Industry House Chairman’s letter to CEOs and COOs on Recession

One of India’s largest industry house Chairman has warned his CEOs of the impending recession and has suggested them to consider following measures:

  • Draw down all loans/lines of credits from banks and institutions to max. extent possible
  • Conservation of cash to max. extent possible
  • Expeditiously finalize pending loan and funding agreements, even if they involve accepting higher interest rates.
  • Put on hold any plans for acquisition (unless strategically critical)
  • Aggressively implement restructuring of internal cost framework
  • Defer non-essential capex and capacity extension.

(click on the image for a better resolution)

While it’s not really important to disclose the company name, the only context about them is that they have the ability to raise funds in no minutes – and the chairman is now talking about lines of credits/difficulty in raising funds/defer acquisition plans etc.

Startups – brace yourself for some tough times!

Leave your vote

0 points
Upvote Downvote


You May Also Like

Micromax CEO Reiterates That The Company Isn't Up For Grabs

Micromax CEO Vineet Tanjea on Tuesday clarified that none of the company’s founders were looking to pull out and that the company wasn’t up for sale. The announcement follows reports suggesting that SoftBank is looking to invest as much as $1 billion in Micromax for a 20% stake, at a $5 billion valuation. He added that the company was only looking to make strategic partnerships, in order to help it grow.
View Post