This document presents information on industrial sickness and revival in three parts. It begins by defining industrial sickness and listing some of the causes, both external like power cuts and government policy, and internal like faulty planning and financial problems. It then describes symptoms of sickness like delays in payments and declining capacity utilization. The final section discusses revival, including conducting a viability study, suggesting measures like debt restructuring or new management, and outlining a potential revival program. It provides Hindustan Motors, maker of the Ambassador, as an example, describing its financial difficulties and plans to turn its Chennai plant into a separate entity.
• The 'District Industries Centre' (DICs) programme was started by the central government in 1978 with the objective of providing a focal point for promoting small, tiny, cottage and village industries in a particular area and to make available to them all necessary services and facilities at one place.
• The District Industries Centre is the institution at the District level, which provides all the services and support facilities to the entrepreneur for setting up Micro, Small and Medium Enterprises. This included identification of suitable schemes, preparation of feasibility reports, arrangements for credit facilities, machinery and equipments, provision of raw materials and development of industrial clusters etc.
• Established in 1940
• Vision is to be primary driving force of commercially sustainable industrial development .
• Industrial development Corporations are companies or agencies in India which were established at various times under the policy of Government of India for the promotion of small - scale industries.
• A Central Industrial Finance corporation was set up under the industrial Finance corporations Act, 1948 in order to provide medium and long term credit to industrial undertakings which fall outside normal activities of commercial banks.
• The State governments expressed their desire that similar corporations be set up in states to supplement the work of the Industrial financial corporation. State governments also expressed that the State corporations be established under a special statue in order to make it possible to incorporate in the constitutions necessary provisions in regard to majority control by the government, guaranteed by the State government in regard to the payment principal. In order to implement the views Expressed by the State governments the State Financial Corporation bill was introduced in the Parliament.
• Small Industries Development Bank of India (SIDBI), set up on April 2, 1990 under an Act of Indian Parliament, is the Principal Financial Institution for the Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector and for Co-ordination of the functions of the institutions engaged in similar activities.
• It was incorporated initially as a wholly owned subsidiary of Industrial Development Bank of India.
• The purpose is to provide refinance facilities and short term lending to industries. Its headquarters is in Lucknow.
• Former Deputy Managing Director is Shri N.K. Maini. Dr. Kshatrapati Shivaji is the new Chairman and Managing Director of the organisation.
• The 'District Industries Centre' (DICs) programme was started by the central government in 1978 with the objective of providing a focal point for promoting small, tiny, cottage and village industries in a particular area and to make available to them all necessary services and facilities at one place.
• The District Industries Centre is the institution at the District level, which provides all the services and support facilities to the entrepreneur for setting up Micro, Small and Medium Enterprises. This included identification of suitable schemes, preparation of feasibility reports, arrangements for credit facilities, machinery and equipments, provision of raw materials and development of industrial clusters etc.
• Established in 1940
• Vision is to be primary driving force of commercially sustainable industrial development .
• Industrial development Corporations are companies or agencies in India which were established at various times under the policy of Government of India for the promotion of small - scale industries.
• A Central Industrial Finance corporation was set up under the industrial Finance corporations Act, 1948 in order to provide medium and long term credit to industrial undertakings which fall outside normal activities of commercial banks.
• The State governments expressed their desire that similar corporations be set up in states to supplement the work of the Industrial financial corporation. State governments also expressed that the State corporations be established under a special statue in order to make it possible to incorporate in the constitutions necessary provisions in regard to majority control by the government, guaranteed by the State government in regard to the payment principal. In order to implement the views Expressed by the State governments the State Financial Corporation bill was introduced in the Parliament.
• Small Industries Development Bank of India (SIDBI), set up on April 2, 1990 under an Act of Indian Parliament, is the Principal Financial Institution for the Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector and for Co-ordination of the functions of the institutions engaged in similar activities.
• It was incorporated initially as a wholly owned subsidiary of Industrial Development Bank of India.
• The purpose is to provide refinance facilities and short term lending to industries. Its headquarters is in Lucknow.
• Former Deputy Managing Director is Shri N.K. Maini. Dr. Kshatrapati Shivaji is the new Chairman and Managing Director of the organisation.
The FEMA (1999) or in short FEMA has been introduced as a replacement for earlier Foreign Exchange Regulation Act (FERA)
FEMA came into act on the 1st day of June,2000
49 sections in the Act.
