A Look Back: Analjit Singh's Future-Proof Strategy

WHY WE DID THE STORY: Analjit Singh is an entrepreneur of repute. He was born into the Indian pharmaceutical industry’s first family, which controlled Ranbaxy. But division of assets in 1990 led to a family break-up. Until now, both halves of Singh’s life were seen separately. In reality though, both are intertwined. As we found out, the past was always on his mind as he built his Rs. 7,250 crore Max India Group. He wanted to make sure that history didn’t repeat itself in his own family. Singh set in place a new corporate governance model at Max India, making it clear that its interests should never conflict with those of his three children. He set up trusts to manage his personal wealth to ensure that the next generation doesn’t have to go to court to settle family matters.
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WHERE THE STORY STANDS: More than 10 years after its relaunch, Max India Group has just turned in its first profitable year. The life insurance business has turned profitable on its own. The health care business is for the first time venturing out of the National Capital Region. The strengthened boards of Max India and its subsidiaries have played a key role. On the family front, the trusts are well-placed to manage Singh’s wealth. His eldest daughter Piya is working in Max Healthcare as part of his ‘promoter grooming’ plans. Son Veer is shaping Singh’s hospitality plans and the youngest, Tara, is heading what would turn out to be India’s first senior-living project. And Singh? He is in the thick of action, buying up stake in EIH and increasing his share in Vodafone.