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

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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.

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.

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,