces and are on the verge of launching, what is being described as “the world’s first patient-centric life solutions digital technology company”, one that “hopes to afford subscribers with an integrated digital healthcare platform.” When we’d met the soft-spoken and dapper Gupta last week in Mumbai, he’d spoken about putting his enormous experience and expertise in the field of ‘health’ to use. Who would have imagined that it would be with someone who had shared his astonishing career trajectory? And how will the market respond? Will it give them a prodigal’s welcome?
Watch this space.

True Lies
You would think that the high rollers, whose names adorn lists of loan defaulters and who owe employees and banks stratospheric amounts of moolah, would be well, a tad circumspect, if not a teeny weeny bit remorseful, right? After all, the route from penthouse to repent-house is not a very long one. But nada, nyet, no such thing! The weekend brings in news of not one or two, but three instances of sundry tycoons, currently under scrutiny for unprecedented millions, kicking up their heels. The first grandee whose clan has the distinction of being involved in the biggest bankruptcy case in Indian banking history (₹90,000 crore, gulp!) is reported to have brought in his birthday by flying friends and family for a celebration in a Middle Eastern city and with of course, no expenses being spared. The second, accused of siphoning around than ₹2,000 crore funds from an ingenious web of companies, is known to entertain in great style at his London townhouse. But it is the largesse and generosity of the third that merits attention. The gent, said to owe a staggering amount to lenders, obviously believes in doing things in great style. “At a recent wedding in his family, though he was expected to foot the bill of only half of the shenanigans, he insisted on paying for the full OTT over many weeks’ destination wedding,” informs our source, adding, “And of course, he’s a hero amongst his circle for being so generous, but…” she trailed off.
But?
“Well, some of his employees are said to have not received their pay checks for the past five months”.
Oh dear.

WTS WTM
What They Say
“Getting into an unknown and uncharted territory today. Doing something I have never done before. Excited and nervous both. Stay tuned for updates.”
- Actor Akshay Kumar on Twitter allegedly alluding to a forthcoming interaction with Prime Minister Narendra Modi

What They Mean
“Excited and nervous as for the first time, I am using my brain and not my brawn by taking a leaf out of my author-wife Twinkle’s book, and using words effectively and artfully to communicate a desired message.”

Flying High

Queenie Singh (left) with Jaggi Vasudev

It is certainly a sign of our times when our spiritual leaders meet our most glamorous socialites on international flights, and what’s more, are clad in twinning, matte black airport chic. “Every answer to my question was intelligent, spiritual and joyful. He has an exceptional presence and a divine energy,” said peripatetic jewellery designer Queenie Singh, whose London-Mumbai sojourns are interspersed with sorties to Chandigarh and Ludhiana. “It was exhilarating having him on the same flight,” said the mother of two young adults, new wife and fixture at Anabel’s, fast emerging as an all-round Alpha girl. “We spoke on certain topics like his new book on death, the inside story,” she said, describing him as an “intriguing man.” Meanwhile, her Alpha Mystic fellow traveller, who circumnavigates the globe at a dizzying speed while engaging with ever-increasing audiences on a variety of subjects with his characteristic earthiness, is said to have taken the close encounter with Singh and other such conditions in his customary stride. During a bout of air choppiness which resulted in a bit of inflight turbulence, he is said to have turned to her laughing and said, “At least we know we are on a flight, otherwise we could be on a bus!”

First Published: Apr 23, 2019 00:36 IST