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May

07

Fear Is Biggest Obstacle for Investors in Bankrupt Indian Firms

By Tony Seruga

Lenders have ‘fear psychosis’ about decisions going wrong
India is probing bankers for alleged impropriety over loans

The wait for investors to acquire some of the $210 billion of stressed assets up for grabs in India is likely to get longer. That’s 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…

Fear Is Biggest Obstacle for Investors in Bankrupt Indian Firms

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