India Seizes Control of Indebted Lender in Surprise Move
A pedestrian walking past the Bombay Stock Exchange (BSE) is reflected in a puddle in Mumbai, India. (Photographer: Dhiraj Singh/ Bloomberg)

India Seizes Control of Indebted Lender in Surprise Move

(Bloomberg) -- India’s government will immediately seize control of a shadow lender whose defaults have caused widespread upheaval at mutual funds, a rebuke that’s only happened to one other firm.
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