Debt traps are not an imaginary situation. If you are stuck in one, it is high time you take steps in the right direction to come out of it.
The Power Ministry is working on a proposal to deal with over Rs 4 lakh crore loans of power distribution companies with a view to bring down their liabilities.
The Tamil Nadu state budget was tabled today and there is some good news for the debt ridden state electricity board (SEB). The government has said that the power situation in Tamil Nadu is set to improve and the SEB will turn around in 3-4 years.
Debt-ridden Jet Airways said on Tuesday it would sell and lease back aircraft and offload land to raise funds for what its auditors called a cash crunch threatening its future.
Debt-ridden Kingfisher Airlines today reported that its net loss doubled to Rs 468.66 crore in the quarter ended September 30, 2011, as higher fuel prices depressed operating margins.