Some of India's largest groups, including the Tata family controlled companies, the Ambani family controlled Reliance and Vijay Mallya's UB Group, have pledged large stakes in their listed companies as collateral to lenders, new disclosure requirements reveal.
These raise concerns about the hidden indebtedness of corporate India at a time of depressed market values. Almost 500 companies revealed pledges that are worth about $13.5bn at latest prices.
The most prodigious is the Tata group, which accounts for about one quarter of the total.
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