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Profiting from Debt*
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Jul 12th 2021, C.P. Chandrasekhar
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In
a stealthy game played over two decades, corporate India
is walking away with huge wealth transfers, largely
from the public banking system. The Insolvency and Bankruptcy
Code (IBC) has not been able to help banks recover the
loans they have given major corporate players, who with
impunity have just refused to service those liabilities.
*
This article was originally published in People's
Democracy on July 11,
2021.
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