Ad Here  
A multi-faceted leader rests in peace The honest Sardarji Sivaraman, 100 Another Leo of real estate and education is no more The scientist-engineer who lucidly explained economics A honest bank executive... He elevated B&C to its best... Justice Iyer, 100 New team at the helm at TANSTIA MSV – the King of Light Music India’s Master Builder… Dada of drip irrigation... R Desikan – the crusader of consumer interests is gone Music Samrat!!! - TMS Dr M G K Menon He took Kone to great heights… A versatile, humane and efficient administrator/litterateur VV Goes... Remembering I K Gujral… How to build a nation Deora – the best networked politician.... When SPIC spawned star managers... ‘Sai’ Srinivasan no more The ‘Q’ factor cost him Cabinet Secretary’s post Big ideas, not big words, are important... Fighter-pilot turned monk... Centurion ‘Leo’ rests in peace Master of strokes Tribute – Ja Ra Su ‘Mandolin’ stops playing... Missile Man takes flight Brilliant Saeed saab Tribute: Dr. Krishnamoorthy Srinivas Saeed Jaffrey KP is no more A statue for RV, at last! A multi faceted prince is no more... Bal Thackeray Endearing Aachi... Father of German unification no more... Tribute – Baldev Raj Scientist and leader of educational reforms A genius civil servant fades Honest civil servant This trendsetter is no more M Subramaniam A welcome biography on a towering CA If only he had fastened the seat-belt... Jeppiar calls it a day The Hero of bicycles rests in peace The motor sportsman is no more Flute falls silent Colour-Chem's colorful personality Tribute - R K Baratan He contributed so much to the telecom revolution Music loses a maestro He breathed transport development Transport S Narayanan He was the greatest. The Rajha of Rajapalayam... ‘Hero’ rides into the sunset Samskrt loses a passionate exponent... A versatile legend moves on Cement, calcium carbide, shipping… TSN turned these and more into gold He took space science to such great heights! Question on Operation X KB Sir for all... A Gandhian breathes his last on Gandhi Jayanthi Remembering Chariji
He elevated B&C to its best...
In the late 1970s and 1980s, Kumar rode the management scene of the south like a colossus.

The brilliant Chartered Accountant was a prized manager who worked for the multinational Pierce Leslie Co Ltd, a renowned British company that was doing flourishing business in plantations, shipping, textiles, cashew processing... He joined Shaw Wallace and rose to the position of CEO and non-executive chairman. He reached the pinnacle of his career as the Executive Chairman and Chief Executive of Best & Crompton Engineering Ltd. 

Founded in the 1870s, B&C grew through mergers and acquisitions. It went for a public issue in 1978 but could not get  it fully subscribed. The financial institutions under wrote the shortfall, that made it a sitting duck for a raider like Mallya to acquire control. In just a decade from 1978 revenues grew five’fold and profits seven’fold! Under his tenure, Best & Crompton recorded multi-faceted growth. He embarked on a large number of collaborations with reputed multinationals. Beacon Kone, Beacon Rotork Controls, Beacon Weir, Krest Development and Leasing and over a dozen such subsidiaries and associated companies were founded and were reputed for the quality and service of their products. 

The company also set up joint ventures in Malaysia, Nigeria and Saudi Arabia. 


Forged relations with Australia, Finland...

Kumar was the first to forge a prized collaboration with Finland’s Kone Corporation, the European leader in elevators and escalators, for manufacturing in Chennai.  His financial genius was helpful in accessing funding from the Finnish Fund as an equity partner. 

Best & Crompton flourished in that period as a renowned engineering company engaged in a wide range of manufacturing and engineering construction activities. He lent his expertise as the President of Indian Society for Training & Development, President, Madras Chamber of Commerce & Industry and later President, ASSOCHAM and Founder-President of Indo-Australian Chamber of Commerce, which was unique as a bilateral apex chamber having its headquarters in Chennai.

The brilliant business leader trained, groomed and mentored a number of young executives to rise to coveted managerial positions. The rapid expansion of the company by forging new collaborations helped in the quick ascent of managers across the group. 

Best & Crompton was financially starved and was heavily dependent on support from financial institutions. Vijay Mallya, with his booming liquor business, went on a mad spree of acquisitions and one of the victims was Best & Crompton. I remember the poignancy with which Kumar referred to this: “in that era of flourishing  liquor business, all that was needed for a liquor baron was to dedicate one of his distillery’s income for acquiring even a large, well-established, century plus old company like Best & Crompton.” Best & Crompton, which he took to great heights, suffered like many other acquisitions of Mallya’s. 

At a time when Chennai was dominated by family-owned businesses, Kumar provided an exception of a managerially strong, professionally managed company which reached great heights under his leadership and enjoyed the reputation of a L&T ECC!

It took Mallya less than a mere five years to strip B&C’s assets to the bone, default on bank loans (how callously banks refused to learn lending lavishly to Kingfisher  Airlines!) and to sell the company.

IE pays its homage to Kumar and sends its condolences to his family and that of his illustrious brother M K Narayanan, former Governor of West Bengal. 

Author :
Reported On :
Sector :
Shoulder :
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
S-15, Industrial Estate,
Chennai - 600 032.
PHONE: +91 44 22501236