DHIRUBHAI AMBANI BIOGRAPHY BOOK
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Dhirubhai Ambani's life is a rags-to-riches story, from Bombay's crowded Though Hamish has tried to write a biography of Ambani, this book suffers from a . The Polyester Prince: The Rise of Dhirubhai Ambani. A fascinating biography of Indian textile tycoon Dhirubhai Ambani, this book is the story of. Dhirajlal Hirachand Ambani, popularly known as Dhirubhai Ambani (28 December – 6 . In an unauthorized biography of Dhirubhai Ambani, by Hamish McDonald with the title The Polyester The book was not published in India because the Ambanis threatened legal action; an updated version went on sale.
To counter this, a group of stock brokers until recently referred to as "Friends of Reliance" started to buy the short sold shares of Reliance Industries on the Bombay Stock Exchange. The Bear Cartel was acting on the belief that the Bulls would be short of cash to complete the transactions and would be ready for settlement under the " Badla " trading system operative in the Bombay Stock Exchange.
On the day of settlement, the Bear Cartel was taken aback when the Bulls demanded a physical delivery of shares. To complete the transaction, the much money was provided to the stock brokers who had bought shares of Reliance, by Dhirubhai Ambani. The settlement caused an enormous uproar in the market. To find a solution to this situation, the Bombay Stock Exchange was closed for three business days.
The Bear Cartel bought shares of Reliance from the market at higher price levels and it was also learnt that Dhirubhai Ambani himself supplied those shares to the Bear Cartel and earned a healthy profit out of The Bear Cartel's adventure. After this incident, many questions were raised by his detractors and the press. Not many people were able to understand how a yarn trader until a few years ago was able to get in such a huge amount of cash flow during a crisis period.
The answer to this was provided by the then finance minister, Pranab Mukherjee in the Parliament. These investments were routed through many companies like Crocodile, Lota and Fiasco.
These companies were primarily registered in Isle of Man. All the promoters or owners of these companies had a common surname Shah. An investigation by the Reserve Bank of India in the incident did not find any unethical or illegal acts or transactions committed by Reliance or its promoters. Ambani was admitted to the Breach Candy Hospital in Mumbai on 24 June after he suffered a major stroke.
It was his second stroke, the first had occurred in February and had paralyzed his right hand. He was in a coma for more than a week and a number of doctors were consulted. He died on 6 July The country has lost iconic proof of what an ordinary Indian fired by the spirit of enterprise and driven by determination can achieve in his own lifetime. This new star, which rose on the horizon of the Indian industry three decades ago, remained on the top until the end by virtue of his ability to dream big and translate it into reality through the strength of his tenacity and perseverance.
I join the people of Maharashtra in paying my tribute to the memory of Ambani and convey my heartfelt condolences to the bereaved family.
Following his first stroke in , Ambani handed over control of Reliance to his sons, Mukesh and Anil. In November , Mukesh in an interview admitted to having differences with Anil over ownership issues . He also said that the differences "are in the private domain".
As of , the company has more than , employees. In , Reliance Industries was one of the two Indian companies to be ranked among the top in the Fortune list of the world's largest companies by revenue. In an unauthorized biography of Dhirubhai Ambani, by Hamish McDonald with the title The Polyester Prince , outlined all his political and business conquests. The book was not published in India because the Ambanis threatened legal action;  an updated version went on sale under the title Ambani and Sons in , and there has been no action against the publisher so far.
A Hindi film said to be loosely inspired by the life of Dhirubhai Ambani was released on 12 January Rahman shows the struggle of a man striving to make his mark in the Indian business world with a fictional Shakti Group of Industries.
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Dhirubhai Ambani. Mumbai , Maharashtra , India. Archived from the original on 14 January Retrieved on Retrieved 28 July Full List". Truly sensational!
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Can't imagine the kind of efforts that Hamish would have taken for it. Oct 11, Manoj Kumar rated it it was amazing.
This review has been hidden because it contains spoilers. To view it, click here. The other side of the rise of the largest private enterprise of India. Dec 13, Vikas Erraballi rated it liked it. The ban on the book was a real curiosity creator.
Nov 15, Govind Nigam rated it it was amazing. The most authentic critique of the Ambani patriarch, India's original robber baron. May 29, Prakash Shenoy rated it liked it.
The book reveals unbelievable rise and rise of Dhirubai Ambani. The various tactics and strategies adopted by him to opportunity of the prevailing economic and political condition of India.
Oct 21, Rahul rated it it was amazing. One of the best book Feb 17, Pramod rated it liked it. Wow that took a long time to complete odd pages. Firstly the book is banned by GOI and the Ambani family has done much to restrict any circulation of copies which almost seem non existent.
