Economic Concentration Through Inter Corporate Investments

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Himalaya Publishing House, 1980 - Big business - 232 pages
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Contents

From the author HI List of tables i
1
an overview
3
Scope and significance of the present study
4
A preview of the study
5
Statistical tables
6
The legal checks on economic concentration through intercorporate investments
7
The emergence of relevant company law regu lations
9
Post Amendment Act 1936 developments
11
Walchand
87
Kirloskar
88
Mahindra and Mahindra
89
T V Sundram lyengar
90
Jardine Henderson
91
Killick
92
Andrew Yule
93
Simpson
94

LIST OF TABLES
12
its recommendations
13
The Companies Act 1956
15
Sastri Committee
16
Vivian Bose Commissionan ineffectual exercise
17
tackling nonlegal difficulties
18
Amendment Act 1974 and after
19
The loopholes left unplugged some remedies
23
Concluding remarks
31
a measure to curb mono polies
32
the catalyst
34
the MRTP Act
37
Intercorporate investments affected by the MRTP Act
39
Intercorporate investments unaffected by the MRTP Act
40
a lacuna
43
suggestions to over come them
44
Some criticisms of the Act
46
paving way for red tapisiu and bureaucratic exploitation
48
Economic concentration through intercorpo rate investments whether a myth or realty?
51
Methodology and coverage
53
Choice ot sample
54
Selection of business houses
55
Logic behind the sample selection and metho Jo logy adopted
56
Micro study of the selected houses
66
Tata
70
Mafatlal
73
Martin Burn
74
Bangur
75
Thapar
79
Shriram
83
K Singhania
84
Rallis
95
Ramakrishna
96
R Naidu
97
Macro study of the selected houses
118
Significance of intercorporate investments
120
Controlling pattern of industries through inter corporate investments
121
Controlling pattern by sizeranges through inter corporate investments
123
Controlling pattern of public and private com panies through intercorporate investments
125
Controlling pattern of M and N companies through intercorporate investments
126
Areas identified for Government surveillance
137
Relative share of industrial companies and finan
138
cing and servicing companies in total intercorpo rate investments
139
Sizewise pattern of investments in corporate secu rities as percentage of net growth
143
Relative share of smaller companies and giant companies in total intercorporate investments
144
Investment pattern of M and N companies
146
Investment pattern of public and private companies
147
Investment in corporate securities financed out of borrowed funds
148
Concluding remarks
150
recommendations and counter recommendations
176
Hypothetically testing of Sachar Committee recom mendations
178
Regulatory framework abroad
179
specific suggestions
185
Recapitulation
195
the diagnosis and the curve
197
Concentration of economic power
198
Intercorporate investments in equity shares
200
Recommendations in retrospect
206
The path to equity and social justice
215
Select bibliography
226
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