A majority of lenders did not favour accepting a non-compliant EMD since that would require changing the terms of the RFP and reinviting bids. Some lenders, however, were worried that the alternative option – liquidation of the twin Srei companies – will result in lower recoveries.
Nilesh Shah on why you should never predict the market
Nilesh Shah of Kotak AMC has advised people not to try to predict the market, stating that more often than not, they will be wrong.