Before the soft-spoken Gandhi walked into Bombay House to join Tata Sons as Executive Director in 2003, he was working with NM Raiji & Company, Chartered Accounts. He had joined NM Raiji as a partner way back in July 1969 and had risen to become a senior partner in 1993. His background in chartered accountancy has made him a great resource at the negotiating table. Says a Tata insider, "Given his wide experience and knowledge across sectors, he is able to quickly sense where things could go wrong. Even though he may not always be very familiar with the particular industry, he has a good feel for the way the business could shape up in the future." Executives who have worked with him on deals point out that Gandhi is meticulous when it comes to analysing the balance sheet and a whiz when it comes to taxation issues.
Born on the Ides of March, 1943, which makes him 65, Gandhi, who loves Italian food, takes the hectic travelling schedules in his stride. He doesn't mind working late into the night and even on Saturdays, if necessary. That must have had him in good stead during the Corus deal when the bidding continued late into the night with the ninth and last bid being put in just after midnight. The man himself talks little but after Corus was won, he said, "Our bid in the eighth round was such that the other party was in doubt about the final price we would be willing to pay and therefore, they were unable to outbid us in the ninth and final round." He likes to quote Warren Buffet. "Buffet says buy good businesses as fair prices and not fair businesses at good prices. I agree," Gandhi said in an interview after the Corus deal.
Bankers who have worked with Gandhi say they have rarely come across someone so unassuming, despite the position of power that he holds. "Whether it's a colleague or a banker, he never lets them feel uncomfortable, though he may be executive director of Tata Sons," says a senior banker. Gandhi is known to be tough, a man who stands his ground. Says a senior executive, "He may be extremely affable and friendly but when it comes to work, he is clear about what he wants and will not concede an inch." To cope with the stress, Gandhi meditates for a couple of hours every week. And he leaves little to chance. Apparently during the bid for Corus, which was done via email, Gandhi had a motorcyclist waiting. "That was in the event of the IT systems failing," he said in an interview. With that kind of planning, it's hard to go wrong.