The Truth Triumphs..

No less than a Bollywood movie, the 7 years long family business dispute doesn't seem to be ending. Started in 1983 by Late Jagdish Agarwal, Supreme Transport Organisation was revolutionized in 2002 by his brother Kamal Agarwal. Kamal took charge at 21 years of age in 1987 and is the brightest light in the Christmas tree. After two crisis in 2002 and 2006 the company was as good as it was in 1983, with no assets, no capital but now with a strong goodwill and experience. From 2002 the debt saga began with unsecured borrowings of 2 crores, which was 76+ crores in december 2015 when official disputes began. While Late Jagdish was following right principles of 'earn your own living' through this debt free family business, Kamal was contradictory and believed in pampering each and everyone in the family, irrespective of their interest in family business and indolent attitude, with considerable borrowings on high interest rates through his personal guarantees and strong goodwill....

In India, a billion people encourage each other to get into disputes, or if already in one, fuel it to the fullest! Because it’s the people who benefit the most from your disputes, more than you! If not monetarily, entertainment and gossips for sure! After my 4 years long family business dispute, I learnt a few lessons which I expect people to refrain from.  If you ever make someone a Director in your company, ensure you have his resignation and board approvals signed prior to appointment. Laws and NCLT are almost impossible to convince removal of any director without his own willingness, especially once in dispute. If you can avoid making someone a shareholder and a director, nothing is better than giving them a good, well defined position and role. The first thing these directors and shareholders can do is move to NCLT filing the most common ‘Mismanagement and misappropriation of company’ petition, which would go on for years, simultaneously damaging your company everyday...