Ramkrishna Dalmia
Encyclopedia
Ramkrishna Dalmia was a pioneer industrialist and founder of the Dalmia-Jain Group. Starting with a bullion business, he built several sugar mills, and went on to acquire Bennett and Coleman, (the Times of India group). The name is also written Ram Kishan Dalmia.
At the time of India's independence, he was among the wealthiest and most powerful men in India, with good contacts with most political leaders. At one point his name was being considered for India's finance minister. However, in December 1956 the firebrand socialist Feroze Gandhi
exposed in parliament how Dalmia, as chairman of a publicly traded bank and an insurance company, had illegally transferred nearly a crore rupees to his mill in order to fund the Bennett and Coleman acquisition. In 1956 he was sentenced to two years in jail.
in Jhunjhunu district
of Rajasthan
, the Dalmia family shifted to Calcutta at an early age. His father died when he was only 18 years old, leaving behind no property. Ramkrishna had to support his mother, grandmother, wife and his younger brother Jaidayal Dalmia.
His maternal uncle, Motilal Jhunjhunwala, gave him a job in his bullion business, which enabled him to earn just enough to support his whole family. At one point, he started speculating on silver and following the advice of an astrologer, at one point he quickly made one lakh rupees. This was the beginning of what would soon become India’s third-largest business empire.
Beginning with a sugar factory in what is now known as Dalmianagar
in the state of Bihar, Dalmia went on to set up many industries with the assistance of his younger brother, the late Jaidayal Dalmia and his son-in-law, the late Sahu Shanti Prasad Jain
.
In the years leading up to Indian independence, Dalmia supported both Gandhi and Jinnah. Gandhi’s Civil Disobedience
movement, started in 1930 with the salt satyagraha, was, in fact, financed almost entirely by him, a fact to which national leaders like Dr. Rajendra Prasad and Shri Syed Hasan Imam alluded in the future.
Shortly before independence, the Dalmia empire was divided between himself, Jaidayal Dalmia, and son-in-law Shanti Prasad Jain, who had once been a tutor to his daughter Ruma. Later, when he was facing imprisonment and needed to repay 2.5 crores, he sold Bennett and Coleman to Shanti Prasad Jain to recover his monies.
Dalmia had contacts with persons in all walks of life. Among national leaders, he had direct contact with Gandhi, Jamuna Lal Bajaj, Sardar Patel, Rajendra Prasad and M.A. Jinnah. He set up cement factories in the kingdoms of Jind and Jaipur at the invitation of their ruling princes. However, he did not get along well with Nehru, who had once said of him: "He’s an ugly man with an ugly face and an ugly mind and an ugly heart. Just because he owns a few newspapers,
he claims to be an expert on foreign affairs.".
Dalmia was also a philanthropist and presided over a number of religious, educational and social conferences. He formed the Anti Cow-Slaughter League. He began a worldwide campaign promoting the idea of “One-World Government”.
who, was part of the ruling Congress party headed by his estranged father in law Jawaharlal Nehru. In December 1955, he raised the matter in parliament, documenting extensively the various fund transfers and intermediaries through which the acquisition had been financed. The case was investigated by the Vivian Bose Commission of Inquiry, and he was held liable for repaying Bharat Insurance nearly 2.5 crore Rupees.
He did not have this fund, and in the end he mortgaged Bennett and Coleman to his son-in-law to secure the money.
In the following court case, despite hiring the British attorney Sir Dinglefoot, he was sentenced to two years in jail. However, most of the jail term he was in hospital. Recent Supreme court records allege that he "was known for his generosity to jail authorities, and one doctor received a car as a gift.
Dalmia had eighteen children.
Dalmia died on the 26th of September 1978 at the age of 85 after a prolonged illness.
At the time of India's independence, he was among the wealthiest and most powerful men in India, with good contacts with most political leaders. At one point his name was being considered for India's finance minister. However, in December 1956 the firebrand socialist Feroze Gandhi
Feroze Gandhi
Feroze Jehangir Gandhi was an Indian politician and journalist, and publisher of the The National Herald and The Navjivan newspapers from Lucknow....
exposed in parliament how Dalmia, as chairman of a publicly traded bank and an insurance company, had illegally transferred nearly a crore rupees to his mill in order to fund the Bennett and Coleman acquisition. In 1956 he was sentenced to two years in jail.
Life
Born in relative poverty in the small village of ChirawaChirawa
Chirawa is a town in Jhunjhunu district of Rajasthan in India. It is part of Shekhawati region. It is known for fresco-painted havelis.-Geography:Chirawa is located at . It has an average elevation of...
in Jhunjhunu district
Jhunjhunu District
Jhunjhunu district or Jhunjhunun district is a district of the state of Rajasthan in western India. The town of Jhunjhunu is the district headquarters....
of Rajasthan
Rajasthan
Rājasthān the land of Rajasthanis, , is the largest state of the Republic of India by area. It is located in the northwest of India. It encompasses most of the area of the large, inhospitable Great Indian Desert , which has an edge paralleling the Sutlej-Indus river valley along its border with...
