Never Too Big to Fail: The Collapse of IL&FS and its Ten Trillion-Rupee Maze - Hardcover

Sandeep Hasurkar

Hardcover

ISBN 10: 9389967538 ISBN 13: 9789389967531

Publisher: Rupa Publications India Pvt Ltd., 2020

Synopsis

A company with a debt of nearly Rs oneakh 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 thisist. The dramatic fall of thisow-profile behemoth, which was as sudden as its rise, triggered shockwaves that ripped through financial markets and the economy. Itsong-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 1akh 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 infrastructureeasing & financial servicesimited, 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?.

About this title

About the Author

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.

Edition details

• Publisher: Rupa Publications India Pvt Ltd.
• Publication date: 2020
• Language: English
• ISBN 10: 9389967538
• ISBN 13: 9789389967531
• Binding: Hardcover
• Number of pages: 264