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Q6 (CDS-I/2021) Economy › Industry, Infrastructure & Investment › Corporate and business forms Answer Verified

Which one of the following British firms was taken over by Soorajmull-Nagarmull group ?

Result
Your answer: —  Â·  Correct: A
Explanation

The Soorajmull-Nagarmull group, a prominent Marwari business house founded by Surajmull Jalan and Nagarmull Bajoria, was instrumental in the post-independence transition of corporate ownership in India. The group famously took over the British-managed firm McLeod & Co. Ltd. in the late 1940s. This acquisition was a significant event in the 'Indianization' of the jute and tea industries, as McLeod & Co. held extensive interests in these sectors. Legal records confirm that members of the Soorajmull Nagarmull group became Directors of McLeod & Co. Ltd. following the acquisition. This period saw several traditional British managing agencies being acquired by rising Indian entrepreneurial families as colonial economic structures shifted. While other firms like Andrew Yule and Octavius Steel also had long histories in India, the specific takeover by the Soorajmull-Nagarmull group is historically associated with McLeod.

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