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Messy work

14 October 2016 By Una Galani

A $12 bln-plus sale of Essar Oil to the U.S. sanctioned-Rosneft and others would be a milestone in India’s effort to clean up balance sheets. Not long ago it was hard to imagine banks could turn the screws on tycoons like the Ruia brothers. Lenders have a rare reason to cheer.

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