Sick industries: The reasons and remedies for it (A case study in Bangladesh)Masum Hussain
Small industrial units are the seedbed on industrial development in underdeveloped economy for its less capital involvement and more employment generation capability. But this sector cannot contribute expectedly for infection to sickness that ultimately prevents the entrepreneurial bases of economy. Sickness can be occurred in the inception period, in operation and /or in macro environment. Without the growth and development of entrepreneurship the development of country would always be unattained. It is a study through which we try to analyze the forces behind the spirit of entrepreneurship development. The study tried to explore the ambitions, compulsions, facilitations and expectations which lead them to industry, the idea generation process and motivators in that process of entrepreneurships and also the primary obstacles in entrepreneurships in Industrial estates. In this context an extensive survey is made and data have been collected from some entrepreneurs in five BSCIC industrial estate of Sylhet division in Bangladesh. From that study it is revealed that the leading ambition is making profits, compulsions are dissatisfaction in present job and unemployment and facilitating factors are technical skill and experience. The main source of idea is the entrepreneur himself and he is also the motivator in that process. Obstacle in emergence of entrepreneurship in industrial estates is revealed as the procedural hazards. Therefore it is suggested that proper counselling in presence of family members and minimizing the procedural hazards in facilitating supports should be emphasized in entrepreneurial development program. The problem of industries becoming sick, both in public and private sectors, has turned to be alarming in Bangladesh in recent years. Although the causes for closure or divestment might be many but in most of the cases continued loss played a major role. Thus the problem of industries becoming sick deserves to be treated more seriously at Government policy level as it is related to the national economy and development.
Introduction
Definition of company
Characteristics of company
Types of company
Formation of company
Memorandum of association
Article of association
Prospectus
Public deposits
Share & Share capital
Allotment of Shares
Members
Meetings
Winding up
ahara - SEBI case is the case of the issuance of Optionally Fully Convertible Debentures issued by the two companies of Sahara India Pariwar to which Securities and Exchange Board of India had claimed its jurisdiction and objected on why Sahara has not taken permission from it. Sahara has claimed that the said bonds are hybrid product, thus does not come under the jurisdiction of SEBI, instead is governed by Registrar of Companies (ROC) under Ministry of Corporate Affairs, from which the two companies of Sahara has already taken permission and submitted the red herring prospectus with ROC before issuing the bonds.
SEBI in return ordered Sahara's two companies to stop issuing the said bonds and return money to investors. Sahara contested the case in various courts which eventually came to Supreme Court of India. On June 14, 2012, (during the final hearing of the case), the group had provided details of its financials up to April 30, 2012. While the court reserved its order, Sahara claims that it has already paid to 93% of the investors and discharged its OFCD liability to the tune of Rs. 23500 crores and only around Rs. 2260.69 crores are left against which Sahara has already deposited more than Rs. 12,000 crore which has with interest swelled to Rs. 16000 Crore. By August 31, 2012 the date of Supreme Court order, the group repaid majority of its OFCD investors between May the last date of hearing and by August 30, 2012 the final order. Since these repayments have not been taken into consideration, Sahara maintains that any money paid now will obviously mean a double payment towards one liability.
The FEMA (1999) or in short FEMA has been introduced as a replacement for earlier Foreign Exchange Regulation Act (FERA)
FEMA came into act on the 1st day of June,2000
49 sections in the Act.
Sick industries: The reasons and remedies for it (A case study in Bangladesh)Masum Hussain
Small industrial units are the seedbed on industrial development in underdeveloped economy for its less capital involvement and more employment generation capability. But this sector cannot contribute expectedly for infection to sickness that ultimately prevents the entrepreneurial bases of economy. Sickness can be occurred in the inception period, in operation and /or in macro environment. Without the growth and development of entrepreneurship the development of country would always be unattained. It is a study through which we try to analyze the forces behind the spirit of entrepreneurship development. The study tried to explore the ambitions, compulsions, facilitations and expectations which lead them to industry, the idea generation process and motivators in that process of entrepreneurships and also the primary obstacles in entrepreneurships in Industrial estates. In this context an extensive survey is made and data have been collected from some entrepreneurs in five BSCIC industrial estate of Sylhet division in Bangladesh. From that study it is revealed that the leading ambition is making profits, compulsions are dissatisfaction in present job and unemployment and facilitating factors are technical skill and experience. The main source of idea is the entrepreneur himself and he is also the motivator in that process. Obstacle in emergence of entrepreneurship in industrial estates is revealed as the procedural hazards. Therefore it is suggested that proper counselling in presence of family members and minimizing the procedural hazards in facilitating supports should be emphasized in entrepreneurial development program. The problem of industries becoming sick, both in public and private sectors, has turned to be alarming in Bangladesh in recent years. Although the causes for closure or divestment might be many but in most of the cases continued loss played a major role. Thus the problem of industries becoming sick deserves to be treated more seriously at Government policy level as it is related to the national economy and development.
