Buzz: Why a billionaire family moved home to Gujarat | Economic Times

ET’s weekly roundup of the wackiest whispers and murmurs in corporate corridors & policy parlours.Driving In & OutEveryone was surprised when his name was announced in the first place to steer one of India’s largest auto businesses, especially because of his long-standing and rather public disdain for operations. So tongues are wagging ever since the news broke late last week that this high-profile expat CEO will not be joining after all. Theories abound – from developing cold feet at the last minute over relocation plans to the intervention of the group patriarch — though it’s unlikely his name was not cleared beforehand. Perhaps disagreements with the chairman over deliverables became a spoke in the wheel.Change of AddressSecurity of loved ones comes first for anyone. And when there is a potential life threat, that becomes headline news for all the wrong reasons. So everyone has been wondering how India’s billionaire first family has been coping of late. The pandemic saw them all over Europe for most of last year and now we reliably learn the entire family has moved to coastal Gujarat, home to key business operations. The facility and the adjoining township have the highest security protocol, so safety should not be a concern there.Law & BeholdSwitching counsel amid trying times is a bit like switching horses in mid-battle. One of New Delhi’s once-fabled, now infamous, business families however chose to do just that last week. They went and got bail from a lower court even as the matter was pending in the Supreme Court. This thanks to a new, overzealous counsel they’d opted to use. What they didn’t realize was that the apex court was absolutely not amused and they have been asked to surrender in court today. Irrespective of how it plays out, this is one switchover that hasn’t gone too well.Boardroom BraveheartsThe cash cow of the country’s largest conglomerate is tackling a new challenge. The senior leadership had assumed the pandemic was under check and sought to have a physical board meet in the same week that also had another big event associated with a bank. And then all hell broke loose, we hear. The company secretary tested positive for Covid-19, following which the entire leadership team now has gone into quarantine. Remember, just a few weeks back we had reported in this column that another division of this trusted group faced the rap for organising a team meeting that did not go as planned. So now, everyone within the organisation is wondering why throw caution to the winds, especially when cases are rising?Colourful BeginningsWith two of the country’s top conglomerates making a big play in the paints business, top talent from incumbents are being wooed quite aggressively. A little bird tells us a former MD and a current CEO of this storied firm that often hits the headlines for the misadventures of gen next, is hot on the radar of these companies seeking out industry leaders to make a big splash from the beginning. This corporate manhunt will almost certainly paint the town red.Jab Tak Hain JaanTalking of Covid, we finally came across a top honcho who has decided to avoid getting vaccinated even when his family members, all big shots themselves, have gone ahead and taken the jab. He’s fit as a race horse and heavily into yoga, so we somewhat understood his PoV when he said he would rather build his own immunity. But even then the candour did take us by surprise, much like his views on life and business.Pax BritannicaThe billionaire boys club is rolling out the red carpet for Eddie Lister, the special envoy and strategic adviser of the UK Prime Minister, as he arrives in India this weekend to prep for next month’s visit — the first big overseas trip by Boris Johnson after Brexit — that may even see a trade pact getting signed. We hear after a soiree at telecom tycoon Sunil Mittal’s house, where several fat cats are also invited, a trip to Pune to meet the Poonawallas is on the cards as is a meeting with Tata Group chairman N Chandrasekaran. From vaccines to satellites to steel and cars, the Indo-UK business connect runs deep, much like Tory funders such as London-based investment banker Anshuman Mishra.