Pushed to the brink of collapse owing to the failed hillside township project, the construction firm turned to India’s bankruptcy law to revive itself.
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A row has broken out between invoice discounting platform TradeCred and a few investors over a default involving the popular startup Bizongo. This is the latest blow-up in a space that is driven by the allure of high returns and is a regulatory grey area.
Last week, Larsen & Toubro chairman S. N. Subrahmanyan blamed welfare schemes for unavailability of labour. There are other factors in play too.
The Rs 24,700 crore waiver does come as a relief to the heavily indebted telecom operator. But it has more things to worry about.