Monday, 6 December, 2021
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(Photo for Representation)

Apollo, Varde pull out of bidding race for shadow lender Altico Capital

Both the firms pull out because they were unwilling to meet creditor demands to inject as much as Rs 2,000 crore of fresh equity into Altico.
A customer looks at banana displayed for sale at a roadside fruit stall in Bangalore, India | Dhiraj Singh/Bloomberg

Credit crisis is easing for India’s safest corporate borrowers

Spreads on top-rated corporate bonds have dropped back near where they were when the IL&FS crisis began in September last year.
Representational image | Dhiraj Singh/Bloomberg

India’s bad loans crisis is turning into a snatch-and-grab jungle raj

Opportunistic behaviour will worsen India’s Rs 14 lakh crore bad loan crisis & limit the recovery for lenders and threaten depositors.
India is looking at a larger credit crisis. (Representational Image) | Photo: Dhiraj Singh | Bloomberg

Credit rating companies are still missing big defaults by Indian firms

Defaults at DHFL, Cox & Kings and Altico Capital have occurred even as their long-term ratings indicated very low to moderate risk of non-payment.
India is looking at a larger credit crisis. (Representational Image) | Photo: Dhiraj Singh | Bloomberg

Altico Capital is latest NBFC to default on debt repayment & add to India’s credit crisis

Altico Capital, which focuses on lending to the real estate sector, didn’t pay Rs 199.7 lakh crore of interest on borrowings from a UAE bank.
Illustration: Ramandeep Kaur | ThePrint

Bezos, Branson & Musk — Are billionaires popularising space travel or just on an ego trip?

Jeff Bezos will travel to the edge of space in his New Shepard aircraft — more than a week after billionaire Richard Branson defeated him in a fast developing space race.