Some things are not meant to be forgotten.
Especially if it is your company. Dilip Shanghvi, founder of Sun Pharmaceuticals, definitely does not forget.
In the 90s, Sun Pharmaceuticals was a rising star. Other pharmaceutical majors Ranbaxy and Dr Reddy's looked at its growth with interest.
At that time, Dr Parvinder Singh, the promoter of India's largest pharma company Ranbaxy Laboratories saw a young Shanghvi astutely steer Sun Pharma and decided to invest in it.
The personal investment became a creeping acquisition. Promoters keep a close eye on single investors and when Shanghvi realised that Singh was raising his stake slowly in his company, he flew in and met Singh.
Looking at the young man, Singh saw ambition and desperation of losing his company. Honouring the young man, Singh is said to have sold back the shares. At a premium though.
The irony is: Sun bought over Ranbaxy almost 30 years later. Shanghvi did not forget though.
He removed the Ranbaxy name from every single building. The brand has been practically extinguished now.
The luxurious office of Ranbaxy in Gurgaon is being put up for rent.
Seems like revenge tastes sweet.
Something similar took place when the Singh brothers began a creeping acquisition of Parkways in Singapore and Khazanah, a sovereign wealth fund of Malaisia, was caught blindsided. Khazanah fought back. The brothers eventually sold back the shares to Khazanah. Now, IHH, where Khazanah holds majority, has bought Fortis Healthcare, the hospitals chain.
The 'Fortis' name may not be seen on the hospitals as well.