I was away at Kumbakonam on Dec 31, 2011 when I heard the sudden demise of my great Sivakasi friend and Director of Pioneer Asia group, S Ashok. It is so shocking to know his passing away at the age of 57 due to heart attack. I have known Ashok since Eighties and he was one of my best sources for my exclusive stories on match industry, fire works and TN Mercantile Bank. When I was in FE, me and ex-colleague, Mony Mathew ( now with BL) visited Sivakasi for doing feature on Little Japan. Ashok helped us in meeting industry people and collecting informations. A soft spoken and always smiling person, Ashok knows the subtle ways to alert me on news developments. He represents an illustrious business family. His father Sri Sankaralinga Nadar is the founder of Match industry along with Ayya Nadar. Ashok and his brothers, Mr Maheswaran and Annamalai had unitedly grown the businesses of Pioneer Asia group which has interests in safety matches, textiles, wind farm, fire works, IT park, auto components. Ashok saw the group entering the asst financing business when it floated NBFC Pioneer overseras Finance with IOB. Ashok played a major role in building the export businesses and the magnificient IT Park- Tamarai in Chennai. He was the champion of match industry. His group was the only major player in the small sector taking on the competiton from the erstwhile MNC, Wimco. Later, when Wimco exited the field, ITC entered the field by sourcing matches from unorganised units. Still, Pioneer Asia remained a strong player. Ashok shot into limelight when his family sold their stake in TN Mercantile Bank in 1994. This had triggered the takeover of the bank by Essar group. I was lucky to know the devp and broke the story in ET in Sept 1994. Ashok used to tell me what forced his family to sell their block stake. I was surprised to know the same Ashok silently leading the renewed effort of Nadar community to regain control over the bank. He had plans to make it a big bank, broadbase its shareholing and professionalise the management. I am sure his admirers and other shareholders will help in realising his dream. I sincerely condole his death and convey my heartfelt condolences to his dear and near.
Thsnk you for your kind words. It was nice of you to share your heartfelt thought on Appa.
ReplyDeleteThanks so much for your appreciation. i am aware of Ashok's love and affection for his children. I have attended his daughter wedding reception at park sheraton. every day I think about him and like his family, his loss is not that easy for me to forgot.
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Balu
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