Sucheta Dalal :Is there something seriously wrong at SHCIL?
Sucheta Dalal

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Is there something seriously wrong at SHCIL?  

December 23, 2009

The suicide by a lady employee of the Stock Holding Corporation of India Ltd (SHCIL) has thrown up some serious issues related to the entity’s human resources (HR) policies and guidelines. A few days ago, an employee from SHCIL's Secunderabad office committed suicide, after saying that she was being stalked by a customer-stockbroker.


In her suicide note, A Ananda Lakshmi blamed a company customer-stockbroker Janardhan Rao for her death, saying that he had been harassing her for about two-and-a-half years. According to media reports, Medchal's police sub-inspector (PSI) C Yadender has said that the employee had informed her husband about the harassment and also complained to her manager at SHCIL.


The suicide of Mrs Lakshmi, however, has raised questions about the functioning of SHCIL. Any organisation is supposed to protect its employees—especially women employees—from outsiders. We contacted SHCIL, asking, "What kind of an organisation is the Stock Holding Corporation of India, where a customer-stockbroker can harass an employee and drive her to suicide?”


Vishnu Shinde, the security and vigilance head at SHCIL, replied, “The matter has been reported to the police, who have registered a criminal case under Section 306 of the IPC. The police have since arrested Janardhan Rao, a member of the public. We feel that we should wait for the outcome of (the) police investigation to know the truth behind the suicide rather than prejudging the issue. The SHCIL management is extending all necessary assistance to (the) police and the bereaved family."


But we think that SHCIL could have very well saved Mrs Lakshmi’s life if they had provided all the help that they are now offering, much earlier.


We sent a mail to SHCIL’s top management asking them about the complaints which had been filed by Mrs Lakshmi, but we still haven’t received any reply from them.
— Yogesh Sapkale


-- Sucheta Dalal