Kamalnayan Bajaj - page 67

KamalnayanBajaj –Architect of theBajajGroup
billets.Nearly 150SME in theGreater Bombay area
and theThanaBelapur belt benefited fromMukand’s
training programs. It was eager to launch an industrial
project under the government’s joint sector policy. And
it wanted tobuild a sponge ironplant.
Back in 1950, thesewere not evenpie-in-the-sky dreams.
Kamalnayan, Viren andRameshwarprasadwere
still shell-shocked.Once they hadpicked themselves
up, they swiftly drewup an actionplan and allocated
responsibilities. Rameshwarprasad obtained a loan
ofRs. 22 lakh fromLalaShri Ram, now chairman
of the newly formed Industrial FinanceCorporation.
Kamalnayan found a plot atKurla for anewplant.
Virenbought a second-handbulldozer toprepare the
land for the new factory andbecame the construction
supervisor, living in a thatchedhut on the site.
AllahabadBank’s Scottishbanker chipped inwith a
Rs. 36 lakh overdraft facility.When anold customer,
AssociatedCement (ACC) contemplated establishing
its own foundry instead of buying fromMukand, the
triowent in all guns blazing topersuadeACC’s
management otherwise.
Thesewere harddays but like the proverbial phoenix,
Mukand rose tobecome a leader in its field. It was an
early adopter ofmodernmanagement practices, thirsty
for new technologies forwhich it entered into technical
collaborationswith internationalmajors, and invested
heavily indeveloping its human resources.
KamalnayanwithMukand’s foreigncollaboratorsat thecorporateoffice
at Fountain, Bombay.Mukand’smanagerswerequick learners. By the
1970s,MukandwashelpingotherAsiancountries tobuild steel plants.
In thequest tobring thebestmanagement talent intoMukand, professors
wereencouraged tovisit andvet theplants. In thispicture, Kamalnayan
andVirenShahdiscussplans for growthwithHarvardBusinessSchool
ProfessorsMiltonPBrownand JamesRBright, January1963.
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