The beginning
Ten years ago, Param’s father had retired as a Colonel in the Indian Army. A man of humble origins, Param’s father was extremely proud of the fact that he had provided for his family without ever compromising on his principles. He had three daughters and three sons. The three daughters had been married off to army officers and were well settled. Two of his sons had followed in his footsteps and were now commissioned officers. His youngest, Param, was the black sheep of the family, or as he liked to refer to him - that “civilian”.
Param had a very clear idea of what he wanted to do with his life. After completing his MBA from a prestigious institute, he would pick up a lucrative job in the corporate sector. His only memory of home was that there was never enough money for anything; he did not want to live like that.
But somehow, no matter how hard he tried, Param had a nagging feeling that nothing he did made his father proud. Not when he made it to the IIM; not when he purchased a four bedroom apartment in an upmarket locality in Bangalore; and not even after his recent promotion to CEO.
To add to that, much to Param’s chagrin, his parents continued to live in a tiny two bedroom flat in Pune. “This house and my pension are good enough for your mom and me,” Param’s father told his children.
Business Opportunity
The Board had recently approved his proposal to consider acquiring a major Mumbai-based company. This would make his company the biggest player in the highly fragmented Market Research Outsourcing (MRO) space.
The following weeks saw Param spend more time in Mumbai away from his wife and son. Once the due diligence process had been, he was ready to meet the Founder and CEO of the target company to make an offer.
They two of them met at the business centre of a five-star hotel.
After the exchange of initial pleasantries, Param got straight to the point, “By now, you would be aware of what your company is worth.”
“I think I have a fair idea. Why don’t you give me a number?” the other CEO replied.
“After doing the math, our best offer is ₹100 crores.” Param said.
The man sitting in front of him shook his head slightly, leaned forward and lowered his voice, “Param, I want you to listen carefully. What I will say next must not go out of this room. I hope you under stand?”
Param was not prepared for this. What was he up to?
“You have my word,” he said.
“Let me put it this way. You raise the offer to ₹130 crores and I will give you ₹15 crores out of that — that’s a lot of money you know. At that price, the value of the merged entity will only increase.”
Param could hear his heart thumping loudly.
After thinking for a while, he stood up, extended his hand, and said, “I will try selling that to the Board tomorrow.”
Later that evening he called his wife and promised her that all their dreams would soon come true.
That night, he didn't sleep a wink.
The next afternoon his Board approved the acquisition at ₹130 crores and the transaction was to be completed within a fortnight.
Every night since, sleep continued to elude Param.
His wife attributed the insomnia to his excitement.
Reality bites
A week later, out of the blue, Param received a call from his mother.
“Param, our land lord has served us a notice to vacate the flat. Your father is very worried though he will not show it.”
“Don’t worry mom. Could I speak to dad?”
Param heard his father’s voice: “Yes Param.”
“Mom just told me about the land lord, dad. Please don’t worry, I have just concluded a major deal and will be coming into a lot of money. I’ll buy you and Mum an apartment in Pune.”
“Param,” his father started gruffly, “Tell me, is that honest money?
“What’s your problem dad? You have put yourself on top of this mountain called ‘honesty’ and now are trying to live up to that. I am a businessman; I don’t have such hang ups.”
“Listen son, all my life I have never done anything that has made me fall in my own eyes. And every night, I have fallen asleep with a clear conscience. I don’t want to change that; not today, not ever.’
Param felt his rage rising. “You know what dad? I think you are honest only because, unlike others, you are too scared of the consequences if you get caught.”
Abruptly, his father disconnected the call.
Something snapped within Param. He realised that he had hurt his father like no one else had done before.
Soon after the fateful call, he called up the CEO of the Mumbai-based company and informed him that the deal was off; he would manage his board.
That night, his wife observed that after a long time, Param slept well.
At last, he felt like he lived up to his father’s expectations!