I read this story on Aircel’s lenders agreeing to take a 99% haircut on dues worth Rs 20,000 crore.
And decided to take a (pathetic) shot at poetry on a Saturday morning…
🙂
A New Barber in Town
I went to Khan Market for a coffee But I bumped into my barber instead And in a moment of my utter weakness I ended up disregarding Buffett I asked him if I needed a haircut He took a good look at me and said: Yes of course you need a haircut! I mean, what else could he have said? And while I was getting my haircut I picked up the newspaper and read a story about another haircut and lenders whose money was dead And as I flipped the pages of the paper I found more stories on haircuts and bankers whose money was now vapour finding all doors to recovery were shut I showed the stories to my Barber He looked at them in anguish and said: Why aren't bankers coming to me for haircuts? while his face was angry and red I thought for a moment, then told him about the big, new barber in town Yes, the one who will now do all the trimming and is called NCLT HAIRCUTS DOWNTOWN
Well said Sir “NCLT Haircuts”.
NCLT run IBC process, seems to be a legal way, by which large cases of favor driven banking sanctions have been buried without any inspections.