I got hold of a pdf copy online with numerous typo errors. The book delves into the business life of Ambani in great detail. The book claims that Dhirubhai Ambani and Co manipulated share price, played the role of really cunning fox at every turn, showed great extent of favoritism to people from Gujarat am Wow that took a long time to complete odd pages. The book claims that Dhirubhai Ambani and Co manipulated share price, played the role of really cunning fox at every turn, showed great extent of favoritism to people from Gujarat among other criminal frauds.
Ambani's it claims have smuggled crores worth of industrial equipment causing equally huge losses to the exchequer. The book also brings to light the connection however brief, with the Mumbai underground and the attempted assassination attempt on Nusli Wadia of Bombay Dyeing. The Ambani's have always been manipulating the ruling parties and effectively changing decisions in their favor.
It would be no surprise if Modi has also been cunningly used by them. Overall, the readability of the book is sub par as there are many financial terms used and a layman can get demotivated from continuing further reading. Overall an average read but still a good view into the public and business life of Dhirubhai Ambani.
Feb 07, PS Pranika rated it really liked it. Had read this for work, so had done basic research on Mr Ambani beforehand. So I already knew a lot of facts and stories, that are described at length in the book. But for somebody who is coming fresh, this book is a gold mine! This books shows the practical and dark side of Mr Ambani and how he navigated the tight bureaucratic structure of newly independent India; how he arm twisted it when needed and made the most of present scenarios.
In the face of these limitations, what Mr Ambani does is what makes him truly who he is. I feel this is a very correct portrayal of that man and you ought to read this book for a fuller perspective of him.
May 08, Mukesh Kumar rated it it was ok. Banning something ordinary, indeed gives it an aura of undeserved importance many a times. This book is a prime example of that. It was such a laborious read, had to skim over so many parts as it is not written compellingly at all. It is crammed with news stories, facts mixed with flights of fantasy to the brim, with hardly any attention to narrative style.
It doesn't help either that the author seems to have a superficial understanding of Indian politics. But the biggest put off though was his Banning something ordinary, indeed gives it an aura of undeserved importance many a times.
But the biggest put off though was his sympathy for Sangh and Hindutva movement. However, buried amidst all of this, there are some interesting factoids too, which might have been scandalous upon the release of the book.
But one has to have a large bowl of salt rady, while reading this. One is left with the feeling that the complex saga of the Ambani empire probably needed a better narration. Sep 17, Vinay Aggarwal rated it really liked it. This is almost a thriller novel with government, corporations, detectives and all dirty things money could do.
It does give a glimpse of how Ambani built his empire. Sadly, a lot of details remain unknown. I particularly wish the author should have tried to explain money flow, stock price and profitability a lot more. The writing style frequently goes back and forth in time, making it confusing sometimes. I also found that the book digresses sometimes to unrelated politics and becomes very slow This is almost a thriller novel with government, corporations, detectives and all dirty things money could do.
I also found that the book digresses sometimes to unrelated politics and becomes very slow after Jan 19, Clivemichael rated it liked it Shelves: This was a freebee from Goodreads and seems to be an unedited first or second draft.
Engaging and informative although experience with money management, law and Indian politics would facilitate a greater understanding of the situations described. I'm left shaking my head at the blatant This was a freebee from Goodreads and seems to be an unedited first or second draft. I'm left shaking my head at the blatant lengths one individual will go to attain an end.
May 03, Santanu rated it really liked it Shelves: Great to know the behind the scene story of the Ambanis. The book does a fair bit in portraying the background in terms of the business environment, political scene and media.
Explains many of the Reliances sensational periods very well. It has much less flavour of the personal aspects of Dhirubhai. So it is less of a bio, and more of a documentary on Reliances rise in Indian business scene.
Very well done throughout the book with well researched facts, a pinch of dramatisation and anecdotal sto Great to know the behind the scene story of the Ambanis. Very well done throughout the book with well researched facts, a pinch of dramatisation and anecdotal stories. Enjoyable read. Mar 12, Ashutosh rated it really liked it Shelves: Readers also enjoyed. About Hamish McDonald.
Hamish McDonald. Books by Hamish McDonald. Trivia About The Polyester Pri No trivia or quizzes yet. Quotes from The Polyester Pri Everybody has his own self-interest. Once you recognise that, everybody will be better off. Welcome back. Just a moment while we sign you in to your Goodreads account. Does anyone have a copy? Nusli Wadia.
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Wadia was in a talkative mood, and the two spoke for over five hours. Wadia himself went to the door and let us out. There was a reason for McDonald to look at Singh. Singh, as a vigilante finance minister from to in the Rajiv Gandhi government, had made life difficult for Reliance.
