The Forum of Free Enterprise is a non-political organization founded in 1956 by A. D. Shroff, and has been established to educate public opinion in India on free enterprise and a democratic way of life. The Forum publishes booklets to further its objects. The following booklet is titled “Ethics in Business and Management” was published in April 1998 and was authored by D. Veerendra Heggade. This booklet is a textual representation of the 9th Bhogilal Leherchand Memorial Lecture delivered by D. Veerendra on 7th January 1998. The author provides his perspective on ethics and what is the ethical way to live. The author declares nature as the best manager and presents an example as to how our ancestors had a holistic view of nature and its resources, and used it as God’s blessing with care and caution. The author expresses concern regarding the unbounded expansion of science and technology and how we have crossed the boundaries and are trespassing the divine and natural laws in the name of scientific explorations, inventions, and innovations. Further, the author explains ethics in Indian culture and the cultural influences over the years due to the constant changes in civilization. The author talks about the nation’s business and management ethics and how it is identified by its traditional and cultural background. The author expresses his concerns on present conditions and how Science and technology in the hands of MNC’s (Multi-National Company) and TNC’s (Trans-National Company) have completely reversed the value systems, ethical standards, and social mores and provides a way out of this by going back to the ancient wisdom which gave priority to DHARMA, ARTHA, KAMA and lastly MOKSHA- the purusharthas. The further author explains the Dharmasthala model of management. The author concludes with the view that India should develop its own system of management ethics and business practices which would be beneficial for all.