I was reading this article about how Hindalco is hiding its loss due to acquisition of Novelis, how Tata hid its development charges for Indica using an innovative Securities Premium account.
Basically the asset is transferred to this account and depreciated without effecting the Profit and loss accounts. What is worse is that since Indian courts allow this scheme, more and more companies are taking the route and hiding the true shape of their balance sheet from the public.
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Ankur Aggarwal
sree
Sandip Chaudhuri
vbr
shobhendrasrivastava
Yatha raja tatha praja
goes the old sanskrit saying .. hope im right
what about all them off budget expenses borne by the people thanks to our govt?
Comment by Prax — February 27, 2009 @ 1:10 pm
india artificially lowers its defence spend by keeping the para-military expenses out of the defence budget. Somebody tell me why border patrol is not part of India’s defence…
the oil bonds are cleverly not kept part of the budget deficit etc etc… i agree the list is endless
Comment by Ankur Aggarwal — June 14, 2009 @ 9:53 am