Determination, Motivation & Will Power

By Mr. Deepak Agarwal

From Kochi

+91 9447043392

deepakagarwal150@gmail.com

We have all heard about motivation. Motivation in literal terms means willingness to do. It is an inner urge which triggers an action within us. We all need motivation at different phases. We may be down with confidence, moral and so on. At these times we all need to uplift ourselves and perform better.

I always believed that determination, motivation & will power go hand in hand. Determination is your goal. It is what you want to achieve. Your path to achievement may not be easy. There will be obstacles, both big & small in your path. When you see an obstacle on your way, one shouldn’t be demoralized or feel that it is difficult to cross the obstacle. This is where motivation comes in to play. We always need to be motivated that we can, we can. Once we believe that we can, our perception changes.  We need tremendous amount of will power to achieve what we want. Will power is required to work/study day in and day out. We must be able to perform to the best of our abilities everyday in our life.

I would like to say a few things about how I moved about during my study leave and used determination, motivation & will power to sail me through. When I went in to my study leave the first question I asked myself am I game for this? I got an answer within saying no. But I didn’t feel letdown just because of one answer. I wanted to turn the table around and say yes, maybe a few days before the exam.

As my studies progressed I started feeling good about it and confident. But whenever I was down and negative thought came in to my mind saying that I can’t do it. I closed my books and for a moment I thought of good things in my life. I had thoughts about my class 10, class 12, and PE 1 & B Com degree. Thinking about how I managed to sail through this made me feel good.  When I studied I believed if I can’t do this then no one else can. This attitude and line of thinking helped me a great deal during my study holidays.

The greatest motivation one can have is the willingness to do well not only for yourself but for your parents. I always believe that hard work pays off.  As long as a person has a desire/ Hunger to know what he/she wants, one can surely achieve it. It all depends on how hungry you are to achieve what you want. One must always remain focused in what he/she wants and must not divert from it. Consistency and hard work is the order of the day.

Happiest moment for me in the past two years is when I saw the happiness in my parents face when I cleared the exam.  All of us really work hard to make our parents feel proud. We must always make our parents proud in things we do and we must do it in the right way. Today whatever we are is because of our parents. We have an identity today because of our parents. Today we are known as son/daughter of so & so. We do not have an identity of our own at this point of time in life. But it is essential that all of us have an identity of our own. This is possible only if we achieve our goals in life. The society looks up to us. That can be the greatest motivation ever.

People should take steps to create a branding for them. This can be done through acquiring knowledge, work ethics, and good social life and over and above a good national citizen of the country. This branding takes time to build and once created it can leave tremendous amount of goodwill.

These 3 words assume great significance on our journey in life. Be determined to achieve what you want. To achieve one must always be motivated and must have the will to do it. The following words assume great significance in life

I will

I can

I want to do it

Friends nothing is impossible in life as long as one has the desire & will to achieve what he/she wants to achieve.

Kingfisher Bailout

Kingfisher Bailout

By CA Parag V. Kulkarni

+93702 23957

parag0488@icai.org

Table of Contents

Introduction. 3

Understanding the Scenario. 3

Difficulties. 4

History. 5

Privatization. 6

Is it my responsibility to save Vijay Mallya?. 7

Is it Bailout?. 7

Key Problem.. 7

Do Oil Prices impact Kingfisher Business?. 8

How much the experts commenting Kingfisher playing role of developing the nation is valid?. 8

Critical Examination: My Opinion

Conclusion. 9

Kingfisher Bailout…

Introduction

Kingfisher bailout is the current issue which captured almost 2 hours of every Indian News Channel since last week. We are watching experts and many more bureaucrats expressing views and commenting on the topic. But the question is how much a common understand from these discussions. What exactly the issue is. What a common man knows is there is some difficulty in running the business of Kingfisher Airlines and that’s it! A common man has many questions like how come a person who puts himself always in the glamour world is facing money crunch. As a public image we saw Vijay Mallya promoting IPL, planning to enter into new business, promoting F-1 and certainly a man with lavish life saying he needs money. What exactly it implies?

