India: JSPL- JSW deal among 4 biggest M&As to bail out debt-laden firms

A number of Indian conglomerates have been working with stretched balance sheets for the last few years. It was nearly four years ago that Credit Suisse put out its first version of the House of Debt which named 10 business houses with unstable finances. But it’s only now that the consequences of the debt build-up are starting to play out. To be precise, it is only after the Reserve Bank of India adopted a zero tolerance approach towards banks masking stressed assets that lenders have started to push firms to sell assets and improve their finances.