HyderaBAD. Andhra and Tamil Nadu are two states where politicians are in to serious business. A high number of Andhra MP's are from emerging business houses in 'infrastructure'. In essence, any business where government is involved. Tamil Nadu politicians prefer to stick to real estate, gold and media. AP uses the capital market route very regularly, whereas the Tamil nadu politician rarely does, preferring to keep affairs away from any form of scrutiny.
Andhra has given us a whole bunch of stories- Satyam, Maytas, Nagarjuna, Prithvi Info, Bartronics, The vanishing Leasing companies of the 80's, etc...
I recall that in our working career, we used to joke that if a company is from Hyderabad, Ahmedabad or Baroda, better be careful. These cities seem to specialise in nurturing greed, using whatever short cuts need to be deployed.
Of course, this abounds everywhere, but these locations seem to leave no route unturned, even if it means using the listing route.
Recently, the newspapers carried a story about how MP's from Andhra, who owned businesses in Infrastructure (and dealing with government for most business) were on committees that 'looked' in to delays and other problems in contracts with the National Highway Authority of India (NHAI). Of course, each of their companies has significant business with NHAI.
No follow up to the story. No TV channel raised this issue.
Of such stuff is corporate governance in India made of..
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