Bangalore Chapter meet


It was a pleasant Saturday evening in the ‘garden city’ Bangalore on 19th January, 2019. Many Sydenhamites were gathered once again this year. Some faces were familiar and some were new but there were smiles all around. It was of course the get together of the Bangalore chapter of SIMSREE.

The Alumni committee of SIMSREE was pleased to organise this wonderful meet for the alumni of SIMSREE who are making the college proud in Bangalore. The team flew from Mumbai early morning on Saturday to make the arrangements. The venue was a wonderful restaurant named Flechazo in Marathahalli, Bangalore. The event was scheduled in the evening. Our team was really excited and pumped up to make the Bangalore chapter a memorable one. A private deck was reserved specially for the people coming to the chapter meet. The alumni started to come in and were greeted by the team. There were hi and hellos echoing around the place as people were meeting each other after almost a year. One of the prominent presence in the room was of Mr. Hiren Badhiye, Employee Resources Manager of APAC region of Northern Trust. He not only shared his SIMSREE experience with us but also made the conversations more cheerful with his sense of humour. His batchmate, Mr. Brahmankar Udaram, VP (Corporate Business Excellence) of Hinduja Global Solutions, also joined the fun and reminisced about the old memories. Mr. Ramlal Mitra of 2002 batch also graced the event with his presence. Many more alumni from more recent batches also gathered and enjoyed meeting each other. The team had a wonderful time talking to everyone and had some great inputs from them as well.

The food was delicious as always and everybody seemed to enjoy it. Stories were being told, old memories were being shared and numbers were being exchanged. People were catching up with each other and everyone was enjoying the evening. Photos and selfies were being taken to keep these moments with them forever. It was a pleasure for the team as well to meet these people, have conversation with them, know their experiences, understand their perspectives and have a bit of fun, too. The alumni were also interested to know what is going on in the college and were eager to come to college and contribute to its growth in their own ways. It was really great to see their love and continued support for the institution. After few hours of conversations, chit chats, gossips and fun, everyone was presented with a little token of appreciation from the team on behalf of the Alumni Committee. A nice group photo was also taken to mark the end of the occasion. Everyone was delighted to meet each other after a long time. Promises were also made to keep in touch with each other and come again for the next chapter meet. The alumni were happy with the kind of organizing the team had done for the event and we as a team were also grateful for their presence. Team learned a lot from the alums and was delighted that this chapter meet was a huge success.

The Top 5%


It’s time to change the way we think!!

When the whole world understands the difference between business and jobs and the difference between their benefits and loses, only the top 5%, who actually takes the risk, succeed.

The actual difference between jobs and business was explained by a tea maker. In a conversation between a VP of a reputed company and a tea maker, the VP, wearing a suit asked the man how much do you earn and what are you setting for your son? The young man politely replied,”Sir I am doing this for my son, when he becomes of my age he won’t have to start it over again as your son will have to”.

Why do only 5% people succeed doing business?

Business is all about understanding, making complex things simple. According to Silicon Valley,” if you can explain your idea in mere one page than it’s a good idea, but if you take 50-100 pages to explain the idea and then it’s not for you. Business is less of a science and more of an art. Almost everybody thinks that he/she will start a business and it’s their burning desire. But based upon thousands of surveys and their research, 90% of the people will definitely fail. Everybody thinks that they will be successful, will be able to swim, but the bitter truth is they will sink or drown in water. The reason for this is very simple; because 50% these people will only think that they want to start a business and will never start till they die because of fear of security. The rest 50% fail because they won’t try to learn what business is and will directly jump and find themselves into hot water. It’s like playing chess, where we don’t know how a rook moves and a bishop moves, directly plays a competition with a grand master and still thinks to win. They only keep saying that their business idea was good and they tried hard for it to succeed.

The other 5 % fail because they cannot hold on to their business for a long time. “If you hold your business for 1000 days, it will definitely succeed, studies said”.

The rest 5% succeed in their business. Learn to observe things followed by understanding the observations. Observe people minutely who succeeded and who failed before starting your own business. Observe the thoughts of these successful people. Observe how they see the world differently which makes them successful. Learn what you can apply from those learning’s and finally apply. Apply hard work and full devotion to the work you do.

