Birth of Mica Kings
At that time, two simple, innocent and very young Mahuri Vaisya boys, hardly having any schooling and not directly related to each other, but having a common surname, (Bhadani) – one, Chhattu Ram Bhadani and the other, Horil Ram Bhadani joined hands with only 500 pieces of British India One Rupee Silver coins (about 5 kg of silver, present valuation 1000 USD or 50000 INR) and commenced building a mica mining and exporting venture. This business venture within a short span of 2 decades, from the period of the First World War (1914–1919), and the intervening period, till the Second World War (1939–1945) had emerged as a Business Empire, which, at a point of time, controlled, the largest share of mica mining and exporting activity in the World.
This growth attracted attention of the then-elite business circle of India. CH had properties all over India, i.e. Bombay, Kolkatta, Benaras, Otty, and Delhi, but surprisingly none exist today. Recently CH owned property in Cumbala Hills, Mumbai, which housed Belgium consulate has been disposed of for a whopping sum. That Business Empire, over a period of time, could not sustain growth as they were not successful in any other venture and declined on account of several factors, including downturn in the business cycle. But, the fact remains that such a business growth has remained a rare phenomenon in the economic history of Jharkhand state, India.
Later business was moved to government corporations sometime in 1973-74 through a government venture called as Bihar Mica Syndicate which was having Mica mines in Sapahi, 40 km from Jhumri Telaiya. This government venture was renamed to Bihar State Mineral Development corporation (BSMDC), which is now known as Jharkhand State Mineral Development corporation (JSMDC) (after the formation of a new state of Jharkhand).
Mica mining through government corporations went on well into the mid 1990s and slowly succumbed to lack of demand / political willpower and changing times.
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