Addressing Justice Misra as “Dear Chief Justice”, Mr. Dhavan wrote in his letter: “After the humiliating end to the Delhi case, I have decided to give up court practice. You are entitled to take back the Senior Gown conferred on me though I would like to keep it for memory and services rendered.”
The Supreme Court rules does not require a senior advocate to inform the apex court when he is quitting practice.
First, at a macro level, the growth and interest-rate dynamics should turn favourable, as real interest rates are expected to drop below real GDP growth for industry by the March 2018 quarter.
Second, listed corporates have delivered their balance sheets over the last two years, and free cash flows are sitting at all-time highs at over 10% of sales.
Third, the credit ratio — the numberof ratings upgrades to downgrades —has improved to 1.9 times in the first half of this fiscal year from 1.2 timesin FY2017, indicating further improvement in corporate balance sheets.