Fix it before it breaks

Where Murugappa and GMR score over Fortis and Raymond

Looks like promoters of a few family businesses refuse to learn from the past or fail to put mechanisms in place to prevent a recurrence of feuds in the family. Until the early 1990s, feuds in family businesses could not destruct the family wealth entirely as the businesses had the coveted licences in a controlled economy and the cover of limited competition. In a liberalised economy, feuds between the promoter family members not only spoil the reputation of the family and the company, but also destroy shareholder value.

Look no further than two recent cases for proof.

On September 4, 2018, Shivinder