Hubris. That's, perhaps, one word which describes the reason for the downfall of Subrata Roy's Sahara empire best. As head of the group, Roy didn't want to be called Chairman. So his fawning lackeys came up with "Saharashri".
The 66-year-old head of the Sahara India Group, who has been languishing in the Tihar jail for almost nine months now, is known for running his organisation on whims and fancies, entirely regardless of the rules of real-time business.
Those who know him up close say he wanted to be an iconoclast among industrialists, setting up a novel business model of his own, but ended up reducing to rubble a group which could have made its mark globally.
Saharashri's imperial – or rather imperious – manner of functioning is seen as primarily responsible for the pitiable state in which the group finds itself in today. For the last three months, employees have not been getting salaries. The mood within the organisation is grim as lakhs of Saharians face a bleak and uncertain future. "We don't know what to do, whether to wait and watch or leave?" said a frustrated employee.
This correspondent spoke to Abhijit Sarkar, head of Sahara Corp Comm, who promised to answer queries mailed to him. But despite persistent follow-up, there was no response.
It was Roy's conceit which landed him in Tihar. For over a year and a half, he treated the repeated summons from the Supreme Court lightly, complacent that his money and contacts could manage and manipulate anything and everything.
Roy's now-sad saga is one of nepotism, cronyism and incompetence. Saharashri loved to see people lining up to touch his feet. He entrusted top jobs to relatives and friends, unmindful of their competence or lack of it.
He bred unprofessionalism, rewarding sycophants while sacking many with merit just because they did not wish a senior with a kowtowing "Sahara Pranam".
Even senior journalists were sent out to distribute cards for Sahara programmes – even for family functions – to VIPs personally. They were supposed to stand at the gate and welcome guests on the occasion in the black-and-white official dress, complete with a Sahara tie. It was this gross unprofessionalism which forced top journalists to leave the Sahara news channels.
"I don't know how Sahara survived all these years," wonders a CA familiar with the group's functioning. "They don't produce, trade or sell anything. The only promising venture they had was Sahara Airlines, which had to be sold due to their trademark unprofessional working," he added.
Insiders say Sahara has thrived on the loads of murky funds parked by corrupt politicians and bureaucrats. Today, those politicos and babus have withdrawn, and Roy finds himself alone as the Sahara ship goes rudderless.
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