S1 Ep28: Why the government needs to practice first and then preach? #BusinessTitbits
A recent issue of the Financial Express carried a few interesting news items. In an address to the Bohra Muslim community, the PM preached or rather warned that business should be done within the rules and laws. Good advice, but looks to be one-sided for sure. Another news item on the same page said that even if someone who has inadvertently claimed a wrong GST credit, has on his own noted the ...
6m Sep 19, 2018
6m
S1 Ep27: The secret of the sealed letter by a former IPS officer #BusinessTitBits
In a recent case before the Bombay High Court, concerning a writ petition filed by NDTV, in the matter of alleged FEMA violations by it, the advocate for the Enforcement Directorate, handed over to the judges, a sealed envelope containing the evidence on the basis of which ED has initiated proceedings against NDTV. The counsel for the ED, requested the Court to not permit the same to be perused...
7m Sep 18, 2018
7m
S1 Ep26: Why the MSME loan crisis?
A recent RBI study says that there are 63 mn MSME units in India, employing over 11 crores persons and contribute to 30 % of our GDP. This sector also contributes to 45% of our manufacturing output and to 40% of our total exports. But then this is the small industries sector and it thus has no voice and no say in policy making and legislation. The MSMEs battle an oppressive environment, where t...
8m Sep 15, 2018
8m
S1 Ep25: The tight strings between Chanda Kochhar and Videocon #BusinessTitBits
The Videocon group invested 64 Crore into a company owned by Chanda Kocchar's husband Depak Kochhar which brought which brought a spat of her questionable deals in the open. The Income Tax Department is investigating a Real Estate transaction related to ICICI and Videocon which had occurred in 2010. The investigation is on a building called Radhika owned by ICICI in Prabhadevi which was sold to...
7m Sep 12, 2018
7m
S1 Ep24: Is it right for PM Narendra Modi to patronise the big? #BusinessTitBits
In response to the rising criticism from the Opposition parties, the PM said at a recent conference, that he is not afraid of standing next to industrialists, unlike some Opposition leaders. He also attacked his political rivals for dubbing industrialists as chor and lootere. While the PM has always been seen in the company of big industrialists, he was yet a bit mindful of Rahul Gandhi’s sarca...
7m Sep 11, 2018
7m
S1 Ep23: Why compromised governance in case of ICICI? #BusinessTitBits
The grave lapses of ICICI Bank and the malpractices of its top management have resulted in a huge reputational risk for it, which can be fatal to a banking institution. It is being questioned not just by its institutional shareholders for such mismanagement, but also by the SEC USA. A number of its FII shareholders have sold off their shareholding, not being satisfied with the manner in which t...
9m Sep 06, 2018
9m
S1 Ep22: Is the Indian economy really growing?
While the reports published shows the upsurge of 8.2% of the GDP. The reports however was for first three quarters i.e April, May and June, which is higher then the conses figure which was there in the market of 7.6%. as an expectation of 7.6% it is exponentially well. This helps India to retain it's position as the worlds fastest growing economy. China on the other hand is at 6.7%. As the BJP ...
7m Sep 03, 2018
7m
S1 Ep21: Why demonetisation when there is no black money?
It was sometime in May 2018, when the Reserve Bank governor was briefing the Parliamentary Standing Committee of the Ministry of Finance, on India’s gigantic banking crisis, that he was asked about the total cash deposited with banks during the demonetisation period. The RBI governor initially evaded the question, but finally said that the RBI is still counting and is yet to finalise the figure...
7m Sep 01, 2018
7m
S1 Ep20: Why is Jet Airways falling apart?
The deep financial crisis that Jet Airways faces today is not an overnight or sudden phenomena. It has been in the making for years and has now spilt over in the open because the alleged management misconduct is no longer sustainable. The airline may have been India’s largest in the past and is now its second largest, but its management and financial practices have not been above board. The pre...
9m Aug 30, 2018
9m
S1 Ep19: Why should RBI be allowed to exit from bank boards?
