Noted industrialist and founder of the RPG Group Rama Prasad Goenka passed away at his residence on Sunday morning. He was 83.

One of the earliest takeover artists of the Indian industry, Goenka is survived by his wife Sushila Devi, and two sons Harsh (Chairman of RPG Enterprises) and Sanjiv (Chairman of RP-Sanjiv Goenka Group).

He has been unwell for nearly a year now. He made his last public appearance at a lifestyle event, organised by his daughter-in-law Preeti in December 2012.

As part of the succession plan, the nearly Rs 25,000-crore business empire was divided between Harsh and Sanjiv in 2011.

RPG made a humble opening for RPG Enterprises in 1979 with largely inherited companies — Phillips Carbon Black, Asian Cables, Agarpara Jute Mill and Murphy India.

The next decade, however, saw his enterprise come to the fore. A flurry of acquisitions (mostly once British-owned companies) got him the epithet ‘takeover tycoon’, then unique in India,

He first picked up Ceat Tyres of India in 1981, followed by KEC in 1982, Searle India (now RPG Life Sciences) in 1983, Dunlop in 1984 and Gramophone Company of India Ltd (now Saregama India) in 1986.

In 1989, Goenka took control over four more — CESC, Harrisons Malayalam, Spencer & Co, and ICIM.

Harvard-educated and soft-spoken RPG had learnt the art of persuasion early. That worked wonders for him in expanding his empire.

Not all his takeover bids were successful, though. Many of the companies he acquired either became defunct or did not stay in his stable. Nevertheless, he created quite a few chapters in the history of Indian business.

He was particularly touchy about his “done deal” but “never carried through” acquisition of Bombay Dyeing. Goenka had reportedly signed a deal (assisted by law firm Mulla and Mulla) with Neville Wadia for Bombay Dyeing buy-out.

This die-hard Calcuttan and Presidency College alumni was a member of Rajya Sabha, and once a president of FICCI and Chairman of the Board of Governors of IIT Kharagpur.

He also served as a trustee of the Jawaharlal Nehru Memorial Fund, the Indira Gandhi Memorial Trust and the Rajiv Gandhi Foundation.

Goenka was twice awarded the Order of the Sacred Treasure by the Emperor of Japan.

Till the end, he was the Chairman of CESC, his most prized catch.

Of RPG’s two brothers, one, Gouri Prasad Goenka, inherited Duncan Group of tea gardens, and the other, Jagdish Prasad Goenka, controls Oriental Carbon, Anglo India Jute Mills, Swan Mills, Woolcombers Ltd and Scharder Duncan.

jayanta.mallick@thehindu.co.in

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