You will definitely succeed.

The Road Ahead for Corporate Governance


In recent times, many cases have come to light where stocks of companies were hammered in a short span of time. Banking and Financial Services sector, IT majors and even a few conglomerates have been all over the headlines throughout the year. Companies like Infibeam, PC Jewelers, Nirav Modi, Fortis, and even stocks of Infosys and Tata group companies were not spared. Reputed financial institutions like ICICI have been accused of allowing transactions which were not in the interest of the bank’s profitability. In case of Infosys, institutions were even worried that the board was allying with the founder-promoters rather than focusing on the shareholders. A common thread between all these events was ‘Weak Corporate Governance’. The vicious cycle which starts with weak corporate governance ultimately ends with the director stepping down from the board. The same has been seen in cases where, as a corrective measure, the RBI had refused to extend the tenure of CEOs.

Corporate governance is all about ensuring that the company’s management is acting in the interest of the shareholders. However, there are many challenges that are prevalent. Firstly, independent directors have failed to make their mark as they are easily pressurized by the majority shareholders and the last thing they want is to be seen as troublemakers for the management. Secondly, institutional shareholders have not been very assertive on the boards. Thirdly, proxy firms are yet to take off in India and a handful of proxy firms, at best, play the role of a sounding board for shareholders. Lastly, managements have not really given much thought to corporate governance, since there is no direct correlation between corporate governance standards and the market value of the stock.

The entire scenario boils down to the following questions: Is there a need for a central regulatory authority to oversee corporate governance issues? Does the board perform in the larger interest of the shareholders? Are the independent directors actually non-partisan? Do the companies have adequate risk management systems in place? What should be the board’s approach towards CSR? It is to address these issues, with the aim of obtaining solutions to these questions, we look forward to SIM’ergence ’19.

Insolvency and Bankruptcy Code, 2016


Introduction:

IBC was passed by the Parliament of India on May 11, 2016 and received assent of President on May 28, 2016. Thus, the provisions of various laws related to resolution of bankruptcy in India Inc. like SARFAESI Act (2002), RDDBFI Act (1993), The Presidency Towns Insolvency Act (1909), The Provincial Insolvency Act (1920), Chapter 19 & 20 of The Companies Act (2013) etc. were replaced by Insolvency and Bankruptcy Code (2016). This was the birth of Insolvency and Bankruptcy Board, an independent body dedicated entirely on administration and resolution of Insolvency and Bankruptcy cases-responsible for the ongoing NPA crisis in the country.

IBC was need of the hour to cope up with the rising NPA’s in the country as they led to liquidity crunch thus hampering growth of the country. The gross NPA of Indian banks increased from Rs 53,917 crores in Sept 2008 to Rs 341,641 crores in Sept 2015 which became a matter of concern for the Indian financial system.

IBC- Two Years down the line:

A few cases resolved by IBC gave unbelievable results. The takeover of Bhushan Steel by Tata Steel gave unexpected results in all elements of insolvency. Bhushan Steel is a plant with capacity of 5 million tonnes of steel per annum but due to the financial distress was producing only 3 million tonnes per annum. Now under the management of Tata Steel, it is expected to produce output to its maximum capacity. Also the recovery rate for creditors was an impressive 63%. Another flabbergasting resolution was in the case of Sharon Bio Medicine, where even the unsecured creditors recovered about 98% of their dues.

On the other hand, a lot of cases gave unpleasant surprises which include Jaypee Infratech, Binani Cement, Essar Steel etc. The biggest trouble for IBC revolves around 12 cases identified by RBI in the process. These consists of some largest companies in the country accounting for about 25% of the total defaults (by value) filed with NCLT under IBC. So the resolution process of these cases is viewed to be as the test for success or failure of IBC.

