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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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LANCO GROUP (L MADHUSUDAN RAO)

MADHUSUDAN RAO (SOURCE)

According to the reports, the Lanco group has the debt worth Rs. 47,000 crore and it is offering almost 50 percent of assets for sale worth Rs. 25,000 crore. The company has completed the sale of its Udupi plant for Rs 6,300 crore but the debt levels have continued to rise, @ 6 per cent. The group plans to sell power assets worth Rs 25,000 crore to de-leverage its balance sheet and retire debts of about Rs 18,000 crore. It is also planning to sell a one-third stake in the Australian coal mine it acquired in 2011 for $750 million.   — NEXT PAGE —- 

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