Letter to BS: Nothing wrong in dynastic governance in the corporate world

This refers to the editorial “The family way” (July 24). I disagree on your core conclusion. Your observation that the perils of dynastic succession of a political party should be a lesson for the family-owned firms is simply wrong. A political party and a firm are not the same. To begin with, a party is not owned. But a firm is owned as the controlling shares belong to the promoter. Almost all the family-owned firms —Tata, Birla, Wipro (Premjis), Bajaj, Hero (Munjals), Mahindra etc. — have done well in India. I have been an independent director of a company for