Stripping group companies of their assets for funds i'to be siphoned off to repay loans, leading to a cash haemorrhage.Failure of management. Too many top people shuffled for any stability of growth. Besides, Chhabria failed to attract the best professional talents.No financial discipline. When the top management does the untenable, the ones lower down the rungs naturally follow it.Lack of resources. The companies under Chhabria failed to expand, modernise and compete as both project finance and working capital dried up..preferred-source-banner{ margin-top: 10px; margin-bottom:10px;}Borrowing to pay. Excessive borrowings led to unbearable interest burden that overshadowed any gains made in operational efficiency Shaw Wallace may be put on the bifr stretcher under interest payment obligations alone.Missing in action. As Chhabria must stay away from India to avoid investigation, leaving his daughter Komal Wazir to proxy for him at board meetings, the companies are without a ^command chain.Published By: AtMigration Published On: May 18, 1998--- ENDS ---
