There is a recent Credit Suisse report talking about the debt increasing in Corporate India. It does not capture the evergreening that Indian Psu banks are capable of doing. However here is an article showing you India’s top borrowers – and how the net worth of many of these companies will not be enough to repay the debt.
Honestly made balance sheets of these companies will show you a negative net worth.
However like the Kingfisher Airline case, many of these promoters will blame the bank for funding problems. Touche’.
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