Talaulicar's Goan flat and Pendse's posthumous relief

For Pendse, like many, the 16-year process itself proved to be the punishment

J E Talaulicar served the Tatas for the best part of four decades. In 1980, as managing director of Telco (now Tata Motors), he’d pulled off a Rs 48-crore convertible debentures issue with the help of a young and sharp stockbroker called Nimesh Kampani.

In India’s Industrialists, Margaret Herdeck and Gita Piramal write on how the issue had run into rough weather due to difficult market conditions. In a half-hour discussion, Kampani, who'd originally recommended a smaller issue size of Rs 20 crore, convinced Talaulicar he could raise the entire sum. “Kampani was convinced that an organised campaign