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THE BIG DADDY’S OF INDIAN CORPORATE WORLD SELLING OFF THEIR ASSETS TO SETTLE DOWN THE BANK DEBTS – EVERYTHING FROM AIRPORTS, ROADS TO STEEL PLANTS AND CORPORATE PARKS HAS BEEN PUT UP FOR THE SALE

The exit of Mallya from India with the label of defaulter had resulted into bankers getting awakened from the deep sleep. Mallya took away 9000
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RELIANCE INDUSTRIES OWNED BY ANIL AMBANI HAS RS. 1,24,000 BANK DEBTS (SOURCE)
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TATA GROUP (RATAN TATA)

RATAN TATA (SOURCE)

The Tata Group, India’s largest corporate group, with over 100 companies, wants to sell its UK steel business, which came as part of the $12.9 billion acquisition by Tata Steel of Corus in 2007. Tata Steel had invested over $ 2 billion as capital expenditure in its UK steel business and it has now written down the value of its investment of $2.9 billion, meaning the value of its UK steel business is almost zero. The company’s consolidated debt was $10.7 billion on September 30, 2015, with the total long-term debt of its Europe business at about $4.3 billion.

SOURCE: THE HINDU

IMAGE SOURCE: ET 

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