Once upon a time long, long ago I used to be a practising Chartered Accountant. In 1988 I used to be at the ITAT (Income Tax Appellate Tribunal) quite regularly (definitely on Fridays when the department used to file its Reference Applications!). A few people who used to be regular thereat were some super seniors from D M Harish’s office, Mr. V Patil, etc. and some other seniors like Mr. Gautam Doshi.
Easy to approach, you could always ask him for some small favors….Surely after 33 years I do not think he will remember me, but I have fond memories of GD. Then I moved on became a member of National Stock Exchange and lost touch with people like GD on a professional basis.
Suddenly I saw that he had become a senior executive with Adag group.
I am a cash flow oriented value investor. When I saw the books of the Adag group, it was very, very difficult to respect the group. However there are so many people at the top in that group that I could not believe it.
Not an appropriate time to name them, God bless them and hope they do not have to see the insides of a jail.
Where does the professional stop saying ‘I will do what my client wants’ or say ‘I will do what my employer wants’. In 1988 if some client had asked a Bansi Mehta or a Gautam Doshi to bribe an ITO to get an order, they would have been aghast. What makes them do things which are wrong?
GD is too intelligent not to have known what he was doing. Do we shrug and say ‘Arre these things happen in India?’ or do we take a stand saying ‘No, I will not do it’. I do not know. Thankfully in training there are no such calls. But the kids I train have to constantly battle between ‘what is good for the customer’ vs. ‘what is good for the manufacturer / distributor’. Tough choice for the kids. What happens when they do ‘what is good for the employer’ but get sacked when the regulator takes action against the distributor?
Will Adag continue to attract top flight talent or will there be a flight of top class talent – they have some brilliant people at the top (not just because I know them or they include a classmate!!).
tough questions. Thank God, I do not have to answer….
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