Monday, July 09, 2007

You heard me, Mr.Sarin

Has it been a few hours since my last post cautioning Arun Sarin...? It seems he's heard me. Well, I won’t pretend modesty because that’ll be very unlike me. I had timed my hunch very well and might as well take some credit…

Never mind...the message has hit home. Arun Sarin of Vodafone has now come out with a retraction in response to a fuming B.K.Chaturvedi, the then Cabinet Secretary, who denies having been approached by any business house. Chaturvedi said, "India is no Banana Republic that we can give approvals in one day; it takes time and even if there were vested interests trying to scuttle the deal, what is the big issue. It happens everywhere; it is fine as long as we deal with it the right way, which is what we did."

In a subsequent message, Sarin has attempted some damage control by reasoning that his statement was directed not at *regulators* but at *vested interests*. The Anil Ambani Group, the Hindujas, Maxis of Malaysia and Essar had shown interest in the Hutch stake.

It’s o.k, Mr.Sarin… Common sense very often is one of the first casualties for rock star CEOs. And you are way up there…take care…!

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