We have heard of many fascinating stories, which are worth inspiring and a lot more to learn from them. Here’s the story of one such man who has been the epitome of success at the same time became the one who faced one of the biggest downfalls in his career. He is the founder of a famous aluminum company- Sudeep Dutta.
Rags To Riches
The story of Ess Dee Aluminum Pvt Ltd founder Sudip Dutta is a good example of rags to riches story as Sudip once used to earn Rs 400 per month and then went on to build a Rs 1600 crore empire. He came to Mumbai when he was 17-year-old. Sudip’s father was an army man who got martyred during the Bangladesh liberation war of 1971. Sudip’s dream was to become an engineer, but his father’s untimely death forced him to abandon his dream to support his family.
There was a time when Sudip used to walk 40 km everyday and live with 20 men in a single room. He joined a packaging company in 1989 and was paid just Rs 400 per month. When Sudip got to know that the packaging company he was working for would shut down, he decided to buy a manufacturing unit.
Sudip Built His Empire But Failed Terribly
Sudip adapted quickly and decided to convert his mid-cap company to a large-cap company. Sudip’s competition was giants like India foils, Jindal Ltd. etc.In November 2008, Sudip bought India foils from the Vedanta group. The move was significant because Sudip’s company was smaller than India foils.
Slowly, Sudip’s company Ess Dee managed to surpass a global giant like Vedanta and Ess Dee went to the top most position in the industry. Ess Dee’s wide range of technologically advanced packaging solutions made Sudip the owner of an empire worth Rs 1,685 crore.
Ess Dee Aluminium Ltd, however, failed to capitalize on its success and fell prey to insolvency. The Calcutta Bench of National Company Law Tribunal once ordered the initiation of a corporate insolvency resolution process against the company and today the name and fame he earned is into the ashes. A lapse or you can say a misinterpretation led to all the turmoil in the growth of the company.