The past few days have witnessed a sharp and continued downfall of several persons and entities, who were considered to be Indian role models of success and were formidable giants in their heydays. Anil Ambani was held guilty of a serious crime of contempt of court by the Supreme Court, while his flagship entity RCom, a market leader at one point of time, faces bankruptcy, with no support from the bankers and other lenders. He also got a mouthful from the Bombay High Court recently, which dismissed his writ against the bulk sale of shares of his companies by Edelweiss and L&T Finance. Chanda Kochhar, the earlier much admired ICICI CEO, but now a shamed banker, was raided by the ED, investigating charges of money laundering and corruption and a lookout notice against her was also issued by the CBI, to prevent her suspected escape from India. Videocon, the earlier Indian icon of consumer durables too was raided by the ED, being Chanda Kochhar’s partner in crime. The question is who are the real system manipulators? Mr. Akhilesh Bhargava, Business Editor of HW News English shares his insights on the matter.
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