A white knight galvanises Eveready as company fights mounting debt

Brij Mohan Khaitan stepped into the elite world of tea as a white knight when in 1961, a Marwari businessman, B Bajoria, had cornered a 25 per cent stake in Bishnauth, part of one of India’s top managing agency firms, Williamson  Magor & Company. The shareholding was just a per cent short of the 26 per cent promoter holding. A rattled Richard Magor — then at the helm — made an offer to Khaitan, who used to supply packaging materials and fertilisers to the company, to become a partner. The rest is history — Khaitan not only made it to the board of directors, a.....

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