Were Debt Defaults Unexpected for Fund Managers? - II: The Essel Infra Case
Of the four defaulting business groups that mutual funds (MFs) have been exposed to, the most surprising one was the Zee/Eseel, mainly known for its media and entertainment business plus a clutch of other businesses such as packaging, education and so on. 
The general public, who had entrusted MFs with their money, knew little about the vast infrastructure projects of Essel, spread across...
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