BIZ-GN BAJPAI

Former Sebi and LIC chairman GN

Bajpai Thursday called upon India Inc to adopt a flexible

capital structure to enable themselves to tap the gold mine of

opportunities that the country offers.

He also urged captains of industry to adopt a new

ownership structure, which should have a longer term

perspective wherein the focus should be customers.

He said when a company has a flexible capital

structure, it will not be interested in investing in companies

but interested only in a project of a company.

India Inc need to adopt a new ownership model with

longer-term perspective. They also need to have a lot of

flexible capital structure," Bajpai who served the markets

watchdog Sebi during 2002-05 said.

He was appointed Sebi chief when he was heading the

national insurer LIC as chairman in 2002.

He further said the country is sitting on a gold mine

of opportunities and to exploit it there is a need to have a

different set of tools and mindset.

India Inc is sitting on a gold mine of opportunities.

But for being able to dig the value of it, you have to have a

different set of tools, techniques and mindset. If you have

that, you will have a good future, Bajpai said at an event

organised by the Institute of Company Secretaries.

Noting that there is a war between asset and

ecosystem, Bajapi, who recently resigned from the IL&FS board

within a month of appointment in October last said, companies

which used to be number one in valuation, are not there today.

It is those organizations that are able to create an ecosystem

with scale that are progressing.