, the Dalmia family shifted to Calcutta at an early age. His father died when he was only 18 years old, leaving behind no property. Ramkrishna had to support his mother, grandmother, wife and his younger brother Jaidayal Dalmia.
His maternal uncle, Motilal Jhunjhunwala, gave him a job in his bullion business, which enabled him to earn just enough to support his whole family. At one point, he started speculating on silver and following the advice of an astrologer, at one point he quickly made one lakh rupees. This was the beginning of what would soon become India’s third-largest business empire.
Beginning with a sugar factory in what is now known as Dalmianagar
Dalmianagar
Dalmianagar is one of the oldest and biggest industrial towns in India. It is situated at Dehri-on-Sone on the banks of the Son River in Rohtas district of Bihar...
in the state of Bihar, Dalmia went on to set up many industries with the assistance of his younger brother, the late Jaidayal Dalmia and his son-in-law, the late Sahu Shanti Prasad Jain
Sahu Shanti Prasad Jain
Sahu Shanti Prasad Jain was among the most prominent Jains of the 20th century. He was a leading industrialist and philanthropist.He was born at Najibabad in Uttar Pradesh in the famous Sahu Jain family in 1911. His grandfather was Sahu Salekh Chand Jain who was involved in religious and charitable...
.
In the years leading up to Indian independence, Dalmia supported both Gandhi and Jinnah. Gandhi’s Civil Disobedience
Civil disobedience
Civil disobedience is the active, professed refusal to obey certain laws, demands, and commands of a government, or of an occupying international power. Civil disobedience is commonly, though not always, defined as being nonviolent resistance. It is one form of civil resistance...
movement, started in 1930 with the salt satyagraha, was, in fact, financed almost entirely by him, a fact to which national leaders like Dr. Rajendra Prasad and Shri Syed Hasan Imam alluded in the future.
Shortly before independence, the Dalmia empire was divided between himself, Jaidayal Dalmia, and son-in-law Shanti Prasad Jain, who had once been a tutor to his daughter Ruma. Later, when he was facing imprisonment and needed to repay 2.5 crores, he sold Bennett and Coleman to Shanti Prasad Jain to recover his monies.
Dalmia had contacts with persons in all walks of life. Among national leaders, he had direct contact with Gandhi, Jamuna Lal Bajaj, Sardar Patel, Rajendra Prasad and M.A. Jinnah. He set up cement factories in the kingdoms of Jind and Jaipur at the invitation of their ruling princes. However, he did not get along well with Nehru, who had once said of him: "He’s an ugly man with an ugly face and an ugly mind and an ugly heart. Just because he owns a few newspapers,
he claims to be an expert on foreign affairs.".
Dalmia was also a philanthropist and presided over a number of religious, educational and social conferences. He formed the Anti Cow-Slaughter League. He began a worldwide campaign promoting the idea of “One-World Government”.
Bennett and Coleman and Tihar Jail
In 1947, Dalmia engineered the acquisition of Bennett and Coleman by transferring moneys from a bank and an insurance company, of which he was the chairman. The Gwalior bank was to go bankrupt within a year. The auditors did not approve of these transactions and noted this in their report. In 1955, this came to the attention of the socialist parliamentarian Feroze GandhiFeroze Gandhi
Feroze Jehangir Gandhi was an Indian politician and journalist, and publisher of the The National Herald and The Navjivan newspapers from Lucknow....
who, was part of the ruling Congress party headed by his estranged father in law Jawaharlal Nehru. In December 1955, he raised the matter in parliament, documenting extensively the various fund transfers and intermediaries through which the acquisition had been financed. The case was investigated by the Vivian Bose Commission of Inquiry, and he was held liable for repaying Bharat Insurance nearly 2.5 crore Rupees.
He did not have this fund, and in the end he mortgaged Bennett and Coleman to his son-in-law to secure the money.
In the following court case, despite hiring the British attorney Sir Dinglefoot, he was sentenced to two years in jail. However, most of the jail term he was in hospital. Recent Supreme court records allege that he "was known for his generosity to jail authorities, and one doctor received a car as a gift.
Family life: Six wives
Dalmia married six times, with five wives simultaneously in different households. His first two wives were village women, but his four later wives were all well-educated. In addition to his wives, he also had a number of other liaisons. Rumours also linked him to Fatimah Jinnah (Jinnah's sister).Dalmia had eighteen children.
Dalmia died on the 26th of September 1978 at the age of 85 after a prolonged illness.