View: Haircuts for Indian finance — bald or bold? Signs from the DHFL case

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 https://ift.tt/2OvPgZx