Singh had overseen a gradual relaxation of the Licence Raj and launched a drive against tax evaders. In March , shortly after Dhirubhai Ambani suffered a stroke, the Indian Express published exposes accusing Reliance of smuggling by under-invoicing. There were even rumours of a raid, and Singh was soon shunted out.
Singh had been a nagging thorn in the sensitive Reliance flesh. As a raw material, this was crucial for manufacturing polyester lament yarn. It then sold the shares to a small-time investment company connected with Reliance Industries. A Larsen and Toubro power plant in India. Credit: larsentoubro. Since these institutions were not legally allowed to sell to private entities, the entire process was seen as fraudulent.
Matters went out of hand, and the Ambanis backtracked. The author of the survey, Clive Crook, singled out Reliance Industries in his article.
This upset Dhirubhai Ambani and he reportedly vowed that henceforth the world would look up to Reliance. A foreign reporter McDonald with nothing to lose could just well be a loose cannon. Reliance thereafter put in more effort into media management. There were few news establishments or journalists who spoke or wrote against Reliance. Mystery of Birla House: Repeated history? Meanwhile, the more McDonald moved around and spoke to people, the more he got sucked in. The book disappeared from the market and was reported to have been sold to the Birlas through a deal possibly in the very late s which eventually included its copyright.
Dhirubhai was the golden boy of the Indira Gandhi and Rajiv Gandhi years. Dhirubhai was more or less dictating industrial policy to the government, not just by way of gaining favour, but scuppering his business rivals. A senior commercial journalist in Bombay recalls that journalists would get vouchers worth up to 2, rupees for goods at a Vimal [a Reliance brand] retail outlet called Laffans. Some in senior positions would get regular monthly payments or issues of Reliance shares and debentures at par.
He was a thorough gentleman. His door was open 24 hours a day for journalists. People would go to collect on first of the month. One who accepted Reliance debentures for himself, and help in arranging bank finance to pay for them, was Girilal Jain, editor of the Times of India for much of the s. They also became an extension of an intelligence network, asking rival businessmen for their frank views off the record about Reliance and then reporting them back.
On the theory that rumour and gossip are more keenly heeded because they carry an aura of exclusivity, the pressmen would be used to plant opinions about the merits of Reliance activities and the failings of other companies.
The Ambani tycoon, used to having journalists play ball, now faced a man who seemed intent on completing his work and could not be either won or bought over. What is little known is that Reliance Industries reacted even before McDonald could finish the manuscript. The notices quoted passages verbatim from the HarperCollins India version in support of their contention that the author was aiming to defame Dhirubhai Ambani.
The legal letter in a way pre-empted what McDonald was going to write, insisting that at no time had there been any attempt to verify the material with the clients, and action for exemplary damages and injunction would be made if the book was defamatory. The veiled threat did not deter McDonald; he carried on undaunted and unrattled. The pre-emptive strike did not work. Reliance Industries was unwilling to give up lightly.
The chief executive officer of Allen and Unwin, Patrick Gallagher, did not cower down either. Once the manuscript had been completed, he had a Sydney barrister go through it meticulously.
Changes were suggested and the author was asked for material to back up facts. Towards the end of , Allen and Unwin moved ahead with an initial print run of 3, The Indian edition ran into trouble. HarperCollins India, which had the Indian rights, had completed editing the manuscript and even started having pages printed, though those had not been collated and bound as a book.
Towards end, the company moved the lower district court of Tis Hazari in Delhi, and procured an injunction against publication. It was a temporary injunction that was never vacated a temporary injunction restrains publication for a specific period of time. And then, the much-awaited book simply disappeared from the Indian landscape.
McDonald could never have guessed that his work would effectively meet the same fate as the book that he had admiringly talked about: Mystery of Birla House. Rumours abounded and conspiracy theories wafted through corridors of power and in press clubs.
Where did the copies disappear? Towards the end of , during a chance meeting with HarperCollins editor Renuka Chatterjee at the Frankfurt Book Fair, McDonald came to know of the reason for pulping the book.
HarperCollins had received legal threats as well as notices of pre-publication injunctions warning that Reliance Industries would launch applications for injunction at every high court in India, and with twenty-two of them, the publisher was distraught about having to spend a fortune defending the book.
Cases like these drag on for years, and the book would never be published. Chatterjee also received calls dissuading her from going ahead with the publication, though she was not physically threatened. HarperCollins decided not to proceed with the publication and all printed-but-unbound copies were pulped.After suffering a heart attack in he had given the Reliance Empire to his two sons Mukesh and Anil Ambani.
A to Z of Entrepreneurship. For Reliance Industries, this would be nothing short of a public relations exercise. Nusli Wadia. Sreedharan M. Please complete this form and click the Sign up button to gain instant access.
Their individual reactions to Gas Wars probably told a different story; but then, neither had let the push come to a shove. This page was last edited on 21 May , at