Jul
26
Kidnappers, Angry Workers Plague a $210 Billion Debt Cleanup
By-
Insolvency professionals face pressures at troubled companies
- India has one of the worst bad loan ratios in the world
Devendra Jain was abducted one muggy Mumbai afternoon last September, whisked away in a car by angry investors of an insolvent firm he was tasked with reviving.
The chartered accountant says he stood outside the firm’s midtown office that day, by a bustling main street. Suddenly a group of investors walked up, demanding to know when they’d recover their money. Then a car whizzed by; he was bundled in and driven to a remote bungalow. It took nearly 24 hours and a lucky phone call for the police to track him down. He now keeps an armed bodyguard with him at all times…
Kidnappers, Angry Workers Plague a $210 Billion Debt Cleanup
