The Future of BSNL and MTNL: Can India’s State Telecom Survive a Three-Player Private Market

A case study of BSNL and MTNL, India's state owned telecom operators. Covers their founding, three government revival packages totalling over Rs 3.2 lakh crore, MTNL's bond defaults through 2026, BSNL's 4G turnaround, the January 2025 operational merger, and what state telecom survival means for competition against the Jio, Airtel, and Vodafone Idea private oligopoly.

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Sahara vs SEBI: India’s Rs 24,000 Crore Investor Refund That Still Has Not Fully Happened

A case study of the Sahara India Pariwar vs SEBI dispute. Covers the 1978 founding by Subrata Roy, the Rs 17,656 crore OFCD collection from three crore investors, the August 31 2012 Supreme Court verdict, Subrata Roy's arrest and Tihar imprisonment, the Rs 24,979.67 crore refund account, the March 2023 CRCS portal, and the state of refunds as of July 2025 with Rs 5,139.23 crore disbursed to 27.3 lakh depositors out of 1.35 crore.

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The Anil Ambani Collapse: Reliance Group’s Debt Crisis and SEBI’s Five-Year Ban

A case study of the Anil Ambani led Reliance Group collapse. Covers the 2005 demerger from Reliance Industries, the Reliance Communications and Reliance Capital insolvencies, SEBI's August 2024 order banning Ambani for five years and fining him Rs 25 crore for diverting funds from Reliance Home Finance, and the connection between ADAG group exposure and the bad loans that affected Yes Bank.

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Sun Pharma’s $416 Million Oncology Bet: UNLOXCYT, Checkpoint Therapeutics, and the Building of India’s First Immuno-Oncology Multinational

Sun Pharma paid $355 million upfront for Checkpoint Therapeutics, acquiring UNLOXCYT, the first and only FDA-approved PD-L1 inhibitor for advanced skin cancer. A complete, fact-checked account of the deal, the science, the strategy, and what Dilip Shanghvi is building.

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Gensol Engineering Fraud and Insolvency: When a Listed Company Becomes a Promoter’s Personal Bank

A complete case study of the Gensol Engineering collapse: from its 2012 founding and 2019 BSE listing, to SEBI's April 15, 2025 interim order finding Rs 262 crore diverted from EV loans, the NCLT Ahmedabad admission on June 13, 2025, the July 30 SEBI confirmatory order, and the BluSmart collapse. Covers SEBI, NCLT, MCA, and RBI actions simultaneously.

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Vodafone Idea: India’s Most Indebted Telecom Operator, the AGR Crisis, and the Long Road Back

A case study of Vodafone Idea Limited (Vi). Covers the Idea Cellular founding in 1995, Vodafone's entry via Hutch in 2007, the August 2018 merger, the Supreme Court's October 2019 AGR verdict, the government's equity conversion to 48.99%, the AGR dues reduction to Rs 64,046 crore in April 2026, and Q4 FY2026 results showing ARPU of Rs 190 and the first positive subscriber additions since the crisis began.

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Jaiprakash Associates Insolvency: Five Bidders, Rs 57,185 Crore in Debt, and the Adani Takeover

A complete analysis of the Jaiprakash Associates (JAL) insolvency: from the Jaypee Group's 1979 founding, Rs 75,000 crore debt accumulation, RBI's 2017 defaulter list, the June 2024 CIRP admission, 28 expressions of interest, 6 bidders, the Adani vs Vedanta battle, NCLT approval of the Rs 14,535 crore plan on March 17, 2026, NCLAT dismissal of Vedanta's challenge on May 4, 2026, and Adani's first Rs 6,000 crore tranche paid on May 23, 2026.

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Tata Capital IPO Case Study: India’s Largest NBFC Listing of 2025, Rs 15,512 Crore, Flat Debut, and What Investors Need to Know Now

Tata Capital's Rs 15,512 crore IPO, the largest public issue of 2025, listed flat at Rs 330 on October 13, 2025. Full case study: RBI upper-layer NBFC mandate, DRHP details, price band Rs 310-326, subscription 1.01x overall, QIB 3.42x, Day 1 performance, share price journey to Rs 326 as of June 2026, FY25 financials, loan book Rs 2.21 lakh crore, and what the stock means for long-term investors.

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The IL&FS Crisis: How a AAA Rated Lender Defaulted and Triggered India’s Shadow Banking Meltdown

A case study of the IL&FS crisis. Covers the company's founding in 1987, its three decades as a systemically important infrastructure lender, the September 2018 chain of defaults on Rs 99,355 crore of debt, the government takeover and Uday Kotak led board, the green amber red resolution framework, the SFIO investigation, and the seven year resolution process that had recovered Rs 48,463 crore by September 2025.

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Jet Airways Insolvency and the Jalan-Kalrock Consortium: Why an Approved Resolution Plan Still Failed to Fly

A complete interactive case study of the Jet Airways insolvency. From the April 2019 shutdown to the June 2021 NCLT-approved resolution plan, the DGCA slot dispute, JKC's Rs 350 crore payment battle, and the Supreme Court's November 7, 2024 liquidation order under Article 142.

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Zerodha: How a Rs 2,000 Startup Built India’s Most Profitable Fintech Without a Single Rupee of VC Money

A comprehensive case study on Zerodha. From its 2010 founding in Bengaluru by Nithin and Nikhil Kamath, the flat-fee disruption of Indian broking, the Kite platform, Rainmatter, FY24 consolidated revenue of Rs 9,993 crore and PAT of Rs 5,496 crore, the FY25 decline due to SEBI's F&O circular, and where the business stands today.

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Tata Group Case Study: 158 Years of Nation-Building, Global Acquisitions, and the Anatomy of India’s Most Trusted Conglomerate

A comprehensive case study of the Tata Group: from Jamsetji Tata's 1868 trading company to a USD 180 billion conglomerate spanning IT, steel, automobiles, aviation, hospitality, FMCG, power, and financial services. Covers governance structure, landmark acquisitions, FY2025 financials of all major subsidiaries, and the strategic outlook for 2026 and beyond.

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The PMC Bank Scam: How 21,049 Fake Loan Accounts Brought Down a Cooperative Bank

A case study of the Punjab and Maharashtra Cooperative Bank scam. Covers the bank's history, its Rs 6,500 crore exposure to HDIL hidden through 21,049 fictitious loan accounts, the September 2019 RBI moratorium, the deposit withdrawal crisis, the arrests of Rakesh and Sarang Wadhawan, Joy Thomas, and Waryam Singh, and the final resolution through amalgamation with Unity Small Finance Bank.

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