Meet 'inverter man of India', whose one mistake led to downfall of 26-year-old company, he is...
The Story of 'Inverter Man of India': Resilience and Rebuilding
His journey from creating a revolutionary product to losing his company and rebuilding his career shows resilience
The article you linked discusses Kunwer Sachdev, the "Inverter Man of India," and the rise and fall of his company, Su-Kam. Here's a breakdown of the key points:
Rise of Su-Kam:
- Kunwer Sachdev founded Su-Kam in 1998, the first inverter company in India.
- Su-Kam's inverters addressed the frequent power cuts in India, becoming essential for households and businesses.
- The company expanded not only within India but also to other countries.
The downfall of Su-Kam:
- Su-Kam faced financial difficulties and was declared bankrupt. https://ibbi.gov.in/en/claims/inner-process/U64201DL1998PLC096685
- The article mentions a "mistake" by Sachdev that led to the downfall but doesn't specify the exact nature of the mistake.
- Legal issues arose due to a loan default, leading to the company's closure.
Current Situation:
- While Su-Kam is no longer under Sachdev's control, he has moved on to a new venture called Su-vastika
Kunwer Sachdev, known as the ‘Inverter Man of India,’ significantly impacted the country with his company, Su-Kam. Founded 26 years ago, Su-Kam was the first to manufacture power backup inverters, solving India's power crisis during the 1990s. Sachdev’s innovative inverters became household essentials, not just in India but also in countries like Nepal, Bangladesh, and parts of Africa.
However, Su-Kam faced a downfall when it was declared bankrupt after defaulting on a Rs 240 crore loan. Although the company had assets to repay the loan, legal troubles arose, leading to its closure. Distributors and customers were left without service, and Sachdev’s reputation was severely affected.
Despite these challenges, Sachdev did not give up. His wife, Khushboo, encouraged him to start a new venture. Together, they launched Su-vastika, providing services to customers and applying for patents on innovative products.
The Story of 'Inverter Man of India': Resilience and Rebuilding
15 out of the 60 patents applied for have been granted so far. Sachdev continues to serve as a mentor, bringing his years of experience to the new company.
Sachdev’s journey from creating a revolutionary product to losing his company and rebuilding his career shows resilience. Su-vastika now offers various services to dealers and customers, keeping Sachdev’s legacy alive in the power backup industry.