Auswahl der wissenschaftlichen Literatur zum Thema „BHUSHAN STEEL“

The Non Performing Assets (NPAs) of Banks is a matter of great concern. The gross bad debt of the Indian banking system was Rs. 7.11 trillion as on March 2016. The Bhushan Steel Ltd was in the first list of 12 Loan defaulters as on 31st March 2016 and had an outstanding loan of Rs. 44478 crore. SBI filed a claim against Bhushan Steel Limited under Insolvency and bankruptcy Code, 2016 to recover Rs. 4295 crore and $490 million foreign currency loan. So to know how the Bhushan Steel Ltd gone into bankruptcy proceedings the objective of the study is to analyzing the capital Structure, debt Structure and the financial position of the Bhushan Steel Ltd. Data for the study is taken from capital line data base from period 1992 to 2017 and from the article/research published in the websites. The objectives of the study have been achieved with the ratio analysis. The study finds that the three fourths of the Odisha plant of Rs. 19400 crore was funded through debt to increased steel production. The problem began to start during 2010-11 as its debt repayment outstanding become Rs. 1118 crore. The cash from operating activities was only Rs. 994 crore and the company could not be able to pay its debt obligations. This position become worst during 2013-14 as it repaid debt obligation of Rs. 3384 crores. Beside debt repayment the interest burden on the company reached up to Rs. 1663 crore with earning of Rs. 59 crore. The company could not come out from the debt trap. The profit and cash flow from operations was not enough to repay the loan with interest back to the loan providers. During this course of action the offering of bribe to the CMD of syndicate bank put the company in the back foot. In the case of Bhushan Steel Ltd there was absence of good governance that caused the company in to the insolvency process.

Learning outcomes The purpose of this paper is to illustrate how a well-performing company can turn into a loss-making company on account of adverse industry cycle and poor management of risks in the business. The importance of factors like optimal level of leveraging, the ability of the management to deal with external and internal risks, and importance of corporate governance in the process of credit appraisal is understood from this case. Case overview/synopsis The case relates to the credit appraisal by the banks of a prominent steel company in India. The company, Bhushan Steel Limited, was doing very well. The banks lent aggressively to the company, based on their credit appraisal. However, the company soon turned insolvent on account of poor assessment of risks and deteriorating external factors. While this case may be analysed and studied through the eyes of both the Management and the lenders, the focus is currently on the latter. In a real-world scenario, the challenge for the lender is to sieve through the financial as well as non-financial data and make a valid conclusion on the level of credit worthiness of the borrowing company. This includes the topics of operational efficiency and synergies, commodity price cycles, external credit ratings, operating and financial leverage, regulatory risks and corporate governance. Complexity academic level Post graduate business management programmes – Finance specialisation. Supplementary materials Teaching Notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes. Subject code CSS 1: Accounting and Finance

Purpose – Consider the various employee-development initiatives at Bhushan Power and Steel Ltd (BPSL), India. Design/methodology/approach – Underlines the key role of employee development at the firm, and explains in particular how it develops its future managers. Findings – Reveals how employee competencies are mapped and how training is designed around these and the skill needs of the company. Practical implications – Details the benefits of this approach for both individual employees and the company. Social implications – Advances the view that BPSL’s managers are more rounded and knowledgeable than those in comparable Indian companies. Originality/value – Highlights the importance of taking into account the skill needs of the individual as well as the organization as a whole.

