Great unravelling: Few pillars to support a crumbling Indian business order

Though some of the old guard continue to do well, other iconic businesses and businessmen are burning out rapidly, while most of our unicorns remain copycat entrepreneurs, writes T N Ninan

First there was Prompt Corrective Action for banks. Now we have it for businessmen. Anil Ambani’s group finds itself in virtual meltdown. Naresh Goyal is about to lose control of Jet Airways. Subhash Chandra of Zee is looking for a white knight. The Ruias have lost one flagship enterprise, and seem set to lose the other. In Kolkata, the BM Khaitan group is selling tea gardens and has put a company on the block. In Delhi, the Singh brothers after destroying their Ranbaxy inheritance are destroying each other. And in London, Vijay Mallya is trying desperately to keep a safe