When the spiritual and the material combine

Godmen, like Russian oligarchs, have a cathartic effect on sound lending principles and sustainable enterprise building

Practitioners of corporate governance get challenged when the spiritual and the material combine. One is faith-based, and the other is wealth-based. Spiritual and material tend to conflict even though everyone loves God, money, politics, and sex! No wonder, then, that godmen have several books written about them—Khushwant Singh (2003), Bhavdeep Kang (2016) and Priyanka Pathak Narain (2017).

Ruchi Soya Industries Ltd (RSIL) recently raised equity. When RSIL started in the 1980s, I had just completed a feasibility study on soya. Subsequently, RSIL became insolvent. In 2017, it was acquired by associates of yoga guru, Baba Ramdev. In India, yoga and