Introduction
Definition of company
Characteristics of company
Types of company
Formation of company
Memorandum of association
Article of association
Prospectus
Public deposits
Share & Share capital
Allotment of Shares
Members
Meetings
Winding up
ahara - SEBI case is the case of the issuance of Optionally Fully Convertible Debentures issued by the two companies of Sahara India Pariwar to which Securities and Exchange Board of India had claimed its jurisdiction and objected on why Sahara has not taken permission from it. Sahara has claimed that the said bonds are hybrid product, thus does not come under the jurisdiction of SEBI, instead is governed by Registrar of Companies (ROC) under Ministry of Corporate Affairs, from which the two companies of Sahara has already taken permission and submitted the red herring prospectus with ROC before issuing the bonds.
SEBI in return ordered Sahara's two companies to stop issuing the said bonds and return money to investors. Sahara contested the case in various courts which eventually came to Supreme Court of India. On June 14, 2012, (during the final hearing of the case), the group had provided details of its financials up to April 30, 2012. While the court reserved its order, Sahara claims that it has already paid to 93% of the investors and discharged its OFCD liability to the tune of Rs. 23500 crores and only around Rs. 2260.69 crores are left against which Sahara has already deposited more than Rs. 12,000 crore which has with interest swelled to Rs. 16000 Crore. By August 31, 2012 the date of Supreme Court order, the group repaid majority of its OFCD investors between May the last date of hearing and by August 30, 2012 the final order. Since these repayments have not been taken into consideration, Sahara maintains that any money paid now will obviously mean a double payment towards one liability.
Sick industries: The reasons and remedies for it (A case study in Bangladesh)Masum Hussain
Small industrial units are the seedbed on industrial development in underdeveloped economy for its less capital involvement and more employment generation capability. But this sector cannot contribute expectedly for infection to sickness that ultimately prevents the entrepreneurial bases of economy. Sickness can be occurred in the inception period, in operation and /or in macro environment. Without the growth and development of entrepreneurship the development of country would always be unattained. It is a study through which we try to analyze the forces behind the spirit of entrepreneurship development. The study tried to explore the ambitions, compulsions, facilitations and expectations which lead them to industry, the idea generation process and motivators in that process of entrepreneurships and also the primary obstacles in entrepreneurships in Industrial estates. In this context an extensive survey is made and data have been collected from some entrepreneurs in five BSCIC industrial estate of Sylhet division in Bangladesh. From that study it is revealed that the leading ambition is making profits, compulsions are dissatisfaction in present job and unemployment and facilitating factors are technical skill and experience. The main source of idea is the entrepreneur himself and he is also the motivator in that process. Obstacle in emergence of entrepreneurship in industrial estates is revealed as the procedural hazards. Therefore it is suggested that proper counselling in presence of family members and minimizing the procedural hazards in facilitating supports should be emphasized in entrepreneurial development program. The problem of industries becoming sick, both in public and private sectors, has turned to be alarming in Bangladesh in recent years. Although the causes for closure or divestment might be many but in most of the cases continued loss played a major role. Thus the problem of industries becoming sick deserves to be treated more seriously at Government policy level as it is related to the national economy and development.
Industrial sickness is defined in India as "an industrial company (being a company registered for not less than five years) which has, at the end of any financial year, accumulated losses equal to, or exceeding, its entire net worth and has also suffered cash losses in such financial year and the financial year immediately preceding such financial year".
The vast and crucial auto suppliers industry faces several competitive challenges -- rapid growth in emerging markets, pressure to meet clean air and mileage regulations, and the impact of technology and connectivity. Amid intense competition, suppliers will have to learn how to differentiate themselves and their products to preserve a profitable place in the automobile ecosystem and maintain high entry barriers for rivals. To do so, they must reexamine the profit potential of their products and portfolios, and focus on the innovation potential inherent in each of them.
Equity Market Reactions based on Company’s Financial StrategiesRUPANJAN NAYAK
Equity Market Reactions based on Company’s Financial Strategies on a POWER UTILITY COMPANY: CESC PVT LTD.
1. Contains equity stock market reactions based on company financial restructuring strategies like: following a lean business model, layoff and retrenchments, going full digital from offline business model etc.
2. The impact on the shareholders due to diversification.
3. Impact on the shareholders due to company strategic restructuring.
Supply Chain Metrics That Matter-A Focus on the Automotive Industry-8 OCT 2013Lora Cecere
The automotive industry is a low margin and concentrated industry with few players. It is a complex business.
