RG Kar case: Sanjoy Roy raped, murdered Kolkata doctor, says CBI in its chargesheet
Nobel Prize 2024 in Medicine awarded to Victor Ambros and Gary Ruvkun for discovery of...
Adnan Sami's mother passes away, singer pens emotional note: ‘Greatest sadness and infinite sorrow’
70-year-old woman gets reply on job application after 48 years, says 'it seems…'
Sinwar’s Gambit: The untold story how Hamas geared up for October 7 war below Gaza
Zomato CEO Deepinder Goyal's wife becomes delivery agent for a day, video goes viral
Shares of THESE Tata companies drop amid Ratan Tata hospitalisation rumours
This man pulled Virender Sehwag's collar, punched him in dressing room while Sachin Tendulkar was…
This Indian brand set to enter European market after success in US, to challenge...
This Indian railway station requires passengers to carry passport and visa, it is located in...
Ratan Tata visited hospital but all is well, read what his statement says
Ratan Tata rushed to hospital, admitted to Mumbai's Breach Candy
Hardik Pandya breaks Virat Kohli's unique record, becomes cricketer with most…
BIG move by Gautam Adani as Adani Group plans to acquire this company for Rs 100757700000
Meet Bhavik Bansal who cracked NEET with AIR 1, topped AIIMS MBBS entrance exam, he is now...
Maldives President Muizzu's diplomatic U-turn, appeals Indian tourists to...
‘Land-for-jobs scam’: Delhi court grants bail to Lalu Yadav, Tejashwi Yadav
Anil Ambani's stunning comeback, Reliance Group secures massive Rs 176000000000 fund to...
From Ram Navami to Diwali: Check state-wise list of bank holidays in October 2024
IAS officer loses cool over 'Bilseri' water bottle, busts fake Bisleri racket
Bigg Boss 18: Rajat Dalal gets into ugly verbal fight with Tajinder Bagga on day 1, watch
Pakistani man rides tiger in viral post, internet calls it stupid, watch video here
Meet man who is CEO of Ratan Tata's company, earns Rs 7.21 crore annual salary, is member of...
Karan Johar has a die-hard fan in Mukesh Ambani's daughter Isha Ambani, this interview is a proof
Meet 'inverter man of India', whose one mistake led to downfall of 26-year-old company, he is...
BIG move by Gautam Adani as Adani Total Gas all set to start India’s biggest...
Israel intensifies bombardment of Gaza, southern Lebanon ahead of Oct 7 Hamas attack anniversary
GATE 2025: Registration ends today, apply with late fee at...
Apple iPhone 16 available in just Rs 27,000? Here's how you can grab this deal
PM Kisan Yojana 18th installment money not credited? Here's what you can do now
Navratri 2024 Day 5: Who is Maa Skandamata? Know puja vidhi, mantra and significance
Mumbai Metro-3 opens today: Check timings, fares of city’s first underground metro
World's smallest Rubik's Cube weighs just 0.33 grams, but will cost you a whopping Rs…
UP: Doctors extract 2kg hair bundle from woman's stomach who ate it for….
Between Scylla and Charybdis: India's precarious position in Israel-Iran standoff
Chennai: At least 3 dead, nearly 100 hospitalised after IAF's air show
This man used to sell bhujia, then built Rs 8330 crore company, his business is...
Scared of DIGITAL ARREST? Here's what you need to do
UP: Wolf terror ends in Bahraich as villagers kill sixth and final predator
Bigg Boss 18: Know highest-paid contestants of Salman Khan’s reality show over the years
Zomato CEO Deepinder Goyal stopped from using Gurgaon mall’s main entrance, asked to take...
Israel: 1 killed, 9 injured at mass shooting at bus station in Beersheba
How can India qualify for Women's T20 World Cup semifinal after 6-wicket win over Pakistan?
Anil Ambani RISES as value of his company goes up by Rs 24,000 crore, it is...
IND vs PAK, Women's T20 World Cup 2024: India beat Pakistan by 6 wickets to earn two crucial points
Indian hockey star slams Air India over broken suitcase, says ‘This is how your staff...'
'I'll pay you more than...': Ola CEO Bhavish Aggarwal takes shot at Kunal Kamra after clash over...
This is world’s largest residential building, accommodates over 20000 residents, it is located in…
Keanu Reeves escapes injury during pro auto racing debut in US
Rohit Sharma reveals Rishabh Pant's tactics that helped India win T20 World Cup 2024
Meet woman, who founded Rs 7000 crore brand, got fired from her company due to...
'It will be bigger than...': AB de Villiers on Rohit Sharma moving from Mumbai Indians to RCB
Watch: Nita Ambani wears stunning brat summer green saree at Manish Malhotra's store launch
Pakistan announce playing XI for first Test against England, star player returns
Meet man who went to US for job, studied at IIT Kanpur, later became a monk at 30 because...
This Mughal princess was one of richest women of her time, still never got married, reason....
After Delhi's big drug bust, MD worth Rs 1800 crore seized from...
BUSINESS
Kunwer Sachdev, who founded Su-Kam power systems in 1998, came to be known as the 'inverter man of India'.
TRENDING NOW
Su-Kam, the first-ever inverter company of India, was founded by Kunwer Sachdev in 1998. Sachdev came to be known as the 'inverter man of India', who envisioned the power backup company at the time when electricity crisis was at its peak in the country. Not only in villages, but the issue of power cuts was highly evident in cities too.
Sachdev, who was previously into the cable TV business, founded Su-Kam in 1998, with the aim to resolve the issue of power cuts. His business not only saw expansion in India, but in many countries of the world. It also served as a necessity in every household.
However, a mistake brought the company on the verge of being sold. It started to decline and later, was declared bankrupt.
Journey of Su-Kam:
When the company was launched in the market, many people returned it after buying, citing flaws. However, as it was re-launched in the market with a fresh version, it created a stir. Starting from India, the company was expanded to Nepal, Middle-east, Africa, Bangladesh among others.
How the company started to decline?
According to a report by News 18, Su-Kam, having seen its rapid growth, started to decline. Due to some personal reasons of founder Kunwer Sachdev, the company incurred debts of Rs 240 crores. The firm had enough funds to repay the loans. However, the banks filed a case against it in order to declare it 'bankrupt'.
As soon as the company was declared bankrupt, its command was handed over to Insolvency Resolution Professionals (IRP), following which, a message was sent to all the distributors and customers of the company that the service would no longer be available.
"The company built with three decades of hard work was closed down right in front of my eyes. A company which created its own market by competing with the big companies of America and China and gave global recognition to Indian products", News 18 has quoted Sachdev as saying.
A series of court cases:
Kunwer Sachdev, in a conversation with the news channel, said that following the closure of Su-Kam, court cases were filed against him one after another.
"Without any fault of mine, my respect built over years was destroyed. My dealers, distributors and customers gradually started leaving the company due to lack of service. I was not able to help them even if I wanted to, because all the assets of the company were in the possession of the banks", he said.