Dr. Jamshed Jiji Irani passed away on 31.10.2022 at the Tata Main Hospital in Jamshedpur. He was 86 and was ailing for some time. In fact, Dr. Irani had received severe internal injuries as he slipped in February, 2021, in the bathroom at his house near Beldih Golf Course in Jamshedpur. He was rushed to the Tata Main Hospital, where he was treated and discharged, but did not fully recover thereafter. Dr. Irani is survived by wife Daisy Irani and three children Zubin, Niloufer, and Tanaaz. Dr. Irani had a close Nagpur connect, as he was born here and had his education upto the post graduation level in the Orange City. Starting his school education in SFS School, he did B.Sc. from College of Science (now Institute of Science) in 1956 and post graduation in geology from the Nagpur University, P. G. Department of Geology in 1958. He decided to switch over to metallurgy and was awarded the J. N. Tata fellowship to study abroad. Dr. Irani earned his master's in 1960 and doctorate in 1963 in metallurgy from the University of Sheffield, U.K.. After a stint with British Iron and Steel Research Association, U. K., he returned to India in 1968 and started his innings with Tata Iron and Steel Co. Ltd. (TISCO), now Tata Steel. He soon rose to higher ranks, getting promoted to the post of Managing Director in 1992. Dr. Irani took over as MD from the high profile Mr. Russi Mody. Soon after, Dr. Irani took steps to make his company's steel prices competitive for the world market and bagged export orders. At this time Tata's steel prices were the lowest in the world. His position as the Head of Tata Steel and his apt handling of the company earned him the title "Steel Man of India" who reinvented Tata Steel. He took giant steps to enable local entrepreneurs around Jamshedpur develop their skills and become suppliers to the Tata companies, including Tata Motors, Jamshedpur. With his initiative, Jamshedpur soon became a hub for ancillary suppliers. With Dr. Irani at the helm of affairs, a new work culture of 8-hour shifts began at Tata Steel. He was elevated as Director, Tata Sons, a post that he held till 2011, along with boardroom posts in other Tata companies including Tata Motors and Tata Tele Services. Dr. Irani continued to remain on the Tata Steel board as Director till 2011. Dr. Irani was conferred an honorary knighthood (KBE) by Queen Elizabeth II in 1997. He was awarded Padma Bhushan in 2007 from Government of India. In 2004, the government appointed him as the Chairman of the Expert Committee for formulation of the new Indian Companies Act. He also held the post of National President of Confederation of Indian Industry (CII) during 1992-93. Dr. Irani was always a cricketer till his last years and also an avid stamp and coin collector. The leader and great visionary retired from all the posts of Tata companies in 2011, settling down at Jamshedpur to lead a peaceful life. Dr. Irani maintained a deep connect with the Gondwana Geological Society and his moral and philanthropic support always came by, whenever requested for. Our Society is extremely grateful to Dr. Irani for his encouragement and support and has sadly lost one of its most esteemed members. We deeply condole the passing away of Dr. Irani.

PurposeGiven the unique nature of Indian family firms and the recent failure of many business houses (Bhushan Steel Ltd., Hotel Leela Ventures Ltd. etc.) it is important to understand the relationship between the earnings management practices of the family firms and the debt. In this paper an attempt towards this has been made.Design/methodology/approachThis study makes use of an empirical approach to understand the relationship between earnings management and debt in the Indian context. This study was conducted by considering a large sample data of 16,629 family firm years spread across nine years. This study makes use of fixed effects and Generalized Method of Moments (GMM) regressions to test our hypothesis.FindingsFirst and foremost, this research supports the socioemotional wealth theory. It indicates that maintaining the control of the business is one of the socioemotional factors for the Indian family business and Indian family businesses ladened with debt engage in earnings management to protect their socio emotional wealth (control of the business). Evidence for higher earnings management practices for firms with above average debt has also been documented. Further, the fact that real activity earnings management is the preferred earnings management choice over the accrual-based earnings management as majority of debt is from the banks and financial institutions has also been demonstrated. Finally, the analysis indicates that accrual-based earnings management and real activity earnings management are complementary to each other. However, real activity earnings management can also act as a substitute for the accrual-based earnings management but the reverse is not true. Even among the real activity earnings management, cost-based real activity earnings management was preferred over the revenue-based real activity earnings management as the former is more elusory.Research limitations/implicationsThis research is limited to the listed family firms of India. Since the family firms around the world are heterogeneous the findings from this research might not be extended to other economies.Practical implicationsThe study has meaningful insights for policy making and monitoring of the family firms. It also aides the investors in taking investment decisions with respect to family firms in India.Originality/valueThe study is unique as it integrates the family firms, debt and various types earnings management. Previous studies have focused mainly on accrual-based earnings management. The study also provides insights on the relationship between earnings management practices and debt covenants at various levels of family holdings.