Until now, 5 out of these 12 cases have been resolved with average period of resolution at 333 days The resolution was as follows:

  • Lanco Infrastructure Ltd. was headed for liquidation
  • Amtek Auto Ltd. was acquired by Liberty House
  • Monnet Ispat Ltd. was acquired by JSW Steel Ltd.
  • Bhushan Steel Ltd. was acquired by Tata Steel. Ltd.
  • Electrosteel Steels Ltd. was acquired by Vedanta Ltd.

In the remaining 7 cases, more than 415 days have passed but no resolution is achieved and neither there seems a way working for them. This period has far exceeded the timeline of maximum 270 days prescribed by IBC. Also, according to IBC, if the resolution process is not completed within a span of 270 days, the company should be subjected to liquidation. But neither of these 7 companies have been directed to the process of liquidation.

As mentioned above, the IBC seems to be a master piece on paper but its implementation in real life scenarios does not appear to be much satisfying.

In a span of two years after introduction of IBC in 2016, over 1,322 cases have been admitted under CIRP against the corporate debtors according to the data by Insolvency Bankruptcy Board of India (IBBI). Among these, 91 cases were closed upon ‘appeal and review’, 260 companies have been ordered for liquidation and only 66 cases have been resolved under IBC until now. About 905 cases are still ongoing with much of them still to be resolved even after the maximum stipulated period of 270 days.

In 66 resolution cases, the realization by creditors is around Rs. 80,000 crores against the amount settled in cases disposed at pre-admission stage around Rs. 2.02 lakh crores. This by itself undermines the significance of the resources and time spent in the resolution process under IBC.

The major issue in implementation of IBC appears to be non-adherence of strict deadline of maximum 270 days to resolve the CIRP’s. According to the experts, this is the biggest hindrance in the implementation of IBC.

In Numbers

Status of Corporate Insolvency Resolution Process

Status No. of firms
Admitted 1322
Closed on appeal/review 91
Closed by resolution 66
Closed on liquidation 260
Ongoing 905
>270 days 268
>180 days <= 270 days 180
>90 days <= 180 days 159
<= 90 days 298

    (Source: IBBI)

From the above table we can see that among ongoing 905 cases, 268 are still ongoing above the time limit of 270 days and 180 are running on the extended period of 90 days.

The major reason for liquidation of 259 companies as against the resolution of only 52 companies is that the resolution value for most of the companies is less than their liquidation value. This means that the selling of the assets of these companies would fetch more value than finding a new buyer for them.

According to IBBI, about 288 companies have filed for voluntary liquidation under IBC. Most of them have stated non-operations and commercial unviability to be the reasons for filing CIRP’s. Even the liquidation process of these companies seems to take longer time than expected as over 100 companies which filed for voluntary liquidation required a span of time between 90 to 270 days before the final report was submitted to IBBI.

Short-fall of NCLT:

The major reason for the inefficiency of NCLT in resolving the CIRP’s within stipulated timeline is the lack of manpower to handle the weight of its workload. With over 10,000 of registered cases ranging from simple to complicated cases, NCLT handles bankruptcy, insolvency and also other company law cases.

While the sanctioned strength of NCLT is of 62 members, NCLT has only 28 members all across the country to hear all these cases resulting in failure to cope up with the burden of insolvency cases that forms 40% of its workload. And as the government is not able to fill the vacant seats, the plan to setup special benches for insolvency cases has taken a back seat. Two such special benches have been setup at Cuttack and Kochi, but the plan to setup more such eight benches is far away from the sight.

Flaws and Evolution of IBC with time:

With IBC being relatively a young legislation, a lot of loopholes were found and exploited by the promoters of the defaulter entities. While drafting IBC, the concerned team has taken care to leave as little ambiguity as possible in the wordings. But the real test of a legislation takes place once it is introduced and starts getting applied on the real-life scenarios.

One such loophole that was exploited by the promoters was by bidding for their insolvent companies through other entities or parties related to them. This flaw directly used to pierce the heart of IBC by giving the control of the debtor company again in the hands of the same promoter responsible for bankruptcy. This flaw was corrected by the government by passing an ordinance on 17th November 2018 making it difficult for promoters or related parties to bid without repaying their existing defaults. The ordinance also prohibits individuals or entities other than those related to promoters and possess a stake in entities responsible for NPA’s in bidding unless the payments they have defaulted upon are cleared.

