Tonse Ananth Pai | |
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| Born | (1922-01-17)17 January 1922 |
| Died | 29 May 1981(1981-05-29) (aged 59) |
| Alma mater | Sydenham College of Commerce and Economics, Mumbai |
| Occupations |
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| Parent | Tonse Upendra Ananth Pai |
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Tonse Ananth Pai (abbreviated: T. A. Pai), (17 January 1922 – 29 May 1981) was an Indian banker and politician, who was responsible for the success ofSyndicate Bank as its general manager and later as chairman. He is also the founder ofT. A. Pai Management Institute.[1]
He was the eldest of four sons of Tonse Upendra Pai. He was the nephew of Dr.T. M. A. Pai. After his early childhood spent inUdupi district, he graduated in Commerce fromSydenham College of Commerce and Economics in 1943.[2] He worked atSyndicate Bank, which had been established by one of his relatives and in 1970 theGovernment of India appointed him as the chairman ofLife Insurance Corporation afterSyndicate Bank got nationalized.[3] He was the first chairman of theIndian Institute of Management Bangalore.[4]
He was elected to theRajya Sabha in 1972 and was appointed the Union Minister for Railways. In 1973, he was given the responsibility for the newly created Ministry of Heavy Industries, and subsequently, additional charge of the Ministry of Steel and Mines. Pai took over the responsibility of the Ministry of Industry and Civil Supplies in 1974.
He representedUdupiLok Sabha constituency in 1977 as anIndian National Congress candidate. In 1979 whenD. Devaraj Urs parted ways withIndian National Congress and createdIndian National Congress (U), Pai joined him and moved to the new party.[5][6] In the1980 Indian general election he contested again fromUdupi (Lok Sabha constituency) as a nominee ofIndian National Congress (U) and lost elections toOscar Fernandes.[7][8]
In 1977, Pai was one among the three ministers from the cabinet ofIndira Gandhi who were examined byShah Commission on emergency excesses.[9] Pai gave testimony againstIndira Gandhi saying the ministry was 'under siege' and he protested the decisions.[10] The 1998 book byAustralian journalist,Hamish McDonald titledThe Polyester Prince made references about Pai and his relationship withDhirubhai Ambani.[11] The book that was banned inIndia accused that there was gross tax minimization done during Pai's tenure byReliance Industries by using a company named MyNylon Ltd. a private limited company incorporated in 1973 by Pai family atKarnataka.[12]
He was conferred thePadma Bhushan by the Government of India in 1972.[13] He was awarded the degree of D.Litt. by theKarnataka University in 1973. TheAndhra University decorated him with the degree of D.Litt. in 1975.
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