In the early 1930s, Tatya became aware of the potential of the sugar business because he had very recently bought shares worth 20,000 rupees in a sugar factory in North India, belonging to a Marwari friend; and in the very first year, had made a profit of 35 per cent.
Soon after the sugar tariff was imposed in 1932, Tatya sent an exploratory team to Phaltan state, comprising his son Bhausaheb, son-in-law Baburao Dabke and nephew Balasaheb. They were to meet the Rajesaheb of Phaltan to get preliminary information and discuss the possibility of setting up a sugar factory there. Tatya’s wife, Kaku, also decided to accompany the young men. On arriving in Phaltan, they first met Dr Bhadkamkar, a close friend of the Rajesaheb of Phaltan and Tatya. Along with Dr Bhadkamkar was Rao Bahadur Godbole, the diwan (prime minister) of Phaltan who was known for his disciplined and honest administration of the state. The two briefed the Apte delegation about what kinds of concessions they could expect from Maloji Raje, the Rajesaheb of Phaltan, for setting up a sugar factory there. The following day was the meeting with the Rajesaheb himself, who urged them to come to a decision...
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