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Loan Defaulters & Curious case of "hair cut" by Bank Creditors

M
who default who this curious question in our economy whether it's loan defaulter or committee of creditors for the revival of default loan from that entity.

few case as below ,

Decks have been cleared for Mukesh Ambani led Reliance Industries to take over the debt-laden assets of textile player Alok Industries which owed lenders Rs.29500 crore.

The NCLT's bench approved the Rs.5,050 crore resolution plan submitted jointly by RIL and JMFinancial.
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Now take a look this

Alok Industries goes to RIL-JM after banks take 83% haircut
CoC approves Rs 5,000-cr bid compared with Rs 30,000 crore owed to lenders.


In the case of Bhushan Steel, bankers took a haircut of 37 percent since Tata Steel’s offer was for Rs 35,200 crore. However, the haircut for Electrosteel Steels was 60 per cent since Vedanta offered Rs 5,320 crore against lenders’ outstanding of Rs 13,175 crore.
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why is haircut theory is there?
when a new group is wealthy enough, assets are worthy why these committees of creditors taking such huge hair cut?

there is same such settlement formula by bank finance dept for "NPA" in agri loans where banks have a target to recover at least 35 % amount of total default,
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Foxtel retains broadcast rights to vivo IPL 2019 in Australia.

Shantanu Upadhyay
Fox Sports has retained the rights to the VIVO 2019 Indian Premier League (IPL) cricket tournament, one of the world's largest T20 cricket contests. (in Australia)

Foxtel first won the rights to the Indian T20 league last year.

Foxtel retains broadcast rights to India's biggest cricket tournament - AdNews
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Fastlane(PPV)

amty
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Spotify will be pre-installed on new Samsung devices

Bapun
The Spotify app will now be pre-installed on millions of new Samsung devices globally. This includes the Galaxy S10e, Galaxy S10, Galaxy S10+ and Galaxy S10 5G. The new Galaxy A series and even the Galaxy Fold will come with the music streaming app pre-installed.

Eligible customers with a new Galaxy S10 handset will get six months of Spotify Premium for free. One caveat is that this promotion is only for customers in the United States. Furthermore, if you were previously a Premium subscriber, still are or have even used a free trial of the service, you can’t get six months for free.

Source
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