The next 10 years are going to be very important for the Indian corporate world. The reason for this is the generation change in most of the business houses. But there is a business family worth Rs 32,000 crore which does not have any heir of its own. Who will handle the business now?
There have been many businessmen in India, but there have been only a few business women. One of these names is that of Kiran Mazumdar Shaw, who started 'Biocon' company 45 years ago, which as of today has a value of Rs 32,000 crore. But now nothing can be said about what will happen to this business, because Kiran Mazumdar Shaw has no children.
It is a big problem for many business houses in India that they do not have any heir to manage their billion dollar empire. Kiran Mazumdar Shaw's name is also included in these. In October last year, her husband John Shaw died at the age of 73. Kiran is also 70 years old now.
Biocon started with just Rs 10,000
Kiran Mazumdar Shaw started Biocon in 1978 with an investment of just Rs 10,000. This was the first company in the country which started exporting enzymes to America and Europe. Even today, it is one of the largest generic API (formula used in making medicines) companies in the country.
In the hustle and bustle of her career, Kiran Mazumdar-Shaw did not even get time to love. She got married to Uzon Shaw in 1998. The love story between the two is also quite special. John Shaw and Kiran Mazumdar first met around 1990. John worked in a European company. During their meeting in Bengaluru, both of them realized that they had a lot in common. Later, John was called back to Europe by his company, but he started missing Kiran. He took early retirement to marry Kiran.
Kiran Mazumdar-Shaw does not have any children, but till now no such discussion has been done from her side in which it has been made clear who will be her successor. However, market watchers believe that in such a situation, Biocon can hand over the command of the business to professionals, or Kiran Mazumdar can take charge of the company from outside like Ratan Tata by forming a Shaw Trust.
There is no question about the heir.
Kiran Mazumdar-Shaw does not have any children, but till now no such discussion has been done from her side in which it has been made clear who will be her successor. However, market watchers believe that in such a situation, Biocon can hand over the command of the business to professionals, or Kiran Mazumdar can take charge of the company from outside like Ratan Tata by forming a Shaw Trust.
Cipla is selling business
Like Biocon, Cipla is another company related to the pharma sector of the country, which is now being sold. The reason for this is that the heirs of Cipla Chairman Yusuf Hameed have no interest in handling the business. Cipla is a company that has contributed significantly in making India the generic drug capital of the world.
When the businesswoman handed over the business to the CA
There is also a story of Birla family among the business houses of the country. Business woman Priyamvada Devi Birla had no children. Therefore he had handed over all his assets to his chartered account. MP Birla Group was also involved in this. This case of Priyamvada Devi Birla's will had also made a lot of headlines in the media.
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