Investors in Indian bad loans set for “frustrating” ride

Asset owners and fund managers are fast ramping up the amount of capital they commit to India’s soured-loan market as the government continues pushing for a cleanup of bank balance sheets – but a new ruling by the country's Supreme Court underlines the difficulties involved. On Tuesday (April 2) Supreme Court dismissed the Reserve Bank of India’s (RBI) directive that banks should restructure bad loans within 180 days. This comes as the restructuring of Essar Steel, one of the coun…