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⚠️WILLFUL BANK DEFAULTERS:

🔸Gitanjali Gems: ₹5492 Cr

🔸REI Agro: ₹4314 Cr

🔸Winsome Diamonds: ₹4076 Cr

🔸Rotomac: ₹2850 Cr

🔸Kudos Chemie: ₹2326 Cr

🔸Ruchi Soya: ₹2212 Cr

🔸Zoom Developers: ₹2102 Cr

(1/2)
🔸Forever Jewellery: ₹1962 Cr

🔸Kingfisher Airlines: ₹1943 Cr

🔸Gili India: ₹1447 Cr

🔸Nakshatra: ₹1109 Cr

QUICK FACTS:

A total of ₹68,000 crore worth of #loans of top 50 defaulters have been written off by #banks.

6 of the 50 #defaulters are from the #diamond market.
The Govt had refused to reply to the question about the total willful defaults written off by banks.

RBI finally disclosed the details after an RTI request was filed by @SaketGokhale

Known names: Mehul Choksi, Vijay Mallya, Kothari Group, Sandip Jhujhunwala, Jatin Mehta
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Related hashtags

#loans #banks #defaulters #diamond

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StockTalk
@stocktalk_in
📕 HOW ROTOMAC SCAM WAS DONE

🔸Company: Rotomac Global Pvt. Ltd. (RGPL)

🔸Promoters:
- Vikram Kothari
- Sadhana Kothari (wife)
- Rahul Kothari (son)

🔸Size of Scam: ₹3,695 crore

🔸Type of Scam: Bank Loans (unpaid)

🔸Period of Scam: 2008-2014

(1/2)
Before we understand the scam, we need to first understand an important concept that was used to execute the scam - Interest Rate Differential (IRD)

🔸What is IRD?
IRD is simply the difference between interest rates between two securities.
Eg: Loans, currencies, etc.

(2/n)
An example of how IRD works:

1⃣ Get a loan of $10000 (₹7 lakh) from a US bank at 2% interest rate.

2⃣ Transfer the money to India (the tricky part).

3⃣ Give the same money as loan in India at 8% interest rate.

4⃣ IRD will be 6% in this case.

(3/n)
Read 10 tweets
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StockTalk
@stocktalk_in
📕 WHY MOST INVESTORS FAIL?

🔸Most retail investors are introduced to the stock markets via news channels, stock websites or by friends.

🔸They start investing their hard earned money without understanding how the #StockMarket works.

(1/7) 👇
🔸Analyzing a company is out of question. They don't even know how to read a company's financial statements like balance sheet, etc.

🔸What next? They start hunting for stock tips given by market experts.

🔸Finally, they make their first investment based on a tip.

(2/7) 👇
🔸This typical cycle of retail investors usually ends up in a huge loss of their invested money.

🔸They start blaming the experts for their losses!

🔸They feel cheated and so they either leave the markets or start the tip hunting cycle all over again.

(3/7) 👇
Read 7 tweets
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StockTalk
@stocktalk_in
📕 HOW & WHY COMPANIES FAIL

The biggest challenge a company faces is developing its ability to adapt to changing business environments.

Any company, however big or stable, is not immune to a downfall if it fails to adapt quickly

Let’s consider JET AIRWAYS.

(1/9)

#StockMarket
Jet Airways started in 1993 and quickly became the top private airline in India.

Their USP: Excellent in-flight service.

They enjoyed the loyalty of the rich class, bollywood celebs, corporates, commoners, etc.

They enjoyed peak market share for more than a decade.

(2/9)
In 2006, just when they were riding at their peak, a new player was born - #IndiGo

IndiGo was new and catering to the changing customer demands of price over quality.

They focused on being the best low cost carrier (LCC).

Unlike Jet, they did not focus much service.

(3/9)
Read 9 tweets

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