Indian two thousand rupee banknotes are arranged for a photograph in Mumbai, India (Photographer: Dhiraj Singh/Bloomberg).
In the last five years, key companies of the Subhash Chandra-promoted Essel Group doubled their debt thanks to the largesse of mutual funds. Even though they had no capacity to service it and had to borrow further to make interest payments. Now, they’ll be able to repay the debt only if and when they succeed in selling assets, ranging from road projects to a substantial stake in the group’s flagship listed company Zee Entertainment E...