Corporate India – The ‘Creative Destruction’ since Liberalization.

The face of Corporate India has changed dramatically in the last 30 years since the economic liberalization began. Liberalization exposed the then established firms to competition, changing corporate mindset of taking markets for granted. Failure to adept to these changes led to what the Economic Survey has called ‘creative destruction’. Here is a look at … Continue reading Corporate India – The ‘Creative Destruction’ since Liberalization.
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Towards Better Corporate Governance – Strengthening Audit Framework

The decision by two of the top audit firms not to take non-audit work for their audit clients, is the culmination of regulatory efforts to improve the standard of corporate governance. However, the immediate trigger is a discussion paper, floated by MCA (Ministry of Corporate Affairs), which proposes a variety of measures to make audit procedures more independent. Here is a look at the issues raised and proposals suggested by the paper. Continue reading Towards Better Corporate Governance – Strengthening Audit Framework

Corporate Analysis – ArcelorMittal Steel.

After a long, gruelling insolvency process extending over 2½ years, ArcelorMittal, along with its JV partner, Nippon Steel, has gained management control of Essar Steel. The takeover also marks the entry of the company, promoted by Indian born, Mr Lakshmi Mittal, into India after failing in its organic attempts over a decade ago. Here is … Continue reading Corporate Analysis – ArcelorMittal Steel.
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The Year That Was – Corporate & Industry

Corporate sector saw many important developments during the year. A large number of them involved downfall of a company/ its promoter but an important success, ArcelorMittal getting control of Essar Steel after a long and hard-fought battle and entry into the Indian market. Major companies/ promoters to see their decline are Reliance ADAG, ZEE media, … Continue reading The Year That Was – Corporate & Industry
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Essar Steel Insolvency – An Unending Saga..!

The Supreme Court’s decision last week setting aside the ruling of NCLAT (National Company Law Appellate Tribunal) should bring a finality to this high profile insolvency case. The insolvency process of Essar Steel  has generated lot of attention and has been through lot of uncertainty. So much as to prompt the SBI chairman to pray for … Continue reading Essar Steel Insolvency – An Unending Saga..!
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