Big Opportunity cost to FTIL

In an interview with few media channels, FTIL CEO & MD Mr. Prashant Desai, highlighted the predicament that FTIL as a group was facing in the light of the recent legal actions against itself. The biggest of the this predicament was not being able to contribute towards the Digital India movement which could have had great momentum considering FTIL’s expertise in the technology domain. The most important loss of all in the losses that FTIL had to go through since the NSEL crisis was the Opportunity Cost which cannot be calculated in sheer numbers.

The statement that the company was going through rough time/ dire straits is probably an understatement because of the kind of action that has meted against FTIL despite there being no money trail established to FTIL or its promoters is unprecedented.

Ministry of Corporate Affairs, in the application for 396 in terms of the merger very clearly specified that there is no money trail established to either FTIL or its promoters. Despite that this is the kind of action that FTIL is meted upon with poses its own challenges for the company.

The biggest cost to FTIL is the opportunity cost considering the way this country is developing and progressing in the technology space and how digital India is moving ahead. FTIL’s ability to contribute from a technology perspective to this entire digitization can be massive considering our expertise in the field. It could well have been the biggest contributor towards the Digital India movement across sectors and business verticals.