Besides generating wealth, create a lasting legacy, advised
Dr Minnie Bodhanwala when addressing members of the World
Zarathushti Chamber of Commerce
Text: Parinaz M. Gandhi Photos: A. F. T. Digital
Not everything that can be counted counts and not everything that counts can be counted.” A statement attributed to Albert Einstein was recalled by Dr Minnie Bodhanwala, chief executive officer of The Bai Jerbai Wadia Hospital for Children and The Nowrosjee Wadia Maternity Hospital. With over 30 years of experience in healthcare, as chief guest at the 16th annual general meeting (AGM) of the World Zarathushti Chamber of Commerce India (WZCCI) Region, she was speaking on social entrepreneurship at the Banquet Room of the West End Hotel in Bombay on September 21, 2019.
"There are many social entrepreneurs but are we able to measure the impact they are making? A social entrepreneur should be able to make a change in society, create an impact,” stressed Bodhanwala. Social entrepreneurs strive to solve community problems using innovative approaches for sustainable development, she explained. It is a focus driven enterprise to address worldwide problems. Whilst fostering a solution, the emphasis is on integration rather than division. There should be a shift in mindset with a greater emphasis on customer focus instead of merely amassing "money in one’s kitty.” Social entrepreneurship encompasses corporate philanthropy and non-profit sectors.
Dr Minnie Bodhanwala (l), Zerick Dastur
Phiroze Kharas felicitated by Adi Siganporia
(From l) Behroze Daruwalla, Farrokh Rustomji, Xerxes Dastur, Viraf Deboo,
Capt Percy Master, Tehmasp Bharucha, Yazdi Tantra, Tehemton Dalal, Aspi Antia
Percis Dubash (l), Jehaan Kotwal
Commending the entrepreneurial spirit of the early Zarathushti pioneers, she lauded their values that made them create "living legacies” in the form of medical, educational and cultural institutions whilst generating wealth. "CSR (Corporate Social Responsibility) was part of the ethos of our forefathers. They did it without any CSR label.”
Bemoaning the lack of youth in the audience, she felt their philanthropic trait should be nurtured. She wanted the youth of the community to participate in "platforms for fund-raising and other projects and emerge as change-makers.” Social entrepreneurs need guidance, passion, courage and mastery of the art. It is akin to driving a car that even a child can manage, but maneuvering a car through city traffic is an art. She cited the instance of the Bombay Scottish School helping her raise more than Rs 75 lakhs for pediatric patients once she had spoken to the teachers and students. Dependent on the crowd funding platform, she admitted how she needed to use it regularly for she could not repeatedly keep approaching philanthropic trusts as wave after wave of deserving patients came to her each day.
She referred to her own journey in social entrepreneurship. Having started her career as a qualified dentist, over the years she earned postgraduate degrees in health and business administration, besides other qualifications. A director of companies like Bombay Dyeing and National Peroxide, she is a trustee of Sir Ness Wadia Foundation, involved with projects initiated by Impact India Foundation, Hospital on Wheels, has initiated Happy Hearts Marathon and Human Milk Bank. Included in the "25 legends of healthcare” by Forbes India in March 2019, to her, awards and recognition do not matter as much as internal happiness. "When I joined the Wadia Hospitals, they were on the verge of closure; there was no one sitting at their tables (to work); files were laden with dust. I was asked by friends, ‘Are you mad to leave the corporate world and join this?’”
At the interview before she was hired, even the panel asked her, "As a lady how will you be able to manage?” The chance they gave her saw Bodhanwala turn around the operations of the Hospitals, modernize and launch new departments, maximize social impact so that better care could be extended to underprivileged children and expectant mothers. Social entrepreneurship is a "team effort. One cannot work in isolation,” she stressed. "It requires long-term commitment. The challenges and setbacks are many. One has to remove them from the pathway and move ahead…”
She cited the example of her team offering to contribute five lakhs for the Mumbai Marathon but the organizers were willing to give them only 10 or 12 chest bibs (bearing numbers to identify the runners). Seeing the disappointment of her colleagues, Bodhanwala declared, "We will have our own marathon,” and thus was born the Happy Hearts Mini Marathon. In 2014 they had 5,000 children participating and in 2019, the number had crossed 25,000. The funds generated helped them improve theater and laboratory facilities at their Hospitals and provide better facilities to patients.
When launching a social enterprise, one should be willing to improvise along the way, she has learnt. Whilst working on a program to tackle malnutrition among children in Palghar, they realized that it tied up with unemployment among the parents so her team helped the seniors to pursue gardening, gave them lessons in health, inoculation, sanitation besides nutrition to change their thought process. "The person at the head of the organization should have the guts to accept one’s mistakes… Make it a learning experience. Improve and straighten it out,” she recommended. A video clip of the Wadia Hospitals showed how they have grown as ultra-modern, state-of-the-art medical institutions in the last seven years, offering preventive, curative, palliative and intensive treatment, on par with the best in the country.
