Posted: 19 years ago
wow a discussion on corporate governance and ethics!!! what next ?s-ox?
Posted: 19 years ago

     I have said this before too and will again say it.Armaan started as a green graduate who had objectives as high as the sky to acheive.Right in the beginning of his tenure as a chairman he took some quick decisions aiming to catapult Gulmohar into acheiving unbeleiving figures.

     When things started going wrong he immediately took actions to put it back on track.Ethical measures? No.Do you know Mukesh Ambani too has several floating companies e~la Kohinoor which have been floated very cleverly and Anil didn't even have the wind of it? Raised millions from Bank of America without getting his name anywhere in the middle and then said Reliance Energy and it's chairman Anil who is also a board member of Relaince Industries has no power to question about it?You would call this ethical? 

       The only one decision Armaan did make right was choosing Jassi as his assistant and depending on her. He depended on Jassi and there was nothing wrong in it.She always gave him the right direction and did everything in her power to get solid contracts for GM.Be it a cut in the price,dealing in dollars or getting discounts by paying hard cash or overcoming a loss of contract by using bank loans and channelising them. To run a company is not only to decide what to do next,but also on whom to place your trust on.And you think he was wrong in trusting Jassi and her capabilities?

     Mukesh Ambani too relied as heavily on his classmate and childhood friend Anand Jain to run not only IPCL but have a say in every decision that Mukesh has ever taken,who is said to be the main person behind the rift between the two brothers.    Today Mukesh is said to be surrounded by men who are misguiding him.The whole family has gone against him and they side Anil but Mukesh cares a hoot. Prime example of power breeding corruption and greed and ethics and values be damned.This,against his own brother.

    On a very small scale if we look at Armaan and his way of handling the company,they were not good and overambitious.But whatever loss GM is facing is due to those very first few decisions Armaan took (specifically the one in which he decided to use cheap raw materials and the losses from that immediately set him back by at least an year)and which back fired.And unfortunately his sidekick Raj was busy giving him stupid advices which invoved  lissome legs more than the finances...But the measures he took were almost immediate and his never say die attitude is commendable.Any company takes some time to come out of any financial crunch.Kohinoor was his brainchild and it paid off handsomely.Had everything gone according to his plans,in another six months GM would be out of debt,Armaan would have overcome his first few wrong decisions and he would have learned his lesson.

    When he proposed Kohinoor,he saw Jassi as his lackey.He could not even dream that one day this very lackey would rise above every ambition that he nurtured when he became the chairman.And this is exactly where everything went terribly wrong.

    As they say,man proposes God disposes.Well,in this case,BLF writers disposes๐Ÿ˜†

  

Posted: 19 years ago
Originally posted by pj04


 

                                 on a different point of view......armaan is shamed and loses gm bcoz of his karam but pray tell me what was the fault of seths that they end up losing the company too(jassi has a complete contol over gm). jassi resigns after cooking up the numbers....everybody else is left to face the aftermath and clean up after her.ethically both armaan and jassi are responsible and should be punished equally.

   Serves them right for treating their employees like dirt and placing more onus on the face than the brains.After what Jassi has done to them and their odiously  despicable snobbish attitude,they will think 100 times before underestimating anyone and insulting and trampling upon the self respect on anyone they don't take their fancy to๐Ÿ˜ก.Had they maintained a good and friendly relation with Jassi and respected her capabilities,they would have been the first one to know what was happening after Jassi found out she was being played with.If I was at Jassi's place,I would have wished upon those insufferable obnoxious Seths a worse fate than this!!!!!

Posted: 19 years ago

[quote=moskvaa]wow a discussion on corporate governance and ethics!!! what next ?s-ox? [/quote]

๐Ÿ˜† Enron, Ambanis, Special purpose entities, earnings management - everything has been discussed so far...Throw in Martha Stewart and Sarbanes-Oxley as well and we will be transported directly to an auditing class.

Btw, a couple of questions:

1) Has Jassi has been manipulating the balance sheets and Income statements by booking Kohinoor's revenues for Gulmohar or are they showing Kohinoor as an Investor/Creditor????

2) what is the punishment for creating fake companies (like Kohinoor) in India? Is it a jail sentence or do the regulatory agencies like SEC closely scrutinize them?

 

Posted: 19 years ago
Thanks Minnie. Girl, you said it all. All Armaan did was
practice some unethical business practices and Jassi helped
him. They didn't kill anyone, they didin't carry out any terrorist
attacks. But you know, we do alot in the name of love. I do a lot
for my husband and I'll be damned if anyone condemns me for
it.

