Darbari passes away in London

Darbari passes away in London
ENS ECONOMIC BUREAU

MUMBAI, DECEMBER 8: Former Tata Chemicals Chairman and one of the oldest Tata satraps, Darbari S Seth, 79, passed away in London on Wednesday. Seth suffered a massive attack at 8.00 am (London time) when he was about to catch a flight to Mumbai. Seth had gone to London for treatment of cardiac problems.

Chairman Emeritus of Tata Chemicals and Chairman of the governing council of TERI (Tata Energy Research Institute), Seth had served the house of Tatas in various capacities for a period spanning over 50 years. He was also the former chairman of Rallis India, Tata Tea, Excel Industries and Tata Tetley and a director of Tata Sons. His son Manu Seth is currently Managing Director of Tata Chemicals.

Seth, the man behind the rise of two Tata group majors: Tata Chemicals and Tata Tea, continued on the board of Tata Sons, the group holding company, till March this year. Seth spearheded the Tata group's investment in several companies and areas. He was also responsible for the spectacular growth of Tata Chemicalsand Tata Tea in the last decade. He was also the force behind the turnaround of Excell Industries.

Along with the likes of Sumant Moolgaonkar of Telco and ACC, Russi Mody of Tata Steel and Ajit Kerkar of Indian Hotels, Seth completed JRD's inner circle responsible for spurring the group to greater heights since the 1960s.Reacting to the news, S A Sabavala, former Director of Tata Sons, and a close associate of Seth, said: "He was a very dynamic man and a great entrepreneur. Also one of India's finest chemical engineers who for the first time introduced the Solvay process in manufacturing of soda-ash. He was also very close to JRD Tata. As a person, he was very humane and lovable and will be badly missed by all." Eminent lawyer Dinesh Vyas, who has been associated with the Tata group and Seth over many years, said: "Darbari Seth was a man with great vision and practical insight in every facet of business. Seth was a financial wizard and had great expertise on legal issues. I have known Mr Seth for the last20 years and was often struck by his humility."

Russi Mody, former chairman of Tata Steel, said: "I am shocked to hear the news. We have worked together. He made a lot of contributions to the development of the Tata group of companies.''

Known to be one of the key advisers of JRD Tata, Seth left Tata Sons when new retirement norms were enforced in the group by the present chairman, Ratan Tata to make room for the next generation. He conceptualised and established the well-known Tata Energy Research Institute and was Chairman of the Teri Governing Council till his death. Teri described Seth as a man with a ``limitless vision''.

Seth had also bailed out the Tatas on more occasions than one. In 1988, when a rights offering of ACC was about to devolve, and the company facing the threat of Nusli Wadia taking over the cement major, Seth, through Tata Tea, Tata Chemicals and two investment subsidiaries, bailed out the issue. To this day, of the 14.3 per cent held by the Tata group in ACC, over 11 per cent isheld through Tata Chemicals.

A director of over 20 companies, Seth was the chairman of 14 companies and it is no coincidence that every one of the companies that Seth was associated with prospered and Seth came to be known in the business world as ``the man with midas touch''. Says small investor, R L Shah: ``Every company which Seth touched, the balance sheet bloomed and the companies recorded huge profits.'' In an exceptionally brilliant academic career, Seth won many laurels in schools and universities in India and abroad. Several of his academic records remain unbeaten.