The family way

Dynastic governance constrains India Inc

The succession of Roshni Nadar Malhotra as chairperson of HCL Technologies, replacing her father, Shiv Nadar, who turned 75, is another example of an Indian corporate tradition. The move attracted little comment because the practice of founder-owners passing the baton to their children is the old normal. This is the same reason no one found it unusual that Mukesh Ambani introduced his children at a Reliance Industries (RIL) annual general meeting. Family participation in management is taken so much for granted that it creates few ripples in the stock markets, which understand that such accessions do not really entail a