Vikas Patharkar borrowed $700,000 in 2014 to set up a factory to make electric transformers on the outskirts of Mumbai, buoyed by the promise of massive government spending and hopes of a strong eco**mic rebound. Three years later, production has yet to begin. But servicing the debt is cutting into overall profits at his Lustre Engineering, which also offers electrical services, and the 59-year-old may have to sell off assets to repay the bank. ...
06-09-2017, 11:22 AM
Stressed balance sheets cast cloud over Modi-led India rebound
Vikas Patharkar borrowed $700,000 in 2014 to set up a factory to make electric transformers on the outskirts of Mumbai, buoyed by the promise of massive government spending and hopes of a strong eco**mic rebound. Three years later, production has yet to begin. But servicing the debt is cutting into overall profits at his Lustre Engineering, which also offers electrical services, and the 59-year-old may have to sell off assets to repay the bank. ...
العرض العادي