The Seths are quite intolerable...I would rather someone
practice some unethical business practices than someone treat
people as animals.
Posted: 19 years ago
ABSOLUTELY!!!!!!! ๐Ÿ‘

And may I add one thing here: Jassi may have been an outsider as far as family is concerned but there were compelling reasons not to trust anyone within the family.

Mallika - no!!! In the last episode, Mallika did ask him if he cudn't have trusted her instead of Jassi... and when Armaan asked her if she would have done as he said... her reply was anything but YES! He could never have controlled her - she's a much tougher cookie than Jassi. Plus, sooner or later family loyalty would come in the way. If Mallika felt she had good reason to come clean in front of Puru (considering she wudn't want to antagonize him, being the future bahu n all that) then she probably WOULD have. Besides, Aryan, his deadliest competitor would smell the blood and be after her like a shark. He might even have tried some devious means to get her to sign away the company to him. Could Armaan really have risked it!?!

As for Aryan... the reasons for not trusting him are obvious.. he was baying for the CEO's seat and all else be damned...

Jassi may have been an outsider but she had proved her worth both as a financial genius and as a confidante time and time again. There was no reason NOT to trust her. Besides, in business, you do have to take certain risky decisions that may or may not pay off. Armaan, being the brash arrogant young man he was, took the risk without anticipating failure. He had practically reached a dead end by then. Where would you have expected him to turn? How could this company-proud never-admit-defeat MBA suddenly turn around and tell his father he was a loser? This was the only option. That dosn't make it right, but then, very few things in business can be actually defined as right or wrong - it all depends how much you can get away with!!

As for Puru and the rest of the board members being forced to suffer.. I'm sure that's their past karma too ๐Ÿ˜‰ ... it's alwayyyyyyyyyyys karma๐Ÿ˜‰๐Ÿ˜‰

Posted: 19 years ago
very good questions Mysti...Well I am not good at numbers and accounts...that is the reason I opened this topic...

But gosh guys you all have so much of knowledge. Guess you are daily news readers... Minnie and Puja...I have to say you both have a great tendency and can establish good business with your knowledge.

I am looking forward for some answers mysti asked for too...


Posted: 19 years ago
Originally posted by Minnie


   Serves them right for treating their employees like dirt and placing more onus on the face than the brains.After what Jassi has done to them and their odiously  despicable snobbish attitude,they will think 100 times before underestimating anyone and insulting and trampling upon the self respect on anyone they don't take their fancy to๐Ÿ˜ก.Had they maintained a good and friendly relation with Jassi and respected her capabilities,they would have been the first one to know what was happening after Jassi found out she was being played with.If I was at Jassi's place,I would have wished upon those insufferable obnoxious Seths a worse fate than this!!!!!



Hey... I didn't notice that. But I did notice that they place 'family' in an entirely different category and 'outsiders' in another. They wanna kiss, love, marry, fight, everything within the family.


Posted: 19 years ago
Originally posted by queenbee




Hey... I didn't notice that. But I did notice that they place 'family' in an entirely different category and 'outsiders' in another. They wanna kiss, love, marry, fight, everything within the family.




lol Qb
Posted: 19 years ago

Serves them right for treating their employees like dirt and placing more onus on the face than the brains.After what Jassi has done to them and their odiously  despicable snobbish attitude,they will think 100 times before underestimating anyone and insulting and trampling upon the self respect on anyone they don't take their fancy to๐Ÿ˜ก.Had they maintained a good and friendly relation with Jassi and respected her capabilities,they would have been the first one to know what was happening after Jassi found out she was being played with.If I was at Jassi's place,I would have wished upon those insufferable obnoxious Seths a worse fate than this!!!!!

                  well i tend to disagree minnie....if acting high and mighty and placing more value to beauty is crime then everybody on this world is guilty of it including jassi. they treated jassi badly(though less than armaan and jassi let them do it...she could have walked away from the job) but that does not justify they way they were cheated out of thier inheritance by armaan. i know of very few bosses who play buddy with secretaries(has to do with maintaining chain of power), most of them treat thier secretaries like zombies on thier beck and call.my former boss would call up his sec at 4 am bcoz he had come up with a new idea....unfortunately it comes with the teritory ,like it or not.infact armaan would have done the same , had he not needed her talent at number crunching. let call a spade a spade and not justify all the wrongdoings by citing misbehaviour with jassi.

Edited by pj04 - 19 years ago


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