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The year 1965 was the watershed;

Mr Khaitan began to take an

active interest in the Company’s

affairs. He understood the

business and was aware of the

intricacies of management, labour

relations and allied aspects of

running a tea company. Mr Morice

and Mr Hannay were the stalwarts

he relied upon; the former was in

charge of the Assam estates and

the latter’s forte was labour

management (he took over as Chairman, Indian Tea Association).With their inputs and assistance, the base

of operations transferred from London to Calcutta.

“We were a fine team,”

reminisces Mr Khaitan,

“these two

gentlemen did not interfere in finance and workings in Calcutta. Mr O.J. Roy and Mr R.B. Magor were frequent visitors

from the UK and the latter reported on his trips upcountry.”

Unfortunately, hostilities broke out between India and Pakistan in the same year and the Company lost almost

one-third of its annual produce as the consignments could not be transported from Assam through East

Pakistan (now Bangladesh). In those days the dispatch of tea by rail was unheard of and the Company

supported the river navigation business. The entire crop of the months of June, July and August was lost in

transit and the Company was shaken by the loss. Mr Khaitan’s role was of utmost importance within the

Group as the government and financial institutions were happy to have his presence at the helm of affairs.

Whilst the Company was recovering from the effects of the Indo-Pakistan war, the government struck a blow

within the business community by devaluating the rupee.There were about six thousand expatriates working

in Calcutta – in banks, insurance and tea companies – and almost five thousand returned to their homes on

British Airways flights as they were asked to leave their places of employment. Mr Khaitan held the firm view

that no personnel fromWilliamson Magor would be asked to leave.

“I think this is the best decision I ever took,”

he recalls. The Company initiated a Devaluation Allowance to make up for any loss in remuneration.

“In my

mind, this decision has madeWilliamson Magor what it is today,”

says Mr Khaitan. Continuity of management was

maintained with executives retiring at the right time, with no personal financial losses to worry about. The

Company was able to recruit Indian personnel without disrupting systems or human and labour relations,

and everyone was happy.

“This was a landmark ...since there were no changes we continued to be a happy family,”

concludes Mr Khaitan.

The only weakness within the structure of the Group during this period was that Williamson Magor was a

managing agency in that they had no financial involvement with the companies they managed on the strength

of the managing agency agreement. The Company formed two investment firms in which South British

Insurance Company and Commercial Union (both insurance companies) purchased shares.With the capital

attained the Group acquired shares in the tea companies under their charge, like Gohpur, Dufflaghur, Bhorelli

and the East India Tea Company. The sterling companies were consolidated underWilliamson Tea Holdings

and Mr Khaitan was invited to join the Board. The gold mine that the Group represented soon became

evident, there was no fear of take-overs and,

“Four Mangoe Lane consolidated into a strong team, with forty million

kg of tea and GeorgeWilliamson and the Rupee companies as one.”

Before the sudden demise of Mr Pat Williamson, discussions had been held regarding Hampton Court, the

premises which served as the Calcutta office. The Board decided on constructing a multi-storied building at

the site within a time frame of three years, to be ready for the centenary celebrations of the Company and on

6 January 1966 the foundation stone for the new complex was laid. Mr Khaitan remembers how they leased

the offices of Brooke Bond & Company in the interim period. These premises were situated just behind

Hampton Court and since Brooke Bond too were in the process of relocating to new office space on

Theatre Road, there were no difficulties in shifting to temporary quarters. In two years the iconic structure,

Four Mangoe Lane, was ready for occupation. As Mr Khaitan says, proudly,

“Williamson Magor became a strong

company having land, the building, holdings and income.”

The next step was to merge the Rupee companies and by 1968, when the Company celebrated its centenary,

Mr Khaitan was confident that,

“We are a very sound, good family of tea planters and tea managers.”

The business

plan was to merge the holdings and plant out every available bit of land.

“By 1972,”

says Mr Khaitan,

“we had

literally planted five gardens in Assam.”

Consolidation made the Group stronger; the crop went up, costs were

down and profits improved.

“The Company became solid, cash-wise,”

affirms Mr Khaitan.

“I was concentrating on

finance management, consolidation and integration. In four years, from 1968 to 1972, we changed from a happy-go-

lucky organisation to a proper tea company.”

As the fortunes of the Company grew with good quality estates, healthy cash-flow and the export of superior

teas there were overtures for mergers with other firms like Macneil & Barry and James Warren. None of these

were acceptable to the Board till 1974 when the Inchcape Group bought the London shares; the Company was

held by Mr Khaitan and Lord Inchcape till 1982 when Mr R.B. Magor purchased the London shareholding.The

transaction was completed, ‘sterling to sterling’, and Mr Magor was once again a part of Williamson Magor. The

Group remained thus for almost two decades when the Magors opted out with GeorgeWilliamson Assam Limited

in 2000. Mr Khaitan agreed to take over the shares of the London Company. Mr Magor gave the clearance and

the Calcutta offices of GeorgeWilliamson moved from Four Mangoe Lane to Lansdowne Road.

Mr Khaitan admits that this was a difficult period in the affairs of the Company. Fast growth, expansion and

acquisition brought their share of uncertainties.When McLeod Russel was taken over by the Company in 1985-

86, the assets grew proportionately; however, the first decade of the new century saw trying times.

(L to R): Mr H.P. Barooah, Mr John Morice, Mr B.M. Khaitan, Mr Dharam Vira, Mr O.J. Roy,

Mr R.B. Magor, Mr Eric Hannay