Business History, Growth of Influence and Wealth
In 1998, Janardhana Reddy's finance company, Ennoble India Savings, collapsed, leaving unpaid debts of over Rs. 200 crores. However, by 2008, he and his wife declared assets of Rs. 115 crores. The Reddy brothers obtained their first lease for an iron mine in 2004 when the Indian National Congress party led the government in Karnataka state. Since then, their rise has been meteoric, driven by soaring commodity prices, primarily due to demand for iron ore from China.
Read more about this topic: G. Janardhana Reddy
Famous quotes containing the words business, growth, influence and/or wealth:
“In the United States all business not transacted over the telephone is accomplished in conjunction with alcohol or food, often under conditions of advanced intoxication. This is a fact of the utmost importance for the visitor of limited funds ... for it means that the most expensive restaurants are, with rare exceptions, the worst.”
—John Kenneth Galbraith (b. 1908)
“Rights! There are no rights whatever without corresponding duties. Look at the history of the growth of our constitution, and you will see that our ancestors never upon any occasion stated, as a ground for claiming any of their privileges, an abstract right inherent in themselves; you will nowhere in our parliamentary records find the miserable sophism of the Rights of Man.”
—Samuel Taylor Coleridge (1772–1834)
“It behooves every man to see that his influence is on the side of justice, and let the courts make their own characters.”
—Henry David Thoreau (1817–1862)
“Rich are the sea-gods:Mwho gives gifts but they?
They grope the sea for pearls, but more than pearls:
They pluck Force thence, and give it to the wise.
Every wave is wealth to Daedalus,
Wealth to the cunning artist who can work
This matchless strength. Where shall he find, O waves!
A load your Atlas shoulders cannot lift?”
—Ralph Waldo Emerson (1803–1882)