 

Understanding the Scenario

On 11^th November, 2011; Over 50 kingfisher flights were cancelled and the company’s stock plunged to a lifetime low of Rs.17.55/- before recovering a little close at Rs.19.65/- on BSE. Kingfisher’s actual number of flights is way lower than the 418 daily domestic departures the airline scheduled for winter season. Operations are getting increasingly difficult for kingfisher

Difficulties

1.     Airports Authority of India (AAI), which has dues of about Rs.200 crore from the airline, is going to consider putting it on cash-and-carry from 19^th of November, 2011.

2.    It means Kingfisher will have to pay Rs.1 crore every day to AAI.

3.    GMR group (which runs Delhi and Hyderabad airports) is also thinking of policy on cash-and-carry basis.

4.    Oil Companies, which have dues of over Rs.200 crore, have already put airline on cash-and-carry.

Honourable Vyalar Ravi, civil aviation minister expressed his views on assisting the airline and controversy begin.

 

History

Kingfisher on 2^nd November, 2011 needed:

1.     Additional working capital or short terms loans to improve its working capital cycle and also to reconfigure aircraft.

In simple terms Working Capital represents funding for day to day requirement.

2.    It seeks help from banks to substitute high-cost rupee borrowings with lower cost foreign currency debt to the extent that can be supported by its international operations.

Today International borrowing rate is much lower than average borrowing rate we have in India. International borrowing rate is usually nominated as “LIBOR + ___%”.

3.    It wants a release of cash deposits held with lessors against maintenance reserves for which bank guarantees are being sought.

Cash Deposit represents amount lying with lessors.

4.    The company has lined up Rs. 2,000 crore Right Issue (Share Issue to existing members of the company) to raise more capital and wants all shareholders, including banks, to participate in the fund-raising exercise.

Right Issue is a right given to existing shareholder to subscribe to share of the company. Related guidelines are governed by SEBI. A shareholder can either subscribe the share or he may renounce it.

SBI and ICICI converted their debt on March 31, they agreed on a conversion price of Rs.64.48 each, which was 60% higher than the prevailing market price of around Rs.40. From the conversion price, the shares are now trading nearly 70% lower.

Bankers are in process of hypothecation of the Kingfisher brand. Whether bailout package is to be given or promoters should infuse their funds.

Privatization

In early nineties it was the prestige to travel by plane. Then whenever I used to ask for a black tea, beautiful lady used to come to me with already filled cup of tea and I never knew; what was the content of sugar, content of water and content of tea.

But after privatization in the sector, things changed. Now when I travel the same beautiful lady comes to me and with smile she asks me “Sir, will you prefer tea or coffee, how much tea you want, how much sugar you will have...” Privatization definitely helped consumer in getting quality service and that was the end of monopoly of public sector. Government promoted private airlines for a cause of good, and now when the aviation industry is in trouble; question is whether it’s the job of government to help?

Is it my responsibility to save Vijay Mallya?

As an individual tax payer I have basic doubt. Is it my responsibility as a tax payer to save Vijay Mallya? Question raised is absolutely right but government should consider the issue in broader aspect. It should not be about helping an Individual airline but the industry.

Is it Bailout?

You said bailout for Kingfisher? Hold on…. Is it bailout? Or it’s the same thing which happened with Air India? Kingfisher has got the loan and it is paying interest on it. It’s the genuine business. Now it’s just the emergency for which it applied to banks. The most important thing is Kingfisher never applied to government for bailout.

So let’s not put it as a national problem but simply the business difficulty. What about lending risk to banks and account holders? After all its public money which will be diverted to kingfisher if additional loan is granted.

 

Key Problem

Bankers put the condition of infusing promoters funds and here comes the key problem. Promoters raised their hands saying sorry to further contribute and asking entire help from the banks.

Do Oil Prices impact Kingfisher Business?

The argument is “considering the oil prices hike and other costs government should help”. Whether oil prices are affecting only Kingfisher Airlines? Why other airlines are doing good business? Indigo is earning good profits. The right answer to the failure of Kingfisher Airlines is not the hike in oil prices but the wrong business model the airline adopted.

How much the experts commenting Kingfisher playing role of developing the nation is valid?

Many say aviation industry needs government help as we stand nowhere in Infrastructure Development as compared to China. Aviation industry facilitates transportation and directly promotes growth of the nation. I am surprised to listen to so called Experts contesting on behalf of Kingfisher Airlines converting debate by focusing the airline as a charitable organization helping poor people to grow. The Kingfisher Airline is considered as elite class airline and you cannot argue on helping needy people and facilitating transportation.