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FTIL making compromise on opportunity costs

Nevertheless, it is clearly specified in MCA’s application for 396 regarding merger that no money trail is established to either FTIL or its promoters. Yet the kind of actions undertaken regarding FTIL has led to a condition where dire strait is probably an understatement. Undeterred by circumstances Desai expressed his positivity, as he acknowledges such actions as challenges while every challenge is an opportunity of sorts for him. Such positivity perhaps will help the company to combat with what is happening with it.

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He further clarified that Mumbai Police did not come to takeover FT Tower or Economic Offence Wing (EOW) letter does not signify freezing the bank accounts. On the contrary, the letter simply points towards securing to attach assets i.e. for making use of any of such assets, permission from court of law shall be pertinent.

In view of technology advancement across the country, Desai mentioned, “The biggest cost to FTIL is opportunity cost. Today if you look around the country and the way this country is developing and progressing, if you look at the way digital India is moving ahead, the way digital venture is taking place, we believe FTIL could be at the epicenter of this. Our ability to contribute from a technology perspective to this entire digitization can be massive.”