Ravi Ruia | wealthymatters

Top 10 Indebted Indian Corporates

January 3, 2016 Leave a comment

wealthymatters

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

Filed under Paper Assets, Tool Kit Tagged with Adani Group, Anil Agarwal, Anil Ambani, crony capitalism, Essar Group, Gautam Adani, GM Rao, GMR Group, GVK Group, GVK Reddy, Jaypee Group, Jayprakash Gaur, JSW Group, L Madhusudan Rao, Lanco Group, Ravi Ruia, Reliance-ADAG Group, Saajan Jindal, Sashi Ruia, Vedanta Group, Venugopal Dhoot, Videocon Group

Facing Criminal Charges…….

October 16, 2013 3 Comments

wealthymatters Today’s papers are full of Kumar Mangalam Birla being named in a first information report (FIR) related to alleged irregularities in coal block allocations.His is hardly the first prominent name to make it to the news in such fashion.Following is a list of other such names:

Aug 2013
Anil and Tina Ambani summoned as witnesses in the 2G scam case. In Feb 2011, Anil Ambani was subjected to sustained interrogation by the agency.

April 2013
Bharti Airtel chairman Sunil Mittal and Essar Group promoter Ravi Ruia had to submit personal bonds in a CBI special court as guarantees for their appearance in a case related to alleged excess allocation of radio airwaves in 2002.

July 2013
CBI had accused the industrialist MP Naveen Jindal of cheating and graft in one of its FIRs in the coalgate scam. CBI has also booked companies Jindal Steel and Power Limited and Gagan Sponge, which were allotted Amarkonda Murgadangal coal block in Birbhum, Jharkhand in 2008. Read more of this post