India is no longer a defaulters' paradise

Tycoons are being held to global standards on debt obligations for the first time

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Reliance Communications was essentially forced out of India's consumer mobile market by harsh competition, leaving owner Anil Ambani in hot water over the company's missed payments. 

KEN KOYANAGI, Editor-at-large, Nikkei Asian Review

When Mukesh Ambani, India's richest man, hosted a lavish, three-day wedding for his eldest son, the guest list was naturally a who's who of the corporate community. But as the couple celebrated their new future, some of those business leaders were likely fretting about theirs.

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