Business Ethics

Read about a true story as to how business was done based on shear trust and honesty in the old days (around 1830- 1840). This story involved the famous Nagar seth of Ahmedavad, Seth Himabhai and Nagar Seth of Jetpur, Seth Nabherambhai Kamdar. Seth Himabhai had honored a hundi of one lakh 50 thousand rupees from Seth Narbherambhai without having personally known him. At present value, it could be equivalent to 300 to 400 crore rupees.

The special bond that Seth Himabhai and Seth Narbherambhai left, was revived unknowingly in 1970 at Atul’s Factory in Valsad (Gujarat). That story goes a little something like this. Niranjan Mehta, the great grandson of Narbheram Seth, was the captain of the Gujarat Cricket team. The host of the match was the local industrialist, Seth Siddarth Kasturbhai Lalbhai. Before the match day, Seth Siddarth’s son, Sunil (age 10) was stricken with typhoid. As a great fan of cricket, he wanted to meet, Gujarat’s captain, Niranjan Mehta and Maharashtra’s captain Chandu Borde. His father, Seth Siddarth, invited Borde and Niranjan Mehta to his home, without him knowing that this Niranjan Mehta is the great grandson of Seth Narbheram (see the picture on the right). This is the same Seth Narbheram that Seth Himabhai visited in 1830 in Jetpur. To these great business families were able to maintain contact by forces unknown. Both families have the longest family recorded history in the world.