EVERY COUNTY ECONOMIC CONDITION DEPENDS UPON THE PERFORMANCE OF ITS INDUSTRY. HOW THE INVESTORS ARE INTERESTED IN IT AS IT WILL HELP IN THE INCREMENT IN THE FLOW OF FOREIGN EXCHANGE. A SOUND AND WELL PERFORMING INDUSTRY WILL ALWAYS ATTRACT INVESTORS AS IT WILL GIVE THEM A RETURN IN A LESS TIME PERIOD, BUT IT IS NOT EASY FOR A LAYMAN OR TO PROPERLY ANALYYZE THE PERFORMANCE OF THE COMPANY. TO UNDERSTAND THE PERFORMANCE OF ANY COMPANY WE HAVE TO DO FINANCIAL STATEMENT ANALYSIS. RATIO ANALYSIS IS A WIDELY USED TOOL OF FINANCIAL ANALYSIS. IT IS DEFINED AS THE SYSTEMATIC USE OF RATIO TO INTERPRET THE FINANCIAL STATEMENT AND WEAKNESSES OF A FIRM AS WELL AS ITS HISTORICAL PERFORMANCE AND CURRENT FINANCIAL CONDITION CAN BE DETERMINED. THE TERM RATION REFERS OF THE NUMERICAL OR QUNTITATIVE BETWEEN TWO VARIABLES. RATIO ANALYSIS HELPS IN INTER-FIRM COMPARISON BY PROVIDING NECESSARY DATA. AN INTERFIRM COMPARISON INDICATES RELATIVE POSITION. IT PROVIDES THE RELEVANT DATA FOR THE COMPARISON OF THE PERFORMANCE OF DIFFERENT DEPARTMENTS. IF COMPARISON SHOWS A VARIANCE, THE POSSIBLE REASONS OF VARIATIONS MAY BE IDENTIFIED AND IF RESULTS ARE NEGATIVE, THE ACTION MAY BE INITIATED IMMEDIATELY TO BRING THEM IN LINE. IN MY STUDY I HAVE TRIED TO MAKE OUT A CLEAR PICTURE OF BHUSHAN STEEL LTD. PERFORMANCE IN THE STEEL INDUSTRY WITH THE HELP OF FINANCIAL STSTEMENTS ANALYSIS AND COMPARATIVE STATEMENT OF AFFAIRS. WHILE DOING MY INTERPRETATION RATIO ANALYSIS I HAVE FOCUSED ON 5 MAIN FOLLOWING FIELDS: LIQUIDITY  INVESTMENT / SHAREHOLDER  GEARING  PROFITABILITY  FINANCIAL WITH THE HELP OF RATIO ANALYSIS WE MEASURE RELATIONSHIP BETWEEN RESOURCES AND FINANCIAL DLOWS. IT SHOWS WAYS IN WHICH FIRM'S SITUATION DEVIATES FROM- ITS OWN PAST. OTHER FIRMS THE INDUSTRY ALL FIRMS THERE ARE SOME OTHER TOOLS THROUGH WHICH THE INVESTORS TRY TO BRING OUT THE CLEAR PICTURE OF THE COMPANY SO THAT INVESTOR CAN EASILY UNDERSTAND THAT ON WHICH COMPANY THEY SHOULD INVEST THEIR MONEY AND TOOLS ARE: CASH FLOW STATEMENT COMPARATIVE INCOME STATEMENT FUND FLOW STATEMENT