Question: One of the Mutual Fund is empanelling me with a condition to procure Rs. X crores of equity investments as target in a year. Kindly advice me on the issue?
Mr. Gerard Colaco : I am happy you got empanelled with this particular Mutual Fund. Right now they are nothing great, but they may be coming out with certain good investment options in the future. When we were being empanelled we were also told that we would have to procure Rs. X crores of equity investments per annum.
I bluntly told that mutual fund people that we do not accept any targets. I told them that we had been in business for 22 years without you and we would continue to be in business in future also, without you.
If this target becomes an issue, I will drop that Mutual Fund without hesitations and with cold blood ruthlessness.