Why a very old company like Hawkins having a turnover of hardly 650 Crores, could not accumulate its own reserves for the past so many years? Something is fishy in these Corporate borrowers?
credit ratings are a joke. Altico credit rating fell from AA to Do in one day. Sufficient time to exit? Promotors always escape with the money, and there is no jail
5% GDP and 10% interest rate, the later sounds fishy, scam.
Whatever be the ratings of these creative accounting led NBFCs just do not put any money there. Well banks too have high NPAs still hidden but RBI will give 1 lac Rs backup
The regulator should have a very strict vigil on issuance of these corporate FDs and it should match their overall solvency standards
Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service