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Author: Sandeep Hasurkar
Publisher: Rupa Publications India (10-Nov-20)
Edition: 10-Nov-20
ISBN-13: 9789389967531
Publishing year: Rupa Publications India
No of pages: 264
Weight: 380g
Language: English
Book binding: Hardcover

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SANDEEP HASURKAR has been an investment banker, term lender and policy advisor with leading financial institutions for the last three decades. Twelve years ago, he took a break from the virtual world of high finance to work in the real economy. He started building and operating renewable energy projects for IL&FS. The time at IL&FS gave him an insider?s perspective on the rise and fall of this behemoth. Sandeep is a regular speaker at seminars and is frequently invited as guest faculty at leading management institutes. He also sits on the boards of many renewable energy companies. Whenever he can, Sandeep tries to escape the financial jungle and goes exploring the real forests in national parks.

A company with a debt of nearly Rs one lakh crore collapsed but no one seems to care anymore. Why? India is staring at a financial crisis of apocalyptic proportions in the wake of the pandemic, but the country could have mitigated the impact had it not been in the midst of an economic slowdown caused by the failure of some of the biggest companies. Il&fs was the biggest and the most unexpected failure on this list. The dramatic fall of this low-profile behemoth, which was as sudden as its rise, triggered shockwaves that ripped through financial markets and the economy. Its long-serving Chairman Ravi parthasarathy and his trusted Aides had rapidly grown the operations across India using an astonishing 340 subsidiaries. Their combined borrowing of Rs 1 lakh crore was not just mind-boggling but also difficult to comprehend. Multiple stakeholders, including bankers, bureaucrats and other government authorities helped create an Icarus? the infrastructure leasing & financial services limited, which soared higher and higher only to get burnt by its own ambitions. How could so much value, resources and prestige disappear so quickly? Was this a business failure or a fraud?.