 "ABG Shipyard has been unable to deliver orders because of lack of working capital")
They were once seen as among India’s most promising growth stories. Now, however, the fate of ABG Shipyard, Alok Industries and Lanco Infratech is seen as near-certain but in the opposite direction.
With huge debt, few takers for their assets and the whopping write-offs (‘haircuts’) that banks are likely to take on the loans given to these companies, industry experts believe liquidation of the trio are among the few options.
All three have defaulted on their huge payment obligations. As a result, they figured in the first list of the top 12 default cases referred by banks (on an order
