Corporate India has not shown the kind of ‘white collar crime’ that Ramalinga Raju of Satyam Computers appears to have committed since the 1960s. It was in late 1950s that a smooth talking gentleman from Andhra Pradesh called Jayanti Dharma Teja, better known as Dr Teja, turned up in Delhi to charm the then Prime Minister Pundit Jawaharlal Nehru with his talk about establishing a ‘National Shipping Empire’. Government of India’s backing became available to Dr. Teja in generous measure. With that backing came easy availability of loans from financial institutions and banks. Dr. Teja used this easy money to buy second, third or fifth hand tubs from wherever, with which to establish his ‘shipping empire’ called Jayanti Shipping Company. All the ships of the company were called ‘(Something) Jayanti’. For a few years Dr. Teja became a celebrity entrepreneur. Then came his fall which was a little slower than his rise. By 1965, his company was caught in a web of unpaid bills and unpaid bank loans, personally accused of all manner of financial skullduggery he became a fugitive from Indian law, taking shelter in Costa Rica. Dr Byrraju Ramalinga Raju co-founder and Chairman of Satyam Computers is as compelling a personality as Dr Dharma Teja was in his time. Unfortunately both of them misused their talents.
Filed under: Corporate India Tagged: | 'national shipping empire', 'white collar crime', Andhra Pradesh, co-founder and Chairman of Satyam Computers, Corporate India, Dr Byrraju Ramalinga Raju, Dr Teja, Failure is not a crime, Government of India, Jayanti Dharma Teja, Jayanti Shipping Company, Prime Minister Jawaharlal Nehru, Ramalinga Raju, Satyam Computers