At the risk of going off topic, this does not show government promotes anybody. Government of India ( and credit to ABV and MMS leadership too), has developed capabilities to rescue companies that don't do well. Satyam was a classic example of an issue that was resolved well. IL&FS is a case where government refused to bail out the company but has managed the situation well. Did it impact other Financial institutions, yes, but I think there was a message sent clearly.
If Mr. Ajay Singh cannot run spice jet and it has issues, it is for their lenders to deal with this. The fact that they are dealing with it, is very important.
And the issue with Tata group debt, I think they are doing their best to resolve them. CORUS acquisition was a stupid idea at the top of a commodity boom. It cant be helped now. Other businesses can be turned around.
Not really, the Satyam issue even today continues to rear its ugly head. In fact, as early as March 2021 this year itself -
https://www.moneylife.in/article/sc-dis ... 63113.html
While I have shared just one issue, there are multiple issues. Even Tech Mahindra hasn't been straight but then it would become a whole different ball-game altogether. The murkiness that plagues Indian industry knows no bounds.
The same is the case with ILFS. There is no proper resolution of the issues till date. In fact, 3 deadlines have already been given and passed and fourth one given.
https://www.moneylife.in/article/govt-g ... 65180.html