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Helpless Homebuyers Thwart India's Quick Fix for Bad Debt


Alfrescian (Inf)
Fifteen miles east of India’s capital lies Jaypee Wish Town, a sprawling 1,162-acre site spotted with unfinished residential towers that embody the human cost of the nation’s bad-loan mess and point to the difficulty of resolving it.......

Jaypee Infratech Ltd., Wish Town’s developer, is among the first 12 corporates that the central bank pushed into insolvency court after it was armed this May with new powers to expedite resolution of the nation’s more than $180 billion in soured debt..................
Real-estate accounts for about 1.25 trillion rupees ($19.5 billion) of stressed loans with only 17.5 percent recognized as non-performing.......that’s just a part of the problem India Inc. faces........

...the banking system’s bad-loan ratio has swelled every year since 2009 to rank as the worst among the world’s seven biggest economies. ..............

Good luck to DBS opening more branches there and other GLC's like Sembcorp with investments there led by the highly rated Tummysick/G..C.
Will the newly "elected" visit the land of her fathers to promote more investments there?
Ever wonder why so many Indian nationals are working in banks here when they cannot even fix the mess (as stated by Bloomberg) in their own country?
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