the longer view is that 12 years later stakeholders (lenders) to the enterprise are worse off by 50% adjusted for interest received in time, shareholders are 80 % worse off, and the created assets remain in the family (the cash rich assets to satisfy lenders and the government at a discount)
unless an interest payment of 1300 cr is made by 31 dec lenders will have to classify the account as an npa and apparently have to 2300 cr of further reserves
the promoter believes the residual 8000 cr market cap is worth twice that (60 a share against roughly 30 today)
and that 8000 cr market cap is up from 2500 cr after the dollar bond default (10 a share)
the new business model is presumptively built on defence (a joint venture with dassault for aerospace manufacturing in a deal that may never come, ship repair, and the seventh fleet)
the fine print is that assets will be sold, lenders repaid, and the government satisfied in three months (march 2018) which natives will opine redefines optimism
full disclosure: the author remains miffed at missing the triple in a week (10-30)
but no, the headline solution is not a template for the resolution process without buyers in the family as capable as this one
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