TO MOST READERS, Esquire conjures images of the popular men's magazine. But for a generation of Indians, it is synonymous with supplies of electronic goods and Bollywood films and music. Although Esquire ceased operations a decade ago, the trading company made headlines in July after winning a David-and-Goliath legal battle against HSBC: the banking giant was found to have acted with a 'total lack of morality and legality' in forcing Esquire to sell a key property and having the troubled firm liquidated when it challenged the sale.
The bank has since appealed against the ruling and a judgment is imminent. But whatever the outcome, the family of founders Arajan and Gurdas Choithramani feel vindicated by the earlier decision - and they're ready to move on to a new chapter in their lives.
'Our prayers were answered after 11 years,' says Sheela Choithramani, Arajan's wife.
Even so, life will never be the same for the Choithramanis, who had been among the leading lights of the local Indian community. The family had to struggle to send their children to university in the US. And six years into the trial, Arajan Choithramani was diagnosed with cancer. Fair-weather friends deserted them. They were grim years for the family.
It's been a harsh reversal of fortunes. Though well-appointed, the family's modest home in Castle Peak Road is nothing compared to the luxurious Villa Monte Rosa on Stubbs Road, where they lived in the late 1980s. 'We had everything then, a large house, cars and drivers, domestic helpers. We were very involved with the community here. Life was very different then,' Sheela Choithramani says.
The family hosted extravagant parties, sponsored prizes at the annual Diwali balls and was given to grand gestures - presenting the Indian singer Lata Mangeshkar with a gold CD when she played Hong Kong in 1994, for instance.