With the government being the owner of PSBs, as owner, it appoints its top executives viz. chairman, managing director and directors of the bank. In addition to that, it also appoints its nominees, who are generally senior IAS officers, on bank boards. What complicates matters is that under the law, the government also compels the Reserve Bank of India, to appoint its own nominees too on PSB ba...
5m Aug 28, 2018
5m
S1 Ep18: The so-called 'Telephone Banking' coined by PM Modi: When it all started
Recently PM Modi called the NPA crisis "Telephone Banking" wherein a neta or his babu, made a call to senior most bankers, who thereafter hastily sanctioned huge loans, without even appraising the project The PM said that while this shady practice started in 2008, it was at its peak during the UPA 2 regime ie. from 2009 to 2014, such that the aggregate bank loans, which were at Rs.18 lacs crore...
7m Aug 23, 2018
7m
S1 Ep17: Bhushan Steel scam: Who is to be blamed?
In the case of Bhushan Steel’s takeover by Tata Steel, the loss to the lenders and the creditors is about Rs.25000 crores, which is a humongous sum of public money lost. Many creditors of Bhushan Steel who could be SMEs will perhaps go bankrupt, due to these losses suffered. Who are the culprits who should be blamed and punished? Mr. Akhilesh Bhargava, Business Editor of HW Business and Finance...
6m Aug 22, 2018
6m
S1 Ep16: De beers and diamond crisis
While the Indian diamond industry which is a major contributor to India’s foreign trade, is a study of contrasts. Its customs certified imports/exports run into billions of dollars, but are interlaced with hawala, tax evasion and FEMA violations. It polishes 90% of the world’s diamonds and is thus deeply interfaced/interlinked with modern global trade, but it is yet run in a traditional desi st...
9m Aug 17, 2018
9m
S1 Ep15: Why such shareholder activism in HDFC?
In the most recent case, FIIs, which are major shareholders of HDFC, the housing finance giant, decided to vote against the appointment of its key promoter Mr. Deepak Parekh, as its director. They raised concerns about his age and his being director of eight other companies, thus questioning his personal commitment and focus, on the management functions of HDFC. What could possibly be the reaso...
6m Aug 16, 2018
6m
S1 Ep14: Why is Jet Airways facing murky waters in business? #BusinessTitBits
Jet Airways, India’s second largest airline by market share is financially bankrupt and the obvious is spilling out. Why is it that its business is facing murky waters? Mr. Akhilesh Bhargava Business Editor of HW Business and Finance shares his insights on the matter.
8m Aug 14, 2018
8m
S1 Ep13: It's not a rosy picture for the Indian economy after all #BusinessTitBits
The revelations of the latest Reserve Bank survey on consumer confidence in India, do not support the government’s contentions and point to an opposite direction. In the survey, which is conducted in the six metro cities viz. Hyderabad, Bangalore, Chennai, Kolkata, Delhi and Mumbai, more than half the respondents said that they do not expect any improvement in their income, their employment pro...
6m Aug 09, 2018
6m
S1 Ep12: India's wise move
With India’s plea to the USA to roll back the tariffs having fallen on deaf ears, it proposed the next best option viz. quantitative restrictions by USA on imports of Indian steel and aluminium products. Is it a wise move for a developing country like India? Mr. Akhilesh Bhargava, Business Editor of HW News Network shares his insights on the matter.
7m Aug 07, 2018
7m
S1 Ep11: What is the real reason behind the present rise in prices? #BusinessTitBits
Considering the constant hike in prices, is the hike in the interest rates in response to the surging consumer inflation or are there other factors involved? Mr. Akhilesh Bhargava, Business Editor of HW Business and Finance shares his insights on the matter.
