Du­bi­ous Ti­tle

The Economic Times - - Companies: Pursuit Of Profit -

A few days ago, a prom­i­nent busi­ness­man who sits on many com­pany boards and is known to call a spade a spade, re­ceived a shock­ing let­ter from his lenders. He’d been termed a wil­ful de­faulter as the pro­moter of one of the com­pa­nies he’s on the board of had been given that ap­pel­la­tion. The busi­ness­man quickly ap­proached the lenders and en­quired about this new ti­tle given to him for no fault of his own. He told the lenders that the loans given to the com­pany de­spite a high leverage ra­tio called for a Cen­tral Bureau of In­ves­ti­ga­tion probe. The lenders un­ac­count­ably went silent af­ter that.

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