Videocon Group | wealthymatters

Related Party Transactions

March 29, 2018 Leave a comment

wealthymatters

Here are the details of this corporate-banker nexus outed by ICICI Bank and Videocon investor Arvind Gupta.

Gupta’s curiosity was aroused by a 10 per cent coincidence he noticed in ICICI’s loans to Videocon group companies and foreign fund inflows into husband Deepak Kochhar’s firm NuPower Renewables.

NuPower Renewables was originally founded as a 50-50 JV between the Dhoot family and the Kochhar and Advani families .Chanda Kochhar’s brother is Mahesh Advani. Read more of this post

Filed under Theory, Tool Kit Tagged with activist investor, Arvind Gupta, Bank NPAs, banking scam, bribe, Cayman Islands, Chanda Kochhar, corporate-banking nexus, Deepak Kochhar, DH Renewables Holding Limited, Firstland Holdings, ICICI Bank, Mahesh Advani, Managing Trustee, Mauritus, NPA, NuPower Renewables, payoff, Pinnacle Energy, postaday, quid pro quo, related party transactions, scam, Supreme Energy, trust, Tuskar Overseas, Venugopal Dhoot, Videocon, videocon case, Videocon Group, videocon scam

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