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Should UPL Shareholders worry about Black Magic?

Running a business in India is no easy task.Along with the typical risks,Indian businesses run risks that appear very unique to them.

Take for example,the risk faced by shareholders of United Phosphorus Ltd (UPL).

Their CEO Jaidev Shroff is widely respected in the industry with Sunil Singhania of Reliance Mutual Fund once calling him “The Best CEO he has ever met”

Now it appears that this fine fellow is a victim of Black Magic !:

Jaidev had earlier filed an FIR at the Khar police station, saying that his wife Poonam had spiked his drink with a mysterious powder concoction on the advice of a ‘Bengali baba’. The said drink had then left him drowsy and disoriented, he said.

Earlier this week, Poonam had filed an anticipatory bail application (ABA) in the sessions court, following Jaideep’s FIR. Police had arrested the ‘Bengali baba’, Gulam Moin Shattir Hakim Sufi, after he confessed to the crime during questioning.

On April 16, Jaidev also submitted a CD to police, in which Poonam is allegedly heard talking to the ‘Bengali baba’. The transcript mentions conversations like, “Maine unke paani ke andar dal diya thoda,” (I have added some of it in his water) and another instance where she mentions making banana juice for Jaidev, from which he took a sip.-from Mumbai Mirror

Maybe the IIMs should make Hanuman Chalisa a mandatory course requirement for MBA students !

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