It is easy for the Government to take actions against companies because they can defend it as an issue of larger public interest. However, the Government always forgets that any company is built by the hard work of the employee and the vision of its creators. When I read about the NSEL-FTIL merger, I knew without even reading the law books, that it was unconstitutional. And, after I read Shantanu Guha Ray’s ‘The Target Book’, I knew I was right!
Jignesh Shah’s innovations are touted as true ‘Made-in-India’ exchanges and now, this very indigenous idea is being trashed because the Government believes that a defunct NSEL will add value to a thriving FTIL. I can’t imagine from when the Government went wrong with its ideas of right and wrong.
It looks like the mistakes by the earlier Government are being carried forward by the current Government. What is the end result of this merger? It will not benefit the over 63,000 shareholders and the employees of FTIL. It would also hinder FTIL’s growth and kill the spirit of innovation which has been the genesis of the FTIL group. To cut a company of its livelihood in such a brutal manner is unacceptable.
For more information check The Target Book Reviews.