^^there are many arguments in this post so let me try to understand what is being said:
1. When the government "assumed" some of AI's debt and moved it the SPV, the primary intent of course was to make AI more attractive to the buyer(s). But it is obviously understood that the intent was to pay it off at some point. Otherwise it would be considered as defaulting by a sovereign government on its debt obligation. That's a big deal.
True, but that was never told when it was making that on auction stage. That was left unintnetionally unclear that is the issue.
2. Re: the point about the Tata's: I think they assumed rest of the (part not assumed by GoI) of AI's humungous debt as part of the deal. Not sure what is fishy about that. They are servicing their purchase through borrowing from another financial institution. Again, what is wrong with that?
But if the so-called humungous debt is being done by the above, then again the assumption doesn't bear fruit. And somebody above told this was known as advance. If this was known, then wouldn't it be a case of bad faith and giving wrong statements to both public as well as Public Sector banks (again run by taxpayer money, we just recapitalized them again 2-3 years ago.) . This would be called misrepresentation of facts, not assumptions. And that is the reason why you have agreements made drawn by legal experts.
3. Lastly about the unpaid amounts by the government ministries and such: That is what is owed to AI (dues), not directly what AI borrowed (debt). It is not the same thing and not the cause of the debt.
FWIW, Indian private banking doesn't have too many successes either then or now. https://www.livemint.com/Sundayapp/fjhe ... story.html
I am personally not a big fan of this government or Dear Leader and Mota Bhai but I am not sure there's a lot of ammunition here to go after them specifically in this regard.
That is not the issue here. The issue is that the Govt. lied throughout as to what it would be doing and whatnot and continues to You can check back the articles shared just not couple of months ago which are in public domain and what GOI was saying than. Now facts are being changed on-ground substantially from what they were.