For lenders to pretend that they were going to restructure Dewan’s $12 bn in liabilities out of court was just a Bollywood fantasy. The problem is that India’s 2016 insolvency law, modeled on the UK system, is set up for nonfinancial firms. Using the same law to put a financier like Dewan out of its misery has some advantages but many shortcomings.from Banking/Finance-Industry-Economic Times
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