Blackstone s bid to acquire the promoter stake in Cipla, India s third-largest drug company, highlights the fact that an integral part of India s industrial history is set to fade into museums. Cipla has been closely associated with India s struggle for independence, with Khwaja Abdul Hamied forming the company in 1935, chartered by India s most influential independence fighters, including Mahatma Gandhi and Subhash Chandra Bose.