Banks vs Ispat: A Farcical Spat

Indian banks and lenders have figured out a nice way to keep lending to Ispat Industries Limited, managed by Pramod and Vinod Mittal. For the second time in five years, we see the charade of a threat to change management by selling off their holding to a competitor. A 14th September report in The Economic Times suggests an exact repeat of what happened in July 2006.

On 15th September,...

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