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Need Balance Between Banks & Promoters: Neerav Merchant

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September 26: Majmudar & Partners’ Neerav Merchant says there could be multiple legal hurdles in banks demanding a change in management of willful defaulters. Banks have upped the ante in recovering loans, but the issue here is how much are promoters willing to sacrifice at the cost of the company, he says, adding that there are alternatives like CDRs which may work. We also advise clients to do due diligence before accepting personal guarantees, he adds.