Corporate restructuring : enhancing the shareholder value

Cover
Contents
PART 1: Concepts
	Chapter 1: Wealth Creation for Shareholders and Managerial Responsibility
		1.1 The Changing World of Business
		1.2 Firm Value and National Wealth
		1.3 The Concept and Meaning of Value and Value Drivers
		1.4 Sources of Value
		1.5 Designing and Implementing Context for Value Creation
		1.6 How to Guard Against Failure to Maximise Shareholder Value
		1.7 Experiences of National and International Companies
			References
	Chapter 2: Enhancing Corporate and Shareholder Value through Corporate Restructuring
		2.1 Introduction
		2.2 Corporate Restructuring: Its Meaning and Scope
		2.3 Corporate Restructuring and Shareholder Value
		2.4 Need for Periodic Restructuring
		2.5 Benefits of Corporate Restructuring
		2.6 Things to Remember
			References
	Chapter 3: Corporate Restructuring—Concepts and Framework
		3.1 Introduction
		3.2 Portfolio and Asset Restructuring
		3.3 Financial Engineering
		3.4 Internal Streamlining and Business Process Re-engineering
		3.5 Conclusion
			Acknowledgments
				References
	Chapter 4: Corporate Restructuring—Key Implementation Issues
		4.1 Introduction
		4.2 Implementation of M&A
		4.3 Internal Streamlining and Business Process Re-engineering
		4.4 Financial Engineering
		4.5 Conclusion
			References
	Chapter 5: Corporate Restructuring—The Indian Experience
		5.1 Introduction
		5.2 Corporate Restructuring—Pre-1992
		5.3 Corporate Restructuring—Post-1992
		5.4 Enhancement of Shareholder Value and Role of Corporate Restructuring—The Indian Experience
			References
	Chapter 6: Indian Legal Issues in Corporate Restructuring
		6.1 Introduction
		6.2 Mergers and Amalgamations (Through Exchange of Shares)
		6.3 Acquisition/Divestment of a Business as a Going Concern
		6.4 Acquisition of a Company through Purchase of Shares Leading to Change in Control
		6.5 Spin-off of a Division into a Separate Company (as Joint Venture/Wholly Owned Subsidiary/ Subsidiary Associate Company)
		6.6 Sale of Controlling Shares in Subsidiaries/Associate Company
		6.7 Amalgamation of a Healthy Company (Transferor) with a Sick Company (Transferee)
		6.8 Restructuring within Family Business
		6.9 Restructuring under Board for Industrial Finance and Reconstruction (BIFR)
		6.10 Financial Engineering
		6.11 Internal Streamlining and Business Process Re-engineering
		6.12 Conclusion
			References
	Chapter 7: Market for Corporate Control
		7.1 Introduction
		7.2 Concept of Corporate Control
		7.3 Market for Corporate Control
		7.4 Making the Market for Corporate Control Efficient and Transparent
		7.5 Defense Against Takeover
		7.6 Conclusion
			References
PART II Corporate Restructuring: Managerial Context and Issues Corporate Restructuring: Some Illustrations of Select Managerial Context and Issues
	Nugget 1
		Cosmos and Falcon Ltd.
		Disinvestment and Strategic Acquisition
	Nugget 2
		Indian Industries Group
		Merger for Restructuring
	Nugget 3
		Sterling Industries (India) Ltd. (SIL)
		Hostile Takeover and Competitive Bidding
	Nugget 4
		Takeover of South Indian Cement by Universal Cement
		Application of SEBI Takeover Code
	Nugget 5
		Drug Manufacturers Ltd. (DML)
		Merger for Maximising Shareholder Value
	Nugget 6
		Rainbow Metal Ltd.
		Disinvestment through Joint Venture and Preferential Allotment
	Nugget 7
		Petroleum Products India Ltd.
		Strategic Disinvestment through Structured Deals
	Nugget 8
		Calcutta Metals Ltd.
		Asset Hive-off and Strategic Disinvestment through Joint Venture
	Nugget 9
		Potent Company Ltd.
		Disinvestment and Financial Restructuring
	Nugget 10
		Metals and Alloys Ltd.
		Disinvestment and Financial Restructuring through Equity-Debt Swap
	Nugget 11
		Best Cement Company Ltd.
		Share Buyback to Augment Shareholder Value
	Nugget 12
		Sun and Glory Ltd.
		Financial Restructuring through Consolidation
	Nugget 13
		Services India Ltd.
		Structuring to Maximise Shareholder Value
	Nugget 14
		Popular Housing Finance Ltd.
		Turnaround Strategy
	Nugget 15
		Power and Fuel Companies
		Proposal to Securitise Receivables
	Nugget 16
		Generator Company Ltd.
		Financial Restructuring to Augment Shareholder Value
	Nugget 17
		International Bank
		Risk Management to Maximise Shareholder Value
	Nugget 18
		The Investment Bank Ltd.
		Financial Derivatives to Maximise Shareholder Value
	Nugget 19
		Smart Bank Ltd.
		Innovative Structuring to Maximise Shareholder Value
	Nugget 20
		International Airlines Ltd.
		Structured Deals using Credit Enhancement and Negative Correlation
	Nugget 21
		Smart Company Ltd.
		Funding Options to Augment Shareholder Value
	Nugget 22
		Giant Company Ltd.
		Restructuring through Debt-Equity Swap
	Nugget 23
		Radiant Company Ltd.
		Project Funding Option to Maximise Shareholder Value
	Nugget 24
		Sankar Wonders Ltd. (SWL)
		Restructuring for Turnaround Strategy
	Nugget 25
		Oil and Gas Ltd. (OGL)
		Innovative Structure to Maximise Shareholder Value
	Nugget 26
		KMP Finance and Merchant Bankers Ltd.
		Split-up to Maximise Shareholder Value
	Nugget 27
		Export Import Company Ltd.
		Financial Derivative to Maximise Shareholder Value
	Nugget 28
		Structured Deal to Raise Funds for a Less Developed Country
	Nugget 29
		Sunrise Company Ltd.
		Debt Buyback to Maximise Shareholder Value
	Nugget 30
		Petrochemicals India Ltd.
		Credit Enhancement through Structured Deals
	Nugget 31
		Commercial Bank of India
		Financial Restructuring through Asset Swap
	Nugget 32
		Western Industries Ltd.
		Exchange Risk Management to Enhance Shareholder Value
	Nugget 33
		Sound Engineers Ltd.
		Turnaround through Financial and Business Re-engineering
	Nugget 34
		Behemoth Industries Ltd.
		Restructuring through Financial and Business Re-engineering
PART III Corporate Restructuring: Ethical Considerations Chapter 8: Corporate Restructuring and Ethical Considerations
	8.1 Introduction
	8.2 Significance of Ethical Principles in Corporate Restructuring
	8.3 Towards a New Paradigm: Some Thoughts for the Future
	8.4 Building Ethical Principles into Corporate Restructuring Decisions
	8.5 Conclusion
		References
Authors’ Observations on the Nuggets
Index