Moneylife News Bites

The shameful collusion between creditors and resolution professionals (RPs) to legally hijack valuable corporate assets via the bankruptcy law reaches new lows every day. The most recent case pertains to Hirakud Industrial Works Ltd (Hirakud) which has been thwarted due to the efforts of Hindalco Industries Ltd (Hindalco) and the Hirakud Workers Union after the resolution had been cleared in Decem...

Listen to this week's episode, Debashis Basu takes an example out of Moneylife’s Wealth Creator series to see what lessons can be learned from the biggest multi-baggers of the past decade. Hosted on Acast. See acast.com/privacy for more information.

This week, Sucheta Dalal takes a look at the strange story of ICICI bank’s bailout of Lanco and an Australian coal mine that they had purchased. Hosted on Acast. See acast.com/privacy for more information.

Indian banks, especially public sector banks have poor processes for monitoring the use of funds and the guarantee process is downright dubious. Listen to this week's episode as Sucheta Dalal takes a look corporate bad loans. Hosted on Acast. See acast.com/privacy for more information.

People will always make an attempt to predict the impact of events on the stock market, however such predictions are meaningless. Listen to this week's episode as Debashis Basu explains why predictions are almost always wrong. Hosted on Acast. See acast.com/privacy for more information.

On 23rd December, when ICICI Bank’s former chief executive officer (CEO) Chanda Kochhar and her husband Deepak were busy sending out invitations to their son’s nuptials, the central bureau of investigation (CBI) decided to arrest the couple on an issue that has been in the public domain since whistle-blower Arvind Gupta’s blog post in 2016. Listen to this week's episode as Sucheta Dalal tries to t...

KPMG India settled a proceeding before the US Public Company Accounting Oversight Board (PCAOB) on 6 December 2022; but there is barely any coverage by the Indian media. Listen to this week's episode as Sucheta Dalal, takes a deeper look. Hosted on Acast. See acast.com/privacy for more information.

Last week the finance minister Ms Nirmala Sitharaman told the Rajya Sabha that Scheduled commercial banks have written off 10 lakh crore of bad loans in five years and that only 13 percent of the write off have been recovered. Separately, cumulative recovery of bad loans through the Insolvency and Bankruptcy Code until September (since the IBC came into existence in 2016) has been just 30.8% . Lis...

Over a year ago, Moneylife Foundation, began to explore public liability insurance (PLI) and why it is not available for those who are injured in public places such as banks, restaurants, cinema houses, theatres, malls, hospitals, hotels, airports, or while accessing bridges and ropeways. Listen to this week's episode as Sucheta Dalal explores why Indians continue to remain unaware of public liabi...

One of the best bits of news earlier this month was that the government seems serious about overhauling the bankruptcy Act in Budget 2023. Just six years after it began on a high note, the Insolvency and Bankruptcy Code (IBC) needs serious fixing and not a mere patchwork. Listen to this week's episode this week's video as Sucheta Dalal takes a deeper look. Hosted on Acast. See acast.com/privacy fo...

SEBI is now planning separate rules for financial influencers or Fininfluencers, who give unsolicited financial advice on social media to ordinary investors on stocks, personal finance, mutual funds etc. Will SEBI’s plan work? Listen to this week’s episode as Debashis Basu explains why SEBI has already lost the battle against Finfluencers and Illegal Advisors. Hosted on Acast. See acast.com/privac...

Winsome Diamonds was a massive corporate default that burst on the business world sometime in 2013—in the same manner as Gitanjali Gems and Niraav Modi. The three are similar because their companies were huge advertisers and this got them loads of high-profile publicity, until they suddenly vanished, leaving massive defaults on the books of Indian and foreign banks. Listen to this week's episode a...

The Securities and Exchange Board of India (SEBI) recently announced that it wants to rein-in financial influencers luring people with unsolicited investment advice on social media platforms. It is also working hard to regulate journalists who have brazenly misused their position for front-running their stock recommendations or help in pump-and-dump schemes. The regulator’s attempt to make the med...

This week, Debashis Basu takes the time to talk about the FTX fraud and how first principles of investing and regulation were overlooked during it's operation. Hosted on Acast. See acast.com/privacy for more information.

While the Securities & Exchange Board of India (SEBI) has been taking action and forming committees to fix wrongdoing, they continue to go around in circles when it comes to implementing new ideas for better governance. Hosted on Acast. See acast.com/privacy for more information.

Professionals dealing with the resolution process under the Insolvency and Bankruptcy Code (IBC) narrate innumerable malpractices, but usually do not want to be named, since they would be replaced and, later, ostracised by banks who invariably act in concert as secured lenders. In this week’s episode, Sucheta Dalal talks about the specific case of Mercator Petroleum Limited. Hosted on Acast. See a...

Unbelievable as it may seem, the Nifty has hit a new lifetime high on monthly closing basis and appears ready to head higher. This sort of thing usually happens in a bull market. You may or may not find the media talking about new or a continuing bull market but stock prices – the ultimate arbiter – seem decisive in their verdict, so far. We could perhaps call it a stealth bull market. Listen to t...