India squanders distressed debt opportunity

Reliance ARC, part of Ambani's Reliance Capital, was launched in 2008 with George Soros and BlueRidge as investors.

Three years on, and just one deal later, Ranjan has scaled back his ambitions. Years of fruitless efforts have left the 61-year-old frustrated, with little hope for the future of India's distressed debt industry.

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