Banks get raw deal as top bankruptcy resolutions see 80% average haircuts – Mint
On Tuesday, the National Company Law Tribunal (NCLT) questioned the extensive haircut that lenders have agreed to take in the insolvency resolution of Videocon group companies. Billionaire Anil Agarwals Twin Star Technologies has proposed to pay 2,962 crore against admitted claims of 64,838 crore, implying a 95.85% loss to all Videocon creditors. The tribunal noted…