Why India’s state-owned banks are rushing to sell bad loans
“For legacy and written-off accounts, banks are unable to find out the real value, who the buyer is, and if there could be issues with the account at a later date,” said Nirmal Gangwal, founder of Brescon, a Mumbai-based single-family office, and a financial turnaround and restructuring veteran. “The same promoters can come back in the name of somebody else, which would be bad for banks.”
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