7m Aug 06, 2018
7m
S1 Ep10: Is ICICI bank out of the closet? #BusinessTitBits
The ICICI bank was involved in deliberate window dressing its accounts. The ICICI bank used a secret software called SYMBOLS, which was used to backdate transactions and avoid the declaration of a loan as bad. The ICICI management under Chanda Kochhar concealed thousands of crores of loss by way of bad loan aided by complicit auditors. Mr. Akhilesh Bhargava, Business Editor, HW Business and Fin...
8m Aug 01, 2018
8m
S1 Ep9: Did Enforcement Directorate overvalue the assets of Nirav Modi? #BusinessTitBits
The $2 Billion PNB scam by Nirav Modi was an example how bankers can collude in perpetrating a massive fraud. While Nirav Modi successfully managed to flee outside the country, the Income Tax Department and Enforcement Directorate started attaching his property to recover the losses. The agencies estimated that the value of assets of Nirav Modi was more than or equal to the $2 Billion Fraud. Ho...
6m Jul 31, 2018
6m
S1 Ep8: Why money is so often illegally remitted in India?
While it has been a routine and traditional business practice in India, to illegally remit money abroad and evade taxes, despite very stringent provisions of penalty and prosecution under FEMA and the Income Tax Act, why is it becoming such a regular practice? Mr. Akhilesh Bhargava, Business Editor of HW Business and Finance shares his insights on the matter
6m Jul 26, 2018
6m
S1 Ep7: No Act, So a New Act | Business Tits-Bits
The Ponzi schemes proliferate and dupe the public, because of the negligence of authorities in their vigilance and enforcement. The existent laws and regulations are sufficiently armed to prohibit, penalize and punish all those who collect public deposits in violation of these laws. Are the new laws wholly unwarranted?
7m Jul 24, 2018
7m
S1 Ep6: Import Hawala Scam: It's all out there in diamond business
While the Directorate of Revenue Intelligence (DRI) Mumbai, recently unearthed a Rs. 3000 crore hawala scam, perpetrated by the Mumbai diamond traders, and while we know it is all out there, is this kind of business justified? Mr. Akhilesh Bhargava, Business Editor of HW Business and Finance shares his take on the matter in the video.
6m Jul 23, 2018
6m
S1 Ep5: Why the market is becoming a joke? | HW News English
While our stock markets may be the best performer in Asia this year, but a majority of investors in it, have burnt their fingers and foreign investors have been selling and exiting from them, in large number. The markets may be up, but so are the losses incurred by the public, why is it that it is becoming nothing but a joke? Mr. Akhilesh Bhargava, Business Editor of HW News Networks shares his...
7m Jul 19, 2018
7m
S1 Ep4: How fair is the criminal punishment for corporates?
While a host of instances involving mere non filing/delayed filing of routine returns and forms, the law provides for criminal prosecution of company directors and its key officers. They are minor civil offences, often not deliberate and deserve a minor punishment by way of levy of fine. The Act, however, comes down heavy handed on such violations and for a minor civil violation, it seeks to im...
7m Jul 17, 2018
7m
S1 Ep3: ICICI scam, the saga continues
As the case may be, it is the corporates that bribe the government officers, but the question here arises as to aren't the corporates equally responsible for the corruption happening in the country? Mr Sujit Nair, Managing Editor of HW News Network and Mr Akhilesh Bhargava Business Editor of HW Business and Finance share their insights and takes on the matter.
7m Jul 16, 2018
7m
S1 Ep2: The Benami saga of Asaram Baba
While the Department has found that two of Asaram's front companies own about 49 valuable properties all over the country, wherein over Rs. 100 crores huge been invested, is there a concrete reason why the Income Tax Department continues to investigate other such Benami properties and investments of this criminal and is confident of unearthing many more? Mr. Akhilesh Bhargava, Business Editor, ...
6m Jul 14, 2018
6m
S1 Ep1: The saga of tax terrorism
While the unfortunate saga began for Cairn in 2006, when it restructured its group shareholdings in the UK, and not in India, what is its inside story? Mr. Akhilesh Bhargava, Business Editor of HW Business and Finance shares his insights on the matter in the video.
6m Jul 12, 2018
6m