What is the story behind Dhirubhai Ambani's attachment with L&T company and its shares L&T logo: The beginning of the story Everything started back in 1987. When Manu Chhabria an Indian born Dubai based businessman picked up 1% stock in L&T. Manu Chhabria was also known for his hostile takeovers of Indian business. He had already made his name by taking over Dunlop, Shaw Wallace, etc. When the news of Chhabria cornering 1% share of L&T was out. There was fear everywhere in the company. Then Dhirubhai Ambani came to rescue. N M Desai, the erstwhile chairman of L&T approached Dhirubhai Ambani for rescue..With this Sensing an apportunity, Dhirubhai Ambani picked up 18.5% share of L&T in 2 year by spending around Rs. 192 Crore. With this the threat from Chhabria was neutralised and everyone thought this was happy ending. With 18.5% stack in L&T, Dhirubhai got seats for him and his sons in board of directors. Dhirubhai was elected a chairman of L&T...
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