How AM Naik saved L&T from takeover try by Ambani and Birla group with out shedding them as clients – Occasions of India

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Anil Manibhai Naik’s journey with L&T started in 1965 as a junior engineer and he steadily climbed the company ladder, finally turning into the chairman emeritus in 2023. Final September, he handed over the reins of this engineering-to-IT-to-financial providers behemoth. to SN Subrahmanyan. However, do you know that at one time birla group and the Ambani group wished to take over Larsen & Toubro?
Throughout his tenure, Anil Naik confronted challenges from fellow Gujarati businessmen. Kumar Mangalam Birla and Dhirubhai Ambani, who tried to take over L&T.Defending L&T in opposition to these takeover makes an attempt was a troublesome process. “On one hand I had a job to play to avoid wasting L&T. However, I additionally had a job to not lose them as our clients,” Naik advised ET in an interplay. He did not lose both – Naik efficiently protected the corporate whereas additionally sustaining good relations with the Reliance Group and Birla, who stay valued shoppers of L&T.
Anil Naik’s administration type was characterised by being robust but respectful. Regardless of the conflicts within the L&T boardroom, he by no means misplaced his cool and all the time remained light together with his opponents. This method not solely helped him navigate troublesome conditions, but it surely additionally strengthened his relationships with business leaders like Mukesh AmbaniKumar Birla, and others.
“It is all about being robust but being respectful. In 2003, Mr Birla and I lastly shook arms. He bought up from his seat and so did I,” he was quoted as saying. “Be it Mukesh Ambani or his father or Kumar Birla, I by no means misplaced my cool,” he stated. “In truth I used to be light with them even once I was combating them within the L&T boardroom for over two years. “Every considered one of us had been doing our jobs.”
Just lately, L&T obtained a outstanding single order value Rs 25,000 crore from Saudi Aramco, the world’s largest oil producer, to assemble a refinery in Saudi Arabia. Anil Naik, who obtained the Financial Occasions Award for Lifetime Achievement, expressed his pleasure on this achievement. L&T’s success extends past Saudi Arabia. The corporate has additionally secured a petrochemical order value Rs 10,000 crore in neighboring Qatar.
In 1993, AM Naik made a strategic determination for Larsen & Toubro (L&T) to develop its choices by including an Engineering, Venture development, procurement, and Development vertical. This transfer proved to achieve success as inside 4 years, L&T certified for seven out of the twelve clear gasoline tenders it had utilized for.
Over the previous 58 years, Anil Naik has performed a pivotal position in reworking L&T into a real Indian multinational company. The corporate’s tasks span throughout international locations like UAE, Kuwait, Netherlands, Algeria, and the UK.



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2024-03-13 07:00:38
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