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First Glimpse Into Indian Defaulters’ $25 Billion Debt Pile

  • Reliance Capital, Altico among firms disclosing end-Dec dues
  • Listed companies have defaulted on 840 billion rupees of debt
Updated on

Tighter rules in India forcing listed defaulters to come clean have provided the first glimpse into the extent of their debt problems.

About 72 companies, from conglomerates helmed by fallen billionaires to smaller businesses, have some 1.8 trillion rupees ($25 billion) in outstanding debt, exchange filings show. As of Dec. 31, the firms had defaulted on more than 840 billion rupees, or 47%, of this.