This move came after a question rose on the eligibility of the two bidders for Essar Steel viz. Archelor Mittal and Numetal. The bid by Arcelor Mittal came under the scrutiny because the company had a stake in Uttam Galva Steel which is an NPA (though the stake was sold by Arcelor Mittal before submitting the bid). Also, Archelor Mittal had a stake in Kazakstan’s KazStroy Services, which in turn was the promoter of an NPA, KSS Petron. On the other hand, the bid by Numetal came under cloud as it is related to Rewant Ruia, a member of the promoter’s family.

This was only one among flaws in the IBC which was corrected by government but yet a lot of loopholes are to be revamped to prohibit their exploitation by the promoters and related parties. These include rebidding of second highest bidder resulting in extension of resolution timeline, treatment of real estate defaults in the same manner as other entities, IP’s giving information to the rejected bidder etc.

Conclusion:

From the data and facts discussed above, we can conclude that IBC seems to be a masterpiece in theory but in practical sense it is still in the nascent stage. A lot of improvement in defining the wordings and removing the ambiguity in IBC is to be done to prohibit exploitation of the loopholes by the benefiting parties. The major challenge that IBC faces is the non-adherence of the strict deadlines for resolution of CIRP. Also in most of the cases it is seen that the liquidation process provides more value to the creditors than the resolution process resulting in wastage of time and resources involved in the resolution process.

But as IBC evolves along with time, it can become a sword with sharp edges that’ll cut-off the parasite of NPA’s stick to the Indian Financial System.

(Written by Dhiraj Jadhav, First-Year MMS)

Get then on your terms!


Being a fruitful key mediator requires determined personal responsibility, alongside an overwhelming portion of camouflaging. Or on the other hand so go the typical presumptions about arranging. Individuals sense that to win, they should assume a specific job—like great cop/terrible cop — or essentially be the title after their name (administrator, business person, sales representative). In any case, imagine a scenario in which you could make better outcomes, increment esteem, and reinforce connections just by acting naturally.
Being your certified, incorporated self while arranging isn’t simple.
Separating the dividers between the jobs you figure you ought to and shouldn’t play in business implies coordinating the horde jobs — the expert and the individual — you go up against throughout everyday life: official, business person, legal counselor, parent, life partner, competitor, companion, and incalculable others. This methodology isn’t just about making you increasingly agreeable when you arrange (despite the fact that that happens as well); it’s tied in with taking advantage of a plenitude of assets and creating more noteworthy esteem. By arranging really:
You’ll upgrade your inventiveness. In being authentic, you approach a more extensive collection of learning and insight. Joining and incorporating your different jobs starts new examples of musings, sentiments, and viewpoints. This energizes your inventiveness and capacity to discover imaginative arrangements, since you’re never again obliged by the experience of a solitary job. Maybe the answer for a testing merger isn’t found in your official tool kit yet in, state, your experience as a specialist, tending to tables as an understudy, or a circumstance you experienced on a movement experience.
You’ll exhibit special and ground-breaking qualities. Each job you play in life brings out various qualities and capacities. You might neglect these when you’re in a business setting. For instance, as a soccer mentor, you might be quiet with a tyke when she commits an error, yet at work you may expect that such persistence and comprehension would depict you as too delicate a pioneer. Turn this on its head: your qualities of tolerance and comprehension might be actually what you have to effectively consult with somebody who needs a raise, or to convey somebody around who has neglected to meet an undertaking due date.
You’ll line up with your ethical compass. Your qualities win all through work. In an arrangement, you may feel compelled to settle on a specific choice since it is the means by which individuals “play the diversion.” However, the choice and its results may struggle with your morals. One approach to consider it is whether you are a similar individual Monday morning at work as you were throughout the end of the week at your neighborhood grill. This sort of reflection can secure and enable you. By staying tuned to the majority of your qualities, you’ll perceive when clashes emerge. At that point you’ll have the capacity to reassess and reestablish your trust in encircling a reaction that you have faith in. 
 
