...Jayanth R. Varma; Rahul Ghosh Northern Textiles (NTL) used highly complex derivatives to hedge its currency risk, and these structured products have been profitable in the past. But in 2008, unanticipated movements in exchange rates have led to serious losses. Seth, the Chairman of NTL, has come...

... Governance Derivatives Textile Large In April and May 2009, the centrally cooled headquarters of Northern Textiles Limited (NTL) offered little respite from the heat of the Indian summer. The reduced cooling, shrinking coffee supply and empty soap dispensers were telltale signs...