Politics
Business
Economics
Finance
Risk assessment
POLICY
Financial Crisis Management
Judicial Reforms
Contractual Obligations
Resolution Frameworks
Uday Kotak's learnings from IL&FS: ( each lesson is a gem) A. Extremely important policymakers and govt step in fast during a crisis B. IL&FS had a 6-layered structure which failed: management, board, its institutional investors, rating agencies, auditors and regulators (1)
(2) Kotak's lessons from IL&FS:
C. We need to crack how to move our judicial process faster D. Sovereign govts- esp state govts- must respect contracts E. IL&FS can be a case study on how we build resolution frameworks which are in no-man's-land
C. We need to crack how to move our judicial process faster D. Sovereign govts- esp state govts- must respect contracts E. IL&FS can be a case study on how we build resolution frameworks which are in no-man's-land
(3) Kotak's lessons from IL&FS:
F. We need to work on the area of group resolution
G. Bankers must not lend where you don't understand the biz structure H. Banks must do their own diligence, not rely on rating agencies etc
F. We need to work on the area of group resolution
G. Bankers must not lend where you don't understand the biz structure H. Banks must do their own diligence, not rely on rating agencies etc
(4) My lesson: If one of the best bankers, with best possible govt backing could retrieve only 55% of IL&FS's loans, it shows the distance we have to go on ease of doing business and contract enforcement. BTW 55% is a great achievement given the complexity of the IL&FS structure
Loading suggestions...