You’ll have the capacity to accomplish your objectives and construct key connections. When you enter an arrangement, either speaking to yourself or your association, you have an objective; in this way, obviously, does your partner. Also, you require each other to accomplish your objectives. In its embodiment, arrangement is as much about collaboration for what it’s worth about rivalry. Instinctively, individuals think about these as fundamentally unrelated — it is possible that you participate or you contend — or at most as consecutive methodologies: first you collaborate; at that point you contend. Arranging really enables you to acknowledge the intrinsic pressure in at the same time collaborating and contending. For instance, you and I connect the cost of an item you are pitching to me (where a dollar you gain is a dollar I lose) to an activity that conveys more an incentive to one of us (painting the white item blue may bring about a slight expense to you, however have enormous incentive to me). In the event that together we go blue, I am sharing a portion of that esteem by paying you a more expensive rate. We are coordinating to go blue while contending on the most proficient method to separate the relative benefits blue produces. Furthermore, recognizing our opposition while seeing each other as authentic accomplices fortifies our relationship. 
 
Being your certifiable, incorporated self while arranging isn’t simple. You are adapted to be one individual at your morning group meeting, another with your governing body, but then another at home. Like most profitable interests throughout everyday life, incorporating your jobs at work and in your own life takes discipline and has enthusiastic underpinnings. These feelings can work for you when you consult from the back to front. Being authentic methods you get the chance to be the best you, understanding more noteworthy accomplishment on all dimensions — money related, individual, and expert.

MRUDGANDHA


The Student Social Responsibility Committee brings to you our new initiative ‘MRUDGANDHA’, with the theme of “Attaining Equalities”.

This year we have partnered with TEACH (Training & Education for the Hearing Impaired) – an NGO which was established with an aim to ensure equal and comprehensive post-schooling educational opportunities for the hearing impaired.

TEACH

Training and Educational Center for Hearing impaired (TEACH) is a registered not-for profit organization that has created a facility of Higher education for the deaf & also initiated a School Transformation Project for the schools for deaf in Mumbai. TEACH was founded in 2016 and since then enabled a substantial number deaf children to attain education.

Vision – Outreaching Education

TEACH aims to be a Model Institute for Deaf children in India, where a deaf child is empowered with skills and knowledge to become self-dependent.

Project Outline

TEACH has designed two programs under its educational umbrella. The core program is a “Higher Educational Institute” and “School Transformation Project” is a facilitator to its Higher Education.

  • Higher Educational Institute: TEACH is a pioneer in setting up a higher educational institute for deaf in Mumbai. Among the other NGOs working in higher education space, TEACH has the highest number (71) of students in its facility and that’s only because of the focus on “Overall Development”. TEACH operates in two locations, Kalina (Mumbai) and Seawoods Darave (Navi Mumbai).

Features of Higher Educational Institute:

  • Specially designed curriculum of English and Math for deaf children

Jio GenNext seminar, by Mr. Amey Mashelkar


We recently had a chance to attend Jio GenNext seminar, conducted by Mr. Amey Mashelkar. In the seminar, we got to learn how start-ups are helped by corporates to grow. A few important things that were discussed that were a great learning have been listed below:

1. It is advisable that in the early phase, one should not go for a large scale start-up. It is very important to check the idea first, and the way forward for this can be by taking your start-up as a project in the initial days and then checking the scalability of the idea. Taking a start-up as a project refers to the fact that start-ups should be checked with small customers and response of the customers should be noted down. This gives two advantages, you do not feel the stress of proving your revenue returns to others and this way will be more verified to go forward.

2. Every entrepreneur needs to remember that if he is asking for funds from any person or venture except his/her parents, they expect the return to be three times of the funding given. This may lead to an increased stress of repeatedly proving the worth of the start- up. Therefore, funding should be majorly approached when we have actually seen the growth in the business.

3. When in the initial days of developing the start-up ideas, it is not the presentation skills or the start-up idea that matters to venture capitalists. All they look in an entrepreneur is the passion for the idea i.e. is the entrepreneur of the caliber that he will not give up on his plans.

