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Jaypee Group's flagship firm Jaiprakash Associates has defaulted on loans of Rs 4,059 crore, comprising both the principal and interest amount, Press Trust of India reported.
Bangladesh has long been suffering from a mounting defaulted loan crisis, due to which thousands of crores of taka have been embezzled, stolen or siphoned out of the country illegally. Non-performing loans (NPLs) has become burden on the our economy. Neither the Bangladesh Bank, nor the Anti-Corruption Commission (ACC) has been able to get their hands on the big loan
Since 2014, Kenya has been taking huge loans from China to fund infrastructure projects, some controversial - Anadolu Agency
These measures would help promote ease of doing business and dissuade people from wilfully indulging in issuance of cheques even though their accounts have insufficient funds.
Move by lenders to take a huge write-off after a year of administration underlines the difficulty of banks in realising defaulted debts.