The rise and rise of Manoj Nayak

| TNN | Oct 20, 2016, 08:13 IST

The rise of Manoj Nayak is what dreams are made of.Before Wednesd... Read More

BHUBANESWAR: The rise of

Manoj Nayak

is what dreams are made of. Before Wednesday when a look out notice was issued against the 56-year-old and his wife

Saswati Das

, he was considered one of the leading businessmen in Odisha.

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His rise from a humble college teacher to owner of 10 educational institutions in the state - including the Institute of Medical Sciences and SUM Hospital where Monday's fire killed 21 patients - through his trust, the Siksha O Anusandhan (

SOA

) Group, is inspirational. But as in most cases, it was not without its usual share of controversy.

In 2000,

Nayak

was in the eye of the storm for his alleged involvement in an admission scam. "We found that he was booked by

Kharavel Nagar

police here on August 12, 2000, for selling engineering seats. He was luring low-ranking students to his engineering college - Institute of Technical Education and Research (ITER) - that he had set up in 1996," a police officer said.

But he could not confirm whether or not Nayak was arrested that time. The cheating case was filed against him by authorities of the state government's Joint Entrance Examination which conducts entrance test to engineering colleges.

But Nayak seemingly braved the storm and carried on, consolidating his position in the education sector, allegedly because of his perceived closeness to some BJD leaders and bureaucrats.

Nayak started his career as computer science lecturer in a state-run government college before venturing into the field of education entrepreneurship in the late 90s. Those who know him said he earned a BTech in electrical science from the NIT, Rourkela in 1982 and holds a PhD from IIT Kharagpur in computer science.

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Top Comment

Mohammed Obaidullah

2993 days ago

The Bhubaneswar hospital tragedy will be remembered for the tragic human loss. It will also be remembered for the marathon media trial of a hapless philanthropist and social worker. who moved on to establish one of the finest private universities in the country (ranked 16th as per government rating in 2016) and received wide acclaim as a social edupreneur contributing to the all-round development of the region. As is often cited as a good practice in the management of non-profits, this Founder-Trustee “kept himself away from the Board of Management of the university and the hospital he founded”. And as the headlines in a section of media suggest “even in the websites of the SOA University his name was conspicuous by its absence.” A good practice has been turned up-side down to look like a sinister motive. Separation of ownership from management is a celebrated principle. It is a celebrated principle not just in corporations but in non-profits too. The American economist and Nobel laureate, often referred to as “The Father of Finance” writing with Michael Jensen in a widely-cited article in the Journal of Law and Economics argues that “the separation of decision and risk-bearing functions observed in large corporations is common to other organizations such as large professional partnerships, financial mutuals, and nonprofits”. The authors further assert in the context of non-profits like universities that “a more formal structure of diffuse decision management and control is helpful to Trustees who do not have specialized knowledge about a university’s activities.” In a Trust, the role of the endower and trustees are clearly spelt out. Section 10 of Indian Trust Act, 1882, defines a trustee as follows: “Every person capable of holding a property may be a trustee; but where the trust involves the exercise of discretion, he cannot execute it unless he is competent to contract.” The primary duty of a Trustee is to obey the directions of the testator or settler and preservation of the Trust assets. Section 13 of the Indian Trusts Act states that “A trustee is bound to to take such other steps as, regard being had to the nature and amount or value of the trust-property, may be reasonably requisite for the preservation of trust property and the assertion or protection of the title thereto. The paramount duty of the trustee is to take all necessary steps of preservation and protection of the trust property. A noble motive of a philanthropist to do things in a professional and competent manner has been deliberately misconstrued as the output of a criminal mindset that could predict the impending disaster and hence, the preemptive exclusion from the Board of Management. It is sad. Philanthropy is an idea that needs continuous rejuvenation from who can put the idea into action. If the motives of actors is under constant suspicion, thanks to our "vigilant" media, I am afraid we may soon have to write the obituary of all philanthropic action in the region.

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