Preventive and curative legal action
While an active legislature and judiciary is healthy, regulatory activism can have an overreach, stated keynote speaker Zerick Dastur, founder of Zerick Dastur Advocates and Solicitors, the law firm that successfully represented Price Waterhouse (PW) before the Securities Appellate Tribunal (SAT). "There is a difference between fabricated auditing and regulatory auditing. How could SEBI (Securities and Exchange Board of India) overreach and ban hundreds of PW partners?” Dastur argued. Overruling the two-year ban imposed on PW by SEBI in 2018 in the wake of the Satyam Computer Services fraud nearly a decade ago, SAT recently declared that SEBI had no jurisdiction to ban the partners of any audit firm and that was the sole prerogative of the Institute of Chartered Accountants of India.
A section of the audience at the annual general meet in Bombay
In his talk on "Law and Business,” Dastur proceeded to elaborate on legal developments and statutes with which businessmen should be cognizant. "Ignorance of law is never a sustainable excuse in business,” he asserted. There are two kinds of lawyers: Those engaged in preventive law, who help in framing transactions that can withstand possible litigation; and those in curative law, specializing in dispute resolution and litigation law.
Collusive conduct that can block fair competition is not permissible. He cited the case of the Competition Commission of India ruling against LPG (liquefied petroleum gas) cylinder manufacturers who were penalized for giving identical bids.
According to the Law of Limitation, "a dispute cannot wait endlessly.” Normally legal action needs to be initiated within three years of the purported course of action. "Wherever there is a right, there has to be a remedy,” said Dastur, referring to the functioning of arbitration tribunals that are bound to adhere to time limits even whilst the courts in India may have cases pending from 1995/96. "There is one kind of robber whom the law does not strike at, and who steals what is most precious to men: time,” Dastur quoted the words of Napoleon Bonaparte.
Under the Specific Relief Act, those whose civil or contractual rights have been violated can insist on specific performance, unlike in earlier times when only an award of damage could resolve the issue. Especially for infrastructure projects, in case of delay in delivery, injunctions are granted only in the rarest of rare cases. "Economic justice” is a new concept introduced by the Supreme Court when hearing the Adani Power matter. It is based on the principle of business efficacy. Contrary to the lower authorities that held Adani Power responsible for terminating the power purchase agreement, the Supreme Court ruled that due to the state’s inability to supply coal, Adani could not honor its commitment and hence was entitled to compensation.
"One common thread in law and business is the success of the Zoroastrian community over a period of time, with senior lawyers and senior businessmen being Zoroastrians. It speaks a lot about us Zoroastrians… Perseverance and excellence define us… We Zoroastrians have never asked for special privileges. We stand on merit… We give our very best when the going gets tough. We believe in creating instead of destroying that has earned a special place in the hearts and minds of all Indians… We have a system of core values that are passed on from generation to generation. That is our reputation that we are all duty bound to protect,” stated Dastur.
Recipient of the WZCC Outstanding Young Zarathushti Professional award two years ago, Dastur appreciated "the system of interdependence in the community with the WZCC providing a platform to young entrepreneurs who don’t have the means to give effect to their dreams.” A journey of a thousand miles begins with a single step, he noted.
Matters at the meeting
"Power of Youth: driving future generations” is the theme decided for the next WZCC global AGM that will be hosted by the India Region at the Rhythm Luxury Resort in Lonavla from January 3 to 5, 2020, revealed Capt Percy Master, India regional director in his opening remarks at the AGM. On January 2, a bus load of members will leave Bombay to visit the Tata Central Archives in Poona after which they will check into the Resort in the evening. The next day will start with a jashan, followed by the global AGM, a panel discussion, speakers and a live band. The following day will see a fleet of youngsters arrive for a bawa breakfast, followed by a panel discussion, the second Zoroastrian Shark Tank and the gala awards function in the evening. An excursion has been planned on the last day. "Visit the WZCC website and make bookings,” advised Master. "Fifty percent of the bus has already been booked.”
For the Finance Initiative to fund upcoming Zoroastrian entrepreneurs with a loan up to Rs 25 lakhs, 54% of the Rs 1.62 crores raised have come from India, 34% from North America, 12% from Hong Kong. The first four entrepreneurs selected under this venture have been honoring their post-dated cheques, he assured the body. He further gave an overview of the Bombay Chapter that has been most active, the Poona Chapter that saw the enrolment of 12 new members, mainly youth and women, the Bangalore chapter that has involved the youth and even the ‘teenpreneurs’ (teen entrepreneurs) in their programs, the Women Entrepreneurs (WE) wing that is seeking to transform and nurture, and the Youth wing that has come to realize that "you can never cross the ocean unless you have the courage to leave the shore… When educating the minds of the youth, we must not forget to educate their hearts,” stated Master, recalling the African proverb, "If you want to walk fast, walk alone; if you want to walk far, walk together.”
