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Rescuers Sought for India Shadow Bank Altico as Crisis Deepens

  • Lenders to Altico Capital call for binding bids by Jan. 15
  • Altico has been missing interest payments since September
Altico focuses on real estate lending.

Altico focuses on real estate lending.

Photographer: Anindito Mukherjee/Bloomberg

Lenders to an Indian shadow bank at the center of an industry crisis since it started defaulting three months ago have called for binding bids from potential rescuers by mid-January, people familiar with the matter said.

Altico Capital India Ltd. is one of the latest caught up in the nation’s shadow banking crisis, which has deepened as lenders already reeling from one of the world’s worst bad loan piles balk at extending more credit.