4. Shark tank is something that people need to watch especially entrepreneurs.

India’s potential solution to rising need and cost of fossil fuels


Recently in September 2018, we saw oil prices reaching a four-year high at $ 81.20/barrel. This resulted in fall of the Indian rupee and thus widening of India’s trade deficit to $50 billion from $ 32.5 billion a year ago. Clearly, it shows how badly the price of crude oil can impact the Indian economy.

To our relief, the prices of crude oil are reduced now but OPEC’s target is to stretch them to $70.So in order to curb the problem of rising consumption and prices of crude oil, the government has fixed an official target to cut the oil imports by 10% in the next 4 years.

One of the potential solutions that the government can look into is the blending of ethanol with petrol. This is not something new to the world which is being done successfully by Brazil.

Brazil is the world’s largest producer and exporter of sugar.  But due to lower prices and a global surplus, it faced with its over-stocking of the sugar. Also owing to the rising prices of crude oil, Brazil started running its wheels on ethanol blended petrol and also on pure ethanol. In fact, the vehicles running on blended petrol now constitute 80% of the country’s light vehicle float. To achieve this, Brazilian sugar mills used 64% of the sugarcane crop grown in 2018 to produce ethanol. Thus, through a single solution, Brazil solved the problem of high sugar surplus as well as depleting foreign reserves due to rising prices of crude oil.

In the year 2018, India will produce about 35 million tonnes of sugar as against 32.5 million tonnes of sugar produced in 2017. As average yearly consumption of sugar lies at 26 million tonnes, about 9 million tonnes of the surplus will remain over-stocked in the hands of the Indian government.

As India produces low-quality white sugar, the demand for Indian sugar in the international market is low.  Thus the scope of exporting entire surplus is not great and an alternative needs to be developed.

With such a huge pile of surplus sugar and pressure of dynamic oil prices, India can follow the path of Brazil and can tackle the issue wisely.

(Written by Dhiraj Jadhav, First-Year MMS)

Elections and Economic Policy


The Code of Conduct under the Election Commission of India states that government cannot announce new projects, programs, concessions or financial grants to influence the voters a month before the actual election date. But even this six month period leading up to the elections actually might define the way forward for our country in the coming years. And as always the policy shakeup or amendments that might be introduced will affect the economy in a big way.

The fallacy of incumbent governments

But why is it that in emerging economies with democratic regimes, incumbent governments lose their focus? Somehow always the priorities shift from striving towards a long term goal to a short term fix that enhances their chances of re-election. Venezuela miserably failed to continue social reforms in times of economic crisis. Money that was supposed to target inflation and shortages was instead spent on social justice, social welfare, education and military recruiting.

Granted that such policies are signs of a developing economy, but really at what cost? If one wants to look at India, don’t look back more than 2014. The UPA government like any third world incumbent government depended on tax cuts and subsidies. But they were unsuccessful in tackling the NDA which ran on growth and good governance. They failed then, and now, almost five years later history is repeating itself, albeit with the roles somewhat reversed.  

The recent sparring between the government and the RBI governor was a result of different viewpoints. RBI with its long term outlook and a strategic plan to keep inflation in check had every right to exercise its authority. But with elections just around the corner the government cannot afford to be cavalier about its chances of re-election. Hounding the RBI for not resolving the liquidity crisis much faster was at best not thought rationally. Being the central bank, it was RBI’s responsibility to look for long term goals and government criticism was something like punishing a regulator for showing too much regulatory zeal.

The difference of opinion and strategic plans could not be more evident and the divergence speaks for itself. All of this is done to sway undecided voters which seems like a harsh price to pay for the economy.

Fiscal Expenditure

The most important weapon in the government’s arsenal is however fiscal spending. Proven and tested, fiscal spending is a safe option to go for. Not only is the fiscal spending greater but the amount of tax cuts and subsidies provided also increase. Now taking into consideration the recent volatility in the markets, the NDA government has also to some extent given in to populism to counter anti incumbency and lift market sentiment. Looking back, we can find that in seven out of the last eleven times, the fiscal spending increased significantly in election years. It has been quite well known in academic circles and policy makers have also paid attention to these theories of increased government expenditure that will boost employment and market sentiment.

