Ajay Bhat (Monnet Ispat)

A ritual of issuing manifestos precedes democratic process in India to elect State & Central Governments. Manifestos otherwise are important piece of declaration about the agenda of political parties they propose to fulfill if voted to power. That we all know, but the promises made mainly by mainstream political parties have become longer in content & louder in commitment beyond the comprehension of average citizen of this country. Except key issues that concern broader population, I don’t assume an average citizen has the eagerness to read or unrelenting faith on wish list of manifestos. The key political parties also detail the plan outlay of expenditure on various heads like health care, education, infrastructure etc and if one were to add up the maths of these numbers, any one would wonder the veracity of such exorbitant claims & essentially the resources needed to accomplish them. Tall promises and big numbers have rendered these documents non-interesting subjects

Last few years have been predominantly thickly overcast with problems of non-performing assets in the banking system. It’s not that the NPA is a new development or has been a fresh news, NPA’s are synonymous with lending business globally so are they in India as well but the magnitude & size of NPA’s in India after 2010 has been rising at alarming rate. The objective of my article is not to discuss the NPA problem as such but one of the essential causes why they happen. Lot has been written on this subject but among the various reasons yet hidden there is one important & critical reason, which is not debated & at least has not been cited as one of the key inputs of this NPA menace. Let me try to elucidate this, let’s look at top 50 companies referred to IBC in the past over 18 months. We know clearly they are all over leveraged & their business models have failed to meet the obligations, hence the reference. Why are these companies over-leveraged & why did the

Conceptually Management & leadership are two different sides of the same coin. All executives are managers, in fact all employees may classified as managers for the assigned task & responsibility but in essence only the executives working in top positions are genuinely defined as the, management of the company. Among the top management the Leaders by implication are the people with vision, deep understanding of business, acumen, drive, ability to lead & guide people, risk taking ability etc. All managers are not leaders but all leaders are managers. Tens & hundreds of books have been written on leadership, management institutions from ivy leagues to well-known business schools teach leadership. Therefore it’s a much discussed & debated subject. The question is, Do we get leaders from ivy leagues & business schools? or humming books on leadership. The answer is clearly big NO. In my experience of corporate sector essentially Group CFO 0f Monnet & af