StanChart May Wind Up Losing Less on Its Biggest Indian Bad Loan
- Some banks want to resolve Essar Steel case by end of March
- StanChart and vendors may share nearly 30 billion rupees
Essar Steel Ltd. in Pune, India.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
Standard Chartered Plc may wind up losing less on its biggest bad loan in India.
Lenders to bankrupt Essar Steel India Ltd. will consider increasing a payout to Standard Chartered to expedite the sale of the troubled Indian mill to ArcelorMittal, according to people with knowledge of the matter. That could smooth over a sticking point in months of court battles as the world’s largest steelmaker tries to open shop in the South Asian nation.