FRAUDS, BANKRUPTCY, CSR, CORPORATE GOVERNANCE AND SPIRITUALITY

COMPANIES WENT UNDER BANKRUPTCY IN LAST TWO YEARS

1. Dewan Housing Finance Ltd. – US$13.93 billion
2. Bhushan Power and Steel – US$6.9 billion
3. Essar Steel- US$6.9 billion
4. Lanco Infra – US$ 6.3 billion
5. Bhushan Steel -US$6.2 billion
6. Reliance Communications – US$4.6 billion
7. Alok Industries – US$4.1 billion
8. Jet Airways – US$2 billion

We have noticed the above corporates indulged in irregularities in managing their affairs and consequently faced bankruptcy.

“Carthage (an ancient city in North Africa ) fell because it had become a place where nothing that leads to profit is considered as disgraceful “–Greek Historian -Polybius.

” Business Ethics is inversely proportional to business cycle . It deteriorates during boom period & improves during recession.

TRUSTEESHIP THEORY OF  M K GANDHI —-derives its inspiration from the philosophy of Bhagavad Gita.The whole life of Mahatma Gandhi ,in fact,  is inspired from Bhagavad Gita. The Gandhian model of Trusteeship is an interesting and innovative model of running the business organisations.

Once while addressing the mill owners of Ahmedabad, Gandhi said -” what I expect of you is that you should hold all your riches as a trust to be used solely in the interest of those who sweat for you”.

It appears after observing various Frauds , Scams , Conflicts , Unrest  etc  in India that  all great men and scriptures like Bhagavad Gita,  Mahatma Gandhi &  Gautama Buddha failed in India in their endeavour  to promote the Spirituality & Well-Being in the society.

Vijayash  Foundation will continuously make its efforts to spread  the Spiritual wisdom of above Spiritual Leaders & Scriptures. It appears that we have not understood our scriptures in true spirit ,otherwise we would not have those frauds, scams, unrests , suicides  & unhappiness in the society.

“ALL THE BEST”

Team
Vijayash Foundation- A Learning  and Development Organization