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An inside DLF story in 1975

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Government regulations always play a vital role in any sort of private business. The Indian magnet in realty DLF also is one of those who was about to close the shutters in seventies. With a short note with K P Singh – the DLF chairman, he reveals that he was about to make an end to all his construction line with DLF by shining in a form of share transaction. The sole decision was made on account of the Government rule for the real estate bidders who were suppose to get away from the urban location in 1970. Then in January 1975 he almost set his mind to quit all his shares from the DLF. However the decision was also influenced by his father-in-law and Singh was about to sign on a share transfer form which will yield him and his wife Indira with Rs 26 lakhs each along with the sister of his wife Indira who will be receiving a cheque of Rs 20 lakhs by selling her part of shares of DLF.
His father in law has almost closed all his dealings in DLF after the regulation came into implementation and same was asked to do for then DLF chairman as it was the family custom of obeying the elders in crucial situations. But there arose a twist in the climax when the chief financial advisor of the company Y S Tayal cautioned him about his step which will lead him away from the DLF circuit for ever. It was a mind changing statement by him who made him aware of his situation after he signs on the share transfer documents. Currently the DLF market value is estimated around Rs 35 363.57 crore of which 78.6 percent stake of the company is with the Singh and his family members. His challenging autobiography was released by the former CEO and chairman of GE – Jack Welch.
Source: NIMMA BENGALURU

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