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Articles Published by Hemindra Hazari

HDFC Bank has used ingenious ways to understate its profits under Indian provisioning rules for FY2000. Apparently the year ended with the bank being flush with profits and, therefore, management decided to use some of its FY2000 profits for future contingencies. HDFC-Bank-BUY-3-May-2000Download
Post this report and the subsequent media coverage, the Indian government changed the selection policy of appointment of SBI chairman solely on the basis of seniority.
Forecasts for financial institutions have to take into account the coming of a new chief executive officer (CEO). Some new CEOs have presented shocking results in their first year. Robust profits of previous years have suddenly evaporated, replaced by marginal profitability or even losses.
In our experience companies adopt liberal accounting policies to cover up flagging fundamentals otherwise there is rarely a valid business reason.
Academic studies have proved the commercial viability of research by taking it from the lofty towers of academia to the lowlands of the trading floor.
A liquidity crisis of such a magnitude is not an overnight phenomena yet the credit rating agency certified the compnay as investment grade thereby misinforming bond holders and bankers
Debate with CRISIL on providing the highest rating of P1+ to Hindustan Lever HLL-3Download