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| S.M.Vekatanarayana Reddiar, S.M.V.Gardens, Kollam |
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His life is an example that doing business could be made as value-based as any other profession. Head of a big textile wholesale business, S.M.Vekatanarayana Reddiar had once wound up his gold business after Government imposed stricter control on the transaction of the yellow metal in 1962. He has been honoured by the Central Board of Direct Taxes (CBDT) and the Income Tax Department, Kerala Region for his honest return of taxes.
When 17-year-old Vekatanarayana migrated from a village in Thirunelveli to Kollam in 1951 to be an ordinary worker under gold dealer K.Kesava Reddiar, he had no ambition to excel in business. But seeing the honesty and diligence of the young man, Kesava Reddiar took the initiative to marry him to his wife’s sister, Vasanthammal.
Starting with lorry service, to gold and then to textiles, Vekatanarayana did his business in partnership with his brother-in-law. In 1969 he started a textile wholesale shop in Kollam on his own. What began with an asset of Rs.20000 in 1969 is today Rs.50 crore turnover business, thanks to the hardwork and adherence to values that he cultivated. Assurance of highest quality, punctuality and honest accounting were some of these values that he espoused.
From 1994-95 to 1998-99, he was awarded ‘Rashtriya Samman’ by CBDT for being one of the highest tax payers in the country. He won a similar award from the Kerala Region of Income Tax Department during 1994-95.
His philanthropic efforts are also significant. He was the treasurer of Quilon Poor Home for 25 years. His help and assistance to the financially backward students is an example to the society. He spends a considerable amount of his income for such activities.
When he says, “show me brilliant students who are financially backward and I shall sponsor their education,” it only reflects his social concerns.
71-year-old Reddiar lives with his wife at S.M.V.Gardens, Kollam
Courtesy: B.Santhosh Kumar, Mathrubhumi, April 4, 2005
Contributed by: Administrator
