Our hard-earned money is so important to each one of us. When we see investments made with that hard-earned money in the stock market go down the drain, it makes you angry and frustrated. The stock markets react depending on multiple macro and micro economic factors. A default by a giant conglomerate on its re-payments, and the consequences that flow from this, can send shivers down the back of their creditors and investors.
Sandeep Hasurkar's book, " Never Too Big To Fail" is the story of the IL & FS conglomerate and how it defaulted on repayments a couple of years back. The Government of India is trying it's best to recover as much of the debt of over Rs 90,000 crores or Rs 910 billion.
How did this default take place? How come the common investor is asked a million questions before being given a loan while large companies seem to enjoy mind-boggling loan facilities with such ease? These are some of the issues written about in this interesting book, which has many lessons for all of us:- the Government, the banks who lend money, and not the least, we the investors.
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