Top 10 Indebted Indian Corporates
January 3, 2016 Leave a comment
Crony capitalism is a high risk but quick way to enrich oneself. But such promoter groups are bad news for unsophisticated investors.
Be well advised to avoid the shares and FDs of these groups.
1 The Reliance Group
The Anil Ambani-led Reliance Group is in the business of power, insurance, wealth management, telecommunication infrastructure and entertainment. In March 2015, the company had a debt of Rs 1.25 lakh crore on its balance sheet. The amount is equivalent to the special package announced for Bihar by Prime Minister Narendra Modi ahead of state elections in August last year.
2 The Vedanta Group
Anil Agarwal’s company is the second-most indebted company. According to Credit Suisse, the company, which is into metals and mining, had a debt of Rs 1.03 lakh crore. This is equivalent to the amount raised by the Government of India in March 2015 through its biggest-ever auction of telecom spectrum. Read more of this post