The pedigree of key stakeholders makes it difficult for them to allow the company to fail, as it sends the financial markets a very wrong signal.
LIC is a government-owned entity, even SBI is a key stakeholder. This raises a moral question of these stakeholders being involved with a defaulter company even as they pursue other defaulters under IBC.
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morning
YOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more