Essar verdict will rekindle hope in integrity of India’s bankruptcy process, but it will take a lot more work to allay concerns about its effectiveness.
Banks are opposed to certain terms of the Essar Steel sale, which, they say, could lead to higher lending rates, further affecting India's credit woes.
Following the transaction which is expected to be completed by November, Dassault Reliance Aerospace Ltd will become an associate company, with Reliance retaining a 49% stake.
From Munir’s point of view, a few bumps here and there is par for the course. He isn’t going to drive his dumper truck to its doom. He wants to use it as a weapon.
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