Only in the years FY-84, FY-99 and FY-09 did the incumbent government was re-elected to power. The last incumbent government to be successful was the UPA I regime which had already embarked on an expansionary fiscal policy due to the 2008 global economic meltdown. This regime had waived off farm loans, expanded social security through schemes under National Rural Employment Guarantee Act (NREGA) and implemented revised salaries of central public servants through recommendations from the Sixth Pay Commission.

Overall one can see that incumbent governments have fallen prey to implementing populist policies that might endanger a more stabilized and gradual approach to solving certain situations. The current regime however has proven itself to be par with the best of regimes in terms of implementing a number of reforms like GST, FAME and Demonetization. However the success or failure from the perspective of a political analyst will only depend on the chances of re-election which necessarily does not mean strategic long term goals, but short term appeasements in alignment with the populist platform.  

Market concerns

A major factor to consider at the time of elections is market sentiment and investor confidence. Dalal street, already well known for its knee jerk reactions to election outcomes, showed it again last Monday why confidence among investors is key. Even the news from exit polls that the incumbent government at the centre might be in for a shock defeat was enough to make equity indices plummet by two percent.

Investors care less about which government is in power, but what they fear above everything else is uncertainty. For investors it is much easy to adjust to the idea of there being a unified chain of command and smooth transition from one ruling regime to another. But this situation rarely happens, as often the new regime resorts to its new agenda and it will differ from the populist policies of the previous years.

In conclusion, it is clear that elections do impact the macroeconomic scenario in the country. These factors however don’t affect the economy directly, but does more so by influencing policy decisions that are undertaken. The general elections in India will be held in April 2019, how the markets and economy reacts to the results, remains to be seen.

Interaction with Alumni


On 5th January 2019, The Alumni Committee of SIMSREE held an event called “Interaction with Alumni (IWA)” for the very first time. The session involved a panel discussion conducted by the alums of the college which was then followed by a Q&A session. The eminent guests for the event were the alumni of the Batch of 2002.  

  • Mr. Nimesh Mehta acted as the moderator for the discussion. Sir is Director & Head-Sales Products and Customer Service at ASK Investment Managers Pvt. Ltd.

The panel involved-

The session was intended towards solving the queries of the students and guiding them regarding MBA and future aspects. It started with the panelists addressing the students’ doubts about choosing their specialization. They shared with the students their own journey. They spoke about the importance of analyzing oneself. It’s your skill sets and what you can do and what you can’t, that should help determine your specialization. While it could be known for some, one could also go through the process of elimination while choosing a specialization.

They further dived into what goes into choosing a role within a specialization and spoke about how your previous educational background could align with your future goals. For example, being in IT consultancy with an engineering background could give you an edge in your career. Regarding marketing and sales as a specialization, they stressed upon the importance of on-field work. The exposure and learning a student could get through on-field work is tremendous.  The panel further guided the students about the certifications they can do in order to upgrade their skills and stay competitive in the corporate world. They suggested students to participate in various events, case study competitions and take courses like Wealth Management course by CIEL, NISM courses etc. They also stressed upon the importance of reading in order to broaden your knowledge base.

The topic they later talked about was Entrepreneurship. Every business starts as an idea. Being an entrepreneur takes an incredible amount of work and dedication. The timing for launching that idea also plays an important role. It should not be done before or after the time. The timing should be accurate. They explained this concept through the example of Airbnb; how Airbnb was launched right after the 2008 crisis when numerous people lost their jobs, renting a part of their house helped them earn a living.

Towards the end of the session, the platform was open for further questions from the students which the guests addressed to diligently. There is no success formula, one should have an open mindset, keep on learning from your mistakes and strive harder to achieve better in life.

The Alumni Committee would like to extend a heartfelt gratitude to the alumni of 2002 for taking out time from their busy schedule, sharing their knowledge and insights, and addressing the students’ doubts and queries regarding the MBA journey.