Having attended the WZCC global AGM in Orlando last May, Master appreciated that the Zoroastrian community in North America that he was told numbers nearly 28,000 (estimates put the figure closer to 15,000 — editors) is "very united. In India we fight over almost everything.” He further referred to the new dar-e-mehers in Houston and New York where children and even spouses of mixed marriages are welcome. "They have a very open-minded concept which I think is the need of the hour if the community wants to survive.” Witness to the "enthusiasm among Zoroastrians overseas,” he felt "India does not give opportunities to its youngsters. Things are critical in India. I am sorry to say the future of our community does not lie in India anymore…” With the mounting cess and tax levied on charitable properties, "unless we sell some properties to support the others, the community is doomed… Unless we work for the development of the community, we are sounding the death knell,” he cautioned.
"He is the right captain for steering our ship,” WZCCI honorary secretary Behroze Daruwalla commended Master’s leadership. Honorary treasurer Xerxes Dastur regretted "the financial statement for the year is not looking healthy. There is an unfortunate deficit of Rs 5,29,000.” The major items of expenditure were the meetings and the running of the administrative office, he explained. Farhad Hozdar and Company were reappointed auditors and erstwhile honorary secretary Farrokh Rustomji was coopted as joint honorary secretary.
Sessions on artificial intelligence and robotics, leadership grooming, joint program with Moneylife Foundation preoccupied the Bombay chapter, as reported chair Tehemton Dalal. The Poona chapter with 80 members has formed its own WE wing and Youth wing, conveyed chapter chair Tehmasp Bharucha. Mind mapping and stress management were some of the topics addressed at their meetings where members are given an opportunity to showcase their products and services. In the absence of chapter chair Air Chief Marshal Fali Major (retd) or any representative from the Bangalore chapter, their report was read out by WE secretary Percis Dubash referring to the nine events they held during the year. Besides sessions on entrepreneurship, motivational talks, mini Ted talks, they organized networking events like speed brunching, breakfast of champions, night charity bazar, ‘Let’s play football’ where goal setting was explained through the game of football, ‘Charity begins at home’ where teenpreneurs learnt the importance of social entrepreneurship.
WE needs support from professionals and entrepreneurs with experience, stated WE global head Daruwalla. It is meant to encourage those "who have a fire in their belly to become entrepreneurs and professionals. Some need a push over the threshold.” Their programs covered dementia which is becoming an epidemic among senior professionals, a leadership program in Deolali, a fun outing, and a couple of joint activities with the Bombay chapter.
Ahead of the second Zoroastrian Shark Tank that will be convened by the Youth wing in Lonavla in January 2020, a masterclass on funding will be held at the Royal Bombay Yacht Club on October 5. The Youth wing coordinated activities for the students of the Holiday Programme for Youth, had sessions with XYZ (Xtremely Young Zoroastrians) planned by Farida Dahee, interacted with youths residing in Parsi colonies in Bombay and at the Seventh World Zoroastrian Youth Congress, reached out to over 800 youngsters across the world, mentioned youth director Jehaan Kotwal. "We try and make it fun, youth centric, and then start networking,” he added. Eight WhatsApp groups have been created within the youth segment, Coffee with WZCC, Youth Wing — Global, Youth Wing — Global 2, Finance, F&B (food and beverage), Automobile, Social enterprise, Artists.
"It is a pity that we have only one Philli (Phiroze) Kharas. We require many more,” stated global corporate secretary Adi Siganporia when felicitating Kharas who had completed two terms as regional director on the international board and hence was not eligible for reelection. Siganporia proceeded to describe his "senior colleague as passionate, extremely hard working, punctual, most disciplined, methodical, focused in what he does with a sense of commitment and dedication.” He further commended his "financial and intellectual honesty, always keeping a low profile.” The proceeds of his book Learning to Succeed have all "come to the WZCC kitty.”
"People like him come once in a century,” added Master, mentioning how they "rely on him for his acumen” and hoping that "his experience will always be forthcoming.” The octogenarian still plays tennis, admired Master.
WZCC member Adil Irani recalled a seven-day entrepreneurship conference he had attended in Ahmedabad where Kharas was the guest lecturer on the last day. "Within one hour he taught us more” than what was learnt in the preceding six days, he appreciated.
"Success is achieved through team effort and rarely by one working alone,” acknowledged Kharas giving credit to WZCC CEO Aspi Antia and his assistants from the WZCC administrative office for implementing the decisions taken by the executive. On the Business Advisory Committee he continues to fine tune "the vision and performance standard” expected from prospective entrepreneurs. Currently seeking to develop a trade mission in collaboration with companies in China, Germany, Australia and the UK for the Dubai World Expo 2020, the erstwhile chairman of Ecoplast Limited remarked, "I joined WZCC in 2007. It was never with the intention of what would I gain by becoming a member but the opportunity I would get to share my 18 years of experience at Union Carbide and 35 years as an entrepreneur.”