TMS Ep500: Auditors quitting, loan recovery, markets, TMS behind the scene

Welcome to a very special episode of the Business Standard Morning Show. Today, you are sharing your 500th morning cuppa with us!
For 500 episodes, you have inspired us to ask the tough questions, on the latest in Indian economy, business, tech and markets. And for 500 episodes, we have toiled to bring you complex answers, simplified and fresh out of the toaster. It has not been easy, as we transitioned out of a pandemic and reacquainted ourselves with the new normal. Our team of writers, editors and the production crew have been burning the midnight oil, trying to bring you a show which pairs perfectly with your morning copy of the Business Standard.

And today, we will be taking you behind the scenes, to meet the people who make possible our daily Morning Show. We’ll reveal the making of our daily news line-ups and also get you reacquainted with each of our news segments. 

But before all that we begin our show with the In Focus segment. ‘In Focus’ leads with the most pressing issues in the world of financial news. From policy changes to tech breakthroughs, our first segment puts the spotlight on news and views you must know before you begin your day. For instance, today take a look at the mounting challenges auditors appear to be facing. The latest example is Deloitte resigning as auditor of Adani Ports and Special Economic Zone, on August 13. Deloitte’s resignation reportedly came weeks after it raised concerns over transactions flagged in a report on the Adani Group by US-based short seller Hindenburg Research. Earlier in June, Deloitte had also resigned as the statutory auditor of Byju’s, raising concerns over the edtech’s delay in filing its financial statements. This brings us to a larger question: Has the auditors’ job become more difficult? Why are auditors quitting their roles at high-profile companies?

  

At the Morning Show, we like to begin with the main course first. But that’s because we have something special right after. From In Focus, we move to our ‘Specials’ segment where we read between the lines, go beyond the numbers, and step back to bring you the larger picture. We ask the tough questions, our experts deliver the straight answers. 

And today, we’ll take a deeper look at the tragic passing of national award-winning art director Nitin Desai. Desai had appealed against the National Company Law Tribunal’s order to initiate corporate insolvency and resolution process against his firm. The appeal was dismissed by the National Company Law Appellate Tribunal on August 1. The next day Desai was found hanging in his studio in Karjat. On August 4, his wife – Naina – registered an FIR at the Khalapur police station, alleging an abetment of suicide case. So, did a bad loan recovery process push Nitin Desai to suicide? 

No business news is complete without a look at the markets. It’s the toast to your tea and butter to our bread. And so every day our markets team makes it a point to get you the freshest insights into stocks and options you should be watching out for. Today, we tell you about defence-related stocks. They have been on fire in the last few months as the indigenisation theme gathered momentum, and companies bagged equipment orders. Are all the positives priced in? What factors are likely to drive the next leg of the rally in these counters? And should you keep the powder dry in case they correct from these levels?

Now, usually, right after the market wrap, we bring you the decoded segment, breaking down and explaining the key terms and trends dominating the headlines lately. 

But today, to mark this special cup of morning tea, we bring you an exclusive peek into what’s going on behind the scenes, and in the newsroom, every day. What’s it like to produce a morning news show, you ask? Listen to this episode of the podcast for answers.