Two years after emerging from a crisis over derivative bets, Wockhardt Chairman Habil F Khorakiwala is facing heat from the US Food and Drug Administration.
The stock market has been quick to spot the red flags, the reason why Khorakiwala is the only dollar billionaire (Rs 6,000 crore, at Rs 60 to a dollar) to have dropped out of the club in the past year. His net worth has fallen to around Rs 4,900 crore (around $800 million) from around Rs 7,800 crore ($1.3 billion) last July.
Ten of his counterparts in other companies have had better luck, riding a rally that saw the BSE Sensex soar 28 per cent since July 1, 2013.
Of these, eight are new entrants to the list of India's dollar billionaires. Two who have re-entered the list are GMR Infra's G M Rao and Jaiprakash Associates' Manoj Gaur.
The number of dollar billionaires in India has risen to 55 this year from 46 last year.
Text: Krishna Kant, Business Standard
Image courtesy: Reuters