Property News · September 12, 2017

Helpless homebuyers thwart India’s plan for quick fix to bad debt


Fifteen miles east of India’s capital lies Jaypee Wish Town, a sprawling 1,162-acre site spotted with unfinished residential towers that embody the human cost of the nation’s bad-loan mess and point to the difficulty of resolving it.
Jaypee Infratech, Wish Town’s developer, is among the first 12 corporates that the central bank pushed into insolvency court after it was armed this May with new powers to expedite resolution of the nation’s more than US$180 billion in…

Source : South China Morning Post
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