High and dry

The private equity arm of a leading brokerage held an event in Mumbai to celebrate "the spirit of entrepreneurship". The brokerage invited a host of market participants, media, investment bankers and lawyers to listen to stories from successful start-ups they had invested in. The exchange was to be followed by cocktail and dinner. An official of the brokerage announced at the last minute that only mocktails would be served as it was a Dry Day. Disappointment roiled among the guests. One wondered aloud, "What is left of entrepreneurship when you've dropped the 'spirit'."