The family that owns India’s most widely read daily is facing internal strife. At stake is the very stability of the legacy publisher.
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Uday Kotak says heirs are choosing to manage family money rather than run real businesses. This lament doesn’t stand scrutiny.
So far it seems unlikely that the billionaire’s two children are interested in the business. The lack of a clear succession plan brings even greater urgency to Vedanta’s restructuring exercise.
Appointing the three children to Reliance’s board is all very well, but deciding on a successor to Mukesh Ambani won’t be easy as the group’s key businesses are in different stages of growth.