The wait for investors to acquire some of the $210 billion of stressed assets up for grabs in India is likely to get longer. Thats because creditors are afraid to take decisions.
Current and former top bankers from at least four state-run lenders are under investigation for alleged impropriety over their lending decisions, while the Central Bureau of Investigation has started a preliminary inquiry into an alleged nexus between Videocon Chairman Venugopal Dhoot and the spouse of ICICI Bank Ltd. CEO Chanda Kochhar after ICICI extended credit to the conglomerate.
Indecisiveness among bankers is pushing insolvent companies toward liquidation, which erodes the value of the assets, said Hemant Kanoria, chairman of SREI Infrastructu…
Read the full article at: https://www.bloomberg.com/news/articles/2018-05-07/fear-is-biggest-obstacle-for-investors-in-bankrupt-indian-firms