Unlike other industries with low margins, the automotive industry has not yet developed supply chain resiliency to weather fluctuations in demand. Over the last decade plus—while other low margin industries have refined processes and technologies to improve profitability and manage cycles and complexity—the automotive industry remains stuck in backwards thinking and old paradigms. This is especially true of the North American automotive companies.
Presenter: NIL Madhab
Global Customer Manager, DHL Customer Solutions & Innovation
Resilient Supply Chains in Logistics and Other Industries
The 3rd India Business & IT Resilience Summit (27th - 28th May 2015). Marriott Courtyard, Mumbai, India
Turning potential supply chain disruption to competitive advantage.
March 2014 Edition of BEACON, A Monthly Newsletter by SIMCON.
Inside this issue:
INDUSTRY ANALYSIS : Power Sector
COMPANY ANALYSIS : Tata Power
Concept of the Month
Quiz
Did You Know?
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
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Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
The European Unemployment Puzzle: implications from population aging
Sickness and revival of sickness
1. A SUBJECT PRESENTATION OF MERGER
ACQUISITION AND CORPORATE
RESTRUCTURING
ON THE TOPIC:
SICKNESS AND REVIVAL OF SICKNESS
PRESENTED BY:
MANOJ KUMAR
ODIL KUJUR
AMIT KUMAR NAMADAS
MD. NADEEM HASNAIN
2. SICKNESS
INTRODUCTION:Industrial sickness means when an industrial company
which has at the end of any financial year accumulated
losses equal to or exceeding its entire net worth and has
also suffered cash losses in such financial year and the
financial year immediately preceding such financial year.
Industrial sickness means a company failed to repay its
debt within any three consecutive quarters on demand for
repayment by its creditors
3. CAUSES OF INDUSTRIAL SICKNESS
External causes
Internal causes
External causes:
1.Power Cuts:
- lack of power electricity support
- shortage in electricity
4. CONT’D…
2. Erratic supply of inputs:
- shortage of raw material.
- lack of transportation facility.
- high price.
3. Demand & credit restraints:
- no equal balance of demand and supply and lack
of credit facility.
- lack of credit facility.
- storage expanses.
- chance of out of fashion.
6.
Internal causes:
1.Fault at the planning & construction stage:
- wrong location area
- absence of market analysis.
- unbalance capital structure.
2. Financial problem:
- unable to repay payment.
- lack of financial support from bank & institution.
7. CONT’D…
3. Defective plant & machinery
- lack of technical & professional skill
- lack of technology
- in efficient in machine.
- high maintenance.
4. Entrepreneurial incompetence
- lack of knowledge of market
- lack of efficient professional skill
- lack of innovation
8. SYMPTOMS OF SICKNESS
DELAY OR DEFAULT IN PAYMENT TO SUPPLIERS, BANK AND FINANCIAL
INSTITUTIONS
IRREGULARITY IN BANK ACCOUNT
ACCUMULATION OF
INVENTRIES
DECLINE IN CAPACITY
UTILIZATION
DECLINE IN THE PRICE
OF EQUITY SHARE
DECLINE IN THE PRICE
OF DEBENTURES
9. REVIVAL OF SICKNESS
When an Industrial Unit is identified as sick a viability study
should be conducted to assess the unit, it covers:
Market
Operations
Finance
Human Resource
Environment
The viability study may suggest one of the following
measures:
Debt restructuring
Infusion of funds
Replacement of existing management
10. REVIVAL PROGRAMME
Settlement with creditors
Disinvestment and disposal
Strict control over costs
Streamlining of costs
Improvement in managerial systems
Workers participation
Change of management
Merger with a healthy company
11. HINDUSTAN MOTORS
Maker of Ambassador saloon, once the power symbol in
India is set to declare itself sick.
Revenue from its flagship product Ambassador tumbled
Slow to respond to aggressive competition from
multinational players such as Suzuki and Hyundai due to its
design which has remained virtually unchanged for over 6
decades
It had a negative net worth of Rs. 36 crore on June 30th
2013
Board of Industrial and Financial Reconstruction (BIFR)
A central Govt. agency that helps restructure bankrupt
companies or close down sick unit.
HM is the third automobile company to report in BIFR’s
door after PAL, the maker of Premier Padmini and FIAT
India.
12. REMEDIAL
Chennai Plant is being planned to turn in to a separate
entity.
The Chennai unit does contract manufacturing for auto
giants such as
Mitsubishi and Isuzu.
It also intends to bring in foreign investment for its
Chennai and West Bengal units.
It recently launched the BS-IV Ambassador Encore and
is developing a sub-4 metre version.
Besides Ambassador, HM also has Winner trucks in its
portfolio.
The company management says overall vehicle sales
would increase to 7,500 units this year.