Just a year before liberalisation, a few enterprising men decided to enter the business of steel making. These men borrowed monies from banks and then kept on borrowing. One fine day, the bankers realised that the promoters had no way of making good on their debt obligations. But accepting financial loss — or losing face, for that matter — was not an option for these banks.
Bad debt or death bed?
Evergreening of loans is keeping several over-leveraged companies alive. What could be the endgame?
Debt|Loans|HDFC Bank|Essar Steel|Asset restructuring|Credit Suisse|Ambit Capital|Foreign investors|Equity funding|House of Debt|Tata Teleservices|Adani Transmission|Sadbhav Enginering|IL&FS Transportation Networks|JBF Industries|Century textiles|Dalmia Bharat|Crisil|Bombay Dyeing & Manufacturing Company|Jaiprakash Associates|Jet Airways|Jaiprakash Power Ventures|CARE Ratings|BNP Paribas|ICRA|GMR Energy|SBI|Pradip Shah IndAsia|Adani Power|Non-Performing Assets|Evergreening
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