According to one of India’s most respected bankers, it’s a once-in-a-lifetime opportunity -- a mammoth sale of distressed assets , some $40 billion in the first round. Much could go wrong, of course, especially given that so many powerful interests have so much money at stake in the process. The law gives courts the power to appoint resolution professionals to sell off and revive investments and companies financed by loans that have turned bad. A bankruptcy process that ended with the same bunch of capitalists in control of the same sectors might have saved some banks -- and taxpayers -- money in the short run. The government’s trying to ensure it finds them.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.

Source: Economic Times November 29, 2017 01:41 UTC