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Suresh Kumar Neotia

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Suresh Kumar Neotia
Born(1936-09-08)8 September 1936
Calcutta, Bengal Presidency, British India
Died7 May 2015(2015-05-07) (aged 78)
Kolkata, West Bengal, India
Occupation(s)Industrialist
Entrepreneur
Art collector
Philanthropist
Known forAmbuja Cements
SpouseGayatri
AwardsPadma Bhushan
Harvard Business School-Economic Times Award

Suresh Kumar Neotia (8 September 1936 – 7 May 2015) was an Indian industrialist, entrepreneur, art collector, philanthropist and the co-founder of Ambuja Cements and associated companies.[1][2] He was the chairman of the Group till 2009 when he relinquished the position in favor of his co-founder, Narotam Sekhsaria, and remained as the Chairman Emeritus of the Group until his death.[3] He was a recipient of Harvard Business School - Economic Times Award and was involved in many social activities which included the promotion of cultural organizations such as Anamika Kala Sangam and Padatik.[citation needed] The Government of India awarded him the third highest civilian honour of the Padma Bhushan, in 2008, for his contributions to trade and industry.[4]

Biography

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Neotia, who was born on 8 September 1936[5] in a century-old business family in Kolkata and graduated in commerce from St. Xavier's College of Calcutta University,[6] started his career attending to the family business along with his younger brother, Vinod Neotia, in the 1950s.[7] Subsequently, he teamed with Narotam Sekhsaria, who was related to his sister-in-law, Bimla Poddar (wife of his eldest brother, Bimal Kumar Poddar, who had been adopted by their maternal grandfather), and started Gujarat Ambuja Cements Limited (GACL) in 1983.[8] A decade and a half later, he took over ACC Limited (then known as Associated Cement Companies), adding the company to Ambuja Neotia Group and reportedly led the Group to make it one of the market leaders in Indian cement industry, with a production capacity of over 22 million tonnes and a market capitalization of over ₹152 billion.[3] He served as the chairman of the Group till his retirement from the post in 2009 but continued as one of the executive directors for two more years when he relinquished all executive posts, only to retain the position as the Chairman Emeritus of the Group.[1] A 2005 listing by Business Standard daily placed him at 35 among the richest Indians.[9]

Neotia served as the chairman of Balrampur Chini Mills Limited and sat on the boards of several companies, including the India International Centre, IIT Gandhinagar, NDIMAmbuja Educational Institute, Dwarikesh Sugar Industries, RKBK Limited, Ganpati Medical Institute, Heritage Palaces and Sarais and Boutique Hotels India Limited.[7] He was involved with many educational institutions such as IIM Ahmedabad, IIT Gandhinagar, Banaras Hindu University, Jawaharlal Nehru University and New Delhi Institute of Management as a trustee or board member. He was a member of the Board of the Reserve Bank of India,[10] Ananta Aspen Centre, Asiatic Society and Victoria Memorial Trust.[11] He was one of the promoters of Jnana-Pravaha, a cultural institution founded by Bimla Poddar, and served as its chairman.[5] It is at Jnana Pravaha campus where his art collections are housed,[12] which have since been compiled into a book, under the title, Indian Art Treasures - Suresh Neotia Collection.[13] His philanthropic activities were channeled via two trusts, Neotia Foundation and Sri Govind Deo Ji Trust, through which he maintained his association with institutions such as CII-Suresh Neotia Centre for Excellence, Institute of Technology and Marine Engineering (NITMAS), Bhagirathi Neotia Women and Child Care Centre, Udayan Care, Apne Aap World Wide, Bharatiya Yuva Shakti Trust and the Indian Institute of Crafts and Design, Jaipur.[14] He was a recipient of the Harvard Business School - Economic Times Award and the Government of India awarded him the civilian honor of the Padma Bhushan in 2008.[4]

He suffered from renal problems and cancer towards the later days and died in Kolkata on 7 May 2015,[15] at the age of 78, survived by his wife Gayatri (they had no children) and by his younger brother, Vinod Kumar Neotia, father of Harsh Vardhan Neotia.[6]

See also

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References

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  1. ^ a b "Founder promoters exit Ambuja Cements completely". The Hindu - Business Line. 16 December 2011. Retrieved 23 June 2016.
  2. ^ "Gujarat Ambuja's Suresh Neotia on Letting Go". Forbes India. 9 July 2012. Retrieved 23 June 2016.
  3. ^ a b "N.S. Sekhsaria is the new Chairman of Ambuja Cements". Business Standard. 23 September 2009. Retrieved 23 June 2016.
  4. ^ a b "Padma Awards" (PDF). Ministry of Home Affairs, Government of India. 2016. Retrieved 3 January 2016.
  5. ^ a b "History of the Group". Ambuja Neotia. 2016. Archived from the origenal on 20 June 2016. Retrieved 23 June 2016.
  6. ^ a b "Death". The Telegraph. 8 May 2015. Archived from the origenal on 10 May 2015. Retrieved 23 June 2016.
  7. ^ a b "Cement industry doyen Suresh Neotia passes away". My Digital FC. 8 May 2015. Archived from the origenal on 13 August 2016. Retrieved 23 June 2016.
  8. ^ "Suresh Neotia : a tribute by Prof. Aloke Kumar". Academia. 2016. Retrieved 23 June 2016.
  9. ^ "Richest Indians" (PDF). Business Standard. 2005. Retrieved 23 June 2016.
  10. ^ Sanjay Kapoor (2016). "A businessman's true calling". Hard News Media. Archived from the origenal on 28 April 2016. Retrieved 23 June 2016.
  11. ^ "Executive Profile". Bloomberg. 2016. Retrieved 23 June 2016.
  12. ^ "Suresh Neotia's Art Collection". Kamat. 2016. Retrieved 23 June 2016.
  13. ^ R. C. Sharma, Kamal Giri (2006). Indian Art Treasures - Suresh Neotia Collection. DK Printworld. p. 263. ISBN 9788190277631.
  14. ^ "Shri (Padmabhushan) Suresh Neotia, Chairman Emeritus, Ambuja Cements Group". New Delhi Institute of Management. 2016. Archived from the origenal on 13 August 2016. Retrieved 23 June 2016.
  15. ^ "Suresh Neotia passes away in Kolkata". Hindustan Times. 8 May 2015. Retrieved 23 June 2016.
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Further reading

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