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. ..............
https://www.bloomberg.com/news/arti...-thwart-indian-plan-